The Central Bank of Nigeria has ordered all financial institutions to immediately remove any non-compliant advertising and promotional materials that violate consumer-protection and fair-marketing regulations.

The directive was issued in a November 27, 2025 circular, signed by Olubunmi Ayodele-Oni for the Director of the CBN’s Compliance Department.

The CBN’s decision follows an industry review that exposed widespread non-compliance with core consumer protection principles,particularly regarding transparency and marketing practices.

The review according to the apex bank, identified prevalent advertising that misleads consumers by overstating benefits, hiding risks, or using unverified data.

The CBN condemned these tactics for distorting competition and eroding trust in the financial sector.

Emphasizing the need for fact-based and transparent advertising,the regulator issued a strict prohibition on comparative statements, superlatives, and any form of de-marketing.

A further ban was placed on promotional inducements like lotteries and prize draws, which the CBN noted risk coercing consumers into financial products without a full comprehension of the risks.

Under the new rules,financial institutions must now seek CBN approval before publishing any advertisement.

This pre-campaign notification must detail the ad’s duration, creative content, target audience, and include written confirmation of internal clearance from both legal and compliance departments.

Furthermore,institutions must provide proof that the advertised product or service itself has received CBN approval.

The bank clarified that this notification process is for monitoring purposes only and does not constitute an endorsement.

Financial institutions retain full legal responsibility for ensuring their advertisements comply with all regulations.

The regulator ordered the immediate withdrawal of all non-compliant advertisements.

Furthermore, within 30 days, each institution’s Managing Director, Chief Executive Officer, and Chief Compliance Officer must jointly sign and submit a formal attestation of compliance.

This signed attestation must verify that all current advertising and promotional practices are fully aligned with both regulatory and internal governance standards.

The CBN announced a follow-up compliance review beginning in January 2026.

Any institution found violating the rules will face sanctions under the Banks and Other Financial Institutions Act 2020 and the Consumer Protection Regulations.