Regulatory Alerts2007-12-21 | BOD/CIR/02/2008Notice to Community Banks that have Closed Shop or Consistently Failed to Render Statutory Returns and the General Public.
The Central Bank of Nigeria (CBN) has issued a notice to the affected chairmen, directors, shareholders, and managers of community banks that consistently failed to render statutory returns. These banks have ceased operations, as confirmed by an existence check conducted recently. Within 21 working days, they must provide CBN with details on their assets and liabilities, list of depositors, and debtors, or face prosecution in the appropriate law courts. The information should be sent to Director, Other Financial Institutions Department (OFID), at the specified addresses in Lagos or Abuja.
Central Bank Of Nigeria Important Notice
| TO | THE | CHAIRMEN, | DIRECTORS, | SHAREHOLDERS, |
|---|---|---|---|---|
| COMMUNITY | DEVELOPMENT | ASSOCIATIONS, | ||
| MANAGERS, | STAFF | OF | THE | UNDERLISTED |
| COMMUNITY BANKS AND THE GENERAL PUBLIC. |
NOTICE TO COMMUNITY BANKS THAT HAVE CLOSED NOTICE TO COMMUNITY BANKS THAT HAVE CLOSED
SHOP OR CONSISTENTLY FAILED TO RENDER SHOP OR CONSISTENTLY FAILED TO RENDER
STATUTORY RETURNS
The Central Bank of Nigeria (CBN) in its continued efforts of promoting the financial system soundness had recently carried out a final round of existence check to confirm the cessation of operations by some community banks (CBs) that had consistently failed to render statutory returns to the CBN before and after the launch of the Microfinance Policy for Nigeria on December 15, 2005.
The outcome of the existence check revealed that 145 CBs listed below had ceased operation and consequently have stopped to render banking services to members of the public. In line with its supervisory responsibility under the provisions of sections 12 and 59 of the Banks and Other Financial Institutions Act (BOFIA), 1991 as amended, the CBN hereby directs that all chairmen and directors of the affected CBs, should within twenty one (21) working days from the date of the first publication of this notice, forward to the Office of the Director, Other Financial Institutions Department (OFID) CBN, the following information on the CBs listed below:
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Statement of the Assets and Liabilities 1 2. Comprehensive and verifiable list of depositors showing their names, addresses and the amounts in their favour.
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List of all debtors including their addresses and the amount owed to the CB;
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List of its assets (movable and fixed) The information listed in 1 to 4 above should be provided by the CBs as at the last date of their operations The CBN hereby warns that all chairmen and directors of the affected CBs that fail to forward the required information as directed above shall be liable to prosecution in the appropriate law courts.
The required information should be forwarded to the: Director, Other Financial Institutions Department (OFID) 9 TH Floor, New Building, Central Bank of Nigeria Tinubu, Lagos
Or Director, Other Financial Institutions Department.(OFID) Wing A 6th Floor, Central Bank of Nigeria Head Office, Central Business District Abuja, Further clarifications on this matter may be directed to the undersigned. Signed
S.A. Oni
Director, Other Financial Institutions Department, Central Bank of Nigeria, Lagos.