Nigeria Open Banking Regulatory Framework (CBN, 2023)
Governance and Continuity

Nigeria Open Banking Regulatory Framework (CBN, 2023) NGOB-8: Board Oversight, Business Continuity, and Open Banking Risk Governance

Establish Board oversight of Open Banking risk through Board Audit Committee + Board Risk Committee with quarterly reporting + executive responsibility + Open Banking Manager appointment + risk appetite statements. Implement Business Continuity Plan (BCP) and Disaster Recovery Plan (DRP) specific to Open Banking operations including RTO under 4 hours + RPO under 1 hour for critical APIs + annual testing + customer communications during outages. Maintain regulatory liaison with CBN + Bankers Committee + Payment Service Operators committee.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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