2008-10-03 | TED-FEM-FPC-GEN-01-106-08

Circular to all Banks on Offshore Expansion

The Central Bank of Nigeria (CBN) has issued a circular allowing banks to reschedule specific debts for up to a year, extending the duration from the initial period they were structured. This decision is based on section 2.3 of the Prudential Guidelines and applies specifically to loans made for purchasing shares in the Nigerian Stock Exchange. The forbearance aims to address recent requests by several banks to restructure their capital market-related exposures.

Nigeria

Central Bank of Nigeria

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