The tribunal is expected to sanction bankers that breached the industry’s operational guidelines.
The CIBN said in a statement in Lagos that the approval would further strengthened members/customers’ confidence in the industry.
A local newspaper, The Nation reported on Monday that Nigeria’s Attorney General and Minister of Justice, Mr. Abubakar Malami, consented to the rules on behalf of the Nigerian Government.
According to the report, the rules prescribe the proceedings to be observed by the tribunal in the hearing and determination of complaints as well as recommending appropriate sanctions to be meted out to erring members of the institute upon establishment of a prima facie case by the investigating panel.
The tribunal, which also looks into cases of ethical and professional misconducts by members of the institute, will be involved in the appointment of chairman and other members of the Disciplinary Tribunal; reference to the Disciplinary Tribunal; convening of the Tribunal; composition and proceedings of the Tribunal and parties to the proceedings before the Tribunal, service of processes, among others.