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CBN Approves Offshore Capital For Finance Houses!




In the bid to ensure optimal performance of the nation’s Finance Houses, charged with the responsibility of operating within the middle tier of the financial system, with a focus on the Micro, Small and Medium Enterprises (MSME), coupled with funds mobilization particularly short-term funds, placement and fund management, project financing, equipment leasing, debt factoring and credit granting, the Central Bank of Nigeria (CBN), on Monday, January 27th released a draft guidelines, giving its approval for Finance Houses to raise offshore funds to boost their capital base but such funds need to be approved by CBN.


This action, embarked on by the apex bank in the nation’s financial sector, was part of the initiatives to promote a sound financial system in Nigeria.  These Revised Guidelines were issued by the CBN in exercise of the powers conferred on it by CBN Act 2007 and the Banks and Other Financial Institutions Act 2004 (BOFIA).  The revised Guidelines are to regulate the establishment, operations and other activities of Finance Houses; replace the existing Guidelines for Finance Houses and should be read in conjunction with the provisions of the CBN Act, the BOFIA, as well as written directions, notices, circulars and guidelines that the CBN may issue from time to time.


The guidelines outline the definition of Finance Houses and sectoral coverage of their operational functions. In addition, the guideline states that Finance Houses must demonstrate compliance with the CBN Code of Corporate Governance which accentuates effective management of corporations’ affairs with to increasing shareholders’ values,  meeting other stakeholders’ expectations and the Board is expected to display proficiency, high competency and independence in accordance with CBN’s Prudential Guidelines. Other criteria for Board and Senior management qualification were spelt out in the draft Guidelines and all Finance Houses are expected to comply with the Guidelines’ stipulation.



At RegCharles, our target is to support capacity building, entrepreneurship and inculcate a savings culture by providing tailored financial solutions and advisory services to Micro, Small and Medium Scale Enterprises (SMEs). With an array of products and services designed specifically to cater to SMEs which are hitherto avoided by other institutions but remains the validity of economic development and empowerment.
Here at RegCharles Finance and Capital Limited, we have four tested and tried investment strategies we follow, which include:

      •  Straight Debt.

      •  Microequity

      •  Debt & Equity

      •  Micro-lending

Each strategy has been designed to support SMEs depending on their unique needs at any point in time. Our Microequity has proved a favorite amongst our SME clients. In a year and few months of operations, we, at RegCharles, have successfully employed this model in our dealings with quite a number of micro-enterprises. Small scale entrepreneurs, most whose ideas had been turned down by banks and in some cases even micro finance institutions found their way to us.


RegCharles Finance and Capital Limited…..”Succeeding with you!”































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