2013-09-11 | BSD/DIR/GEN/LAB/06/040

Reporting of all Credit Facilities of N1 Million and above in the Credit Risk Management System

The Central Bank of Nigeria has clarified that banks must report credit facilities of N1 million and above for their board members and staff in the Credit Risk Management System (CRMS), as required by the CBN Act No. 24 of 1991 and not exempted under sections 3.4 and 3.5 of the Prudential Guideline for Deposit Money Banks. Any breaches will face severe sanctions, according to a reminder from Director of Banking Supervision Tokunbo Martins.

Nigeria

Central Bank of Nigeria

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