Non-Interest Securities: Central Bank of Nigeria to charge protection fees
Published 28 Dec,2020 via The Nation - The Central Bank of Nigeria (CBN) says it will charge protection fees from investors in its Non-Interest Asset Backed Securities.
One of the features of the CBN Non-Interest Asset Backed Securities (CNI-ABS), contained in a draft framework issued recently by the Apex bank on Non-Interest Asset Backed Securities, is that “the CBN shall charge Wakala fee”
According to the online library, “Wakalah literally means protection, delegation, or authorization.”
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Nduka Chiejina (Assistant Editor)