2014-11-06 | OFISD/MFB/FINA/DOC/07/2014

Importance of Returns Rendition

The presentation emphasizes the importance of returns rendition, which is the process of MFBs submitting their financial data to the CBN and NDIC. This process is crucial for maintaining a stable and sound financial system, as it allows for supervision, policy formulation, and informed decision-making. Non-compliance can lead to regulatory sanctions and reputational risks for MFBs. The adoption of FINA, an offsite surveillance automation system, has helped streamline the returns rendition process by providing a digital platform for data submission and analysis.

Nigeria

Central Bank of Nigeria

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