Uwaleke: CBN’s Proposed HoldCo Reforms – Nigeria’s Most Far‑Reaching Financial Conglomerate Restructuring

Ndubuisi Francis in Abuja 

Prof. Uche Uwaleke, a noted financial economist and President of the Capital Market Academics of Nigeria (CMAN), praised the Central Bank of Nigeria’s (CBN) recent exposure drafts on the Revised Guidelines for Financial Holding Companies (HoldCos) and the Ring‑Fencing of Closely Linked Entities. He described the proposals as possibly the most extensive restructuring of Nigeria’s financial conglomerate architecture since the holding company framework was introduced in 2014.

In an article titled “Proposed HoldCo Reforms: Balancing Financial Stability with Operational Efficiency,” published on THISDAY over the weekend, the former Commissioner for Finance in Imo State explained that, as the banking sector continues to adjust to the recapitalisation exercise, the proposals aim to strengthen corporate governance, increase regulatory oversight, safeguard depositors’ funds, and shield banks from risks linked to non‑bank subsidiaries and related entities.

Uwaleke noted that the