Nigeria: AT-1 instruments under Basel III Framework and new CBN guidelines

Additional tier-1 instruments are capital-qualifying instruments that constitute part of a company's regulatory capital. The Central Bank of Nigeria (CBN), which is responsible for regulating banks and other financial institutions in Nigeria, recently issued a circular to notify deposit money banks of its decision to begin the implementation of the Basel III guidelines. The circular also forwarded a number of guidelines released by the CBN, including the Guidelines on Regulatory Capital dated March 2020.