Nigeria, June 12 -- The Central Bank of Nigeria (CBN) has proposed the revision of the regulatory framework governing financial holding companies to bolstering the resilience and stability of the country's financial system.

The regulator disclosed the plan in a circular signed by Rita Sike, the director of its Financial Policy and Regulation Department, on Thursday, inviting stakeholders to send their reviews of the guidelines by 9 July.

"Following several years of implementation, the CBN has identified areas within the extant guidelines that require enhancement to strengthen the operational effectiveness and regulatory oversight of financial holding companies," the statement noted.

CBN stated that it would further promote a safe, soun...