In this edition, we highlight recent directives issued by the Central Bank of Nigeria (the “CBN”) with significant impact on institutions in the financial services sector.
We provide a concise overview of the key updates and their practical implications for stakeholders.
Allocation of Terminal and Refineries to Pre-shipment Inspection Agents
On 28 March 2025, the CBN released a circular announcing a comprehensive review of terminal allocations for oil and gas inspectors. This directive restructured the distribution of terminals among Pre-shipment Inspection Agents (PIAs) and introduced new oversight responsibilities for Monitoring and Evaluation Agents (MEAs).
