Regulatory Alerts2022-05-24 | FPR/DIR/PUB/CIR/001/049Re: Enrollment of Other Financial Institutions (OFIs) on the Credit Risk Management System (CRMS)
The Central Bank of Nigeria is informing all Other Financial Institutions (OFIs) that the Regulatory Guidelines for the Redesigned Credit Risk Management System are now applicable to them. Specifically, the "submit before disbursement" requirement will be enforced starting August 1, 2022. All OFIs must ensure their customer accounts comply with the specified format and are tagged and profiled by the given deadlines to avoid sanctions.
Tags
credit
aml
kyc
enforcement
operational
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