BANKS AND OTHER FINANCIAL INSTITUTIONS ACT, 2020
Section 22: Display of Information.
(1) Every bank shall display at its offices and on its website-
(a) its lending and deposit interest rates and shall render to the Bank information on such rates as may be specified by the Bank:
Provided that the provisions of this subsection does not apply to non-interest or profit and loss sharing banks;
(b) its obligation to report transactions above the limits stipulated in the Anti-Money Laundering, Combating Financing of Terrorism guidelines and regulations and suspicious transactions to the Nigeria Financial Intelligence Unit;
(c) foreign exchange rates;
(d) certified true copy of its certificate of incorporation;
(e) abridged version of its last approved audited accounts; and
(f) such other information as the Bank may require.
(2) Any bank which contravenes any of the provisions of this section is liable to a penalty of not less than N5,000,000 and an additional N100,000 for every day during which the contravention continues.
Cite this section
Section 22, BANKS AND OTHER FINANCIAL INSTITUTIONS ACT, 2020 (2020).
https://repo.podus.ai/laws/banks-and-other-financial-institutions-act-2020/section/22/