2004-06-25 | TED-AD-78-2004

Circular to All Licensed Community Banks and Primary Mortgage Institutions

This June 23, 2004 circular addresses all licensed community banks and Primary Mortgage Institutions (PMIs) in Nigeria. The Nigerian Deposit Insurance Corporation (NDIC), with consultation from the Central Bank of Nigeria, is implementing insurance coverage for deposits at these institutions. As a result, NDIC has authorization to examine their records periodically and receive quarterly returns. All licensed community banks and PMIs are required to provide necessary information upon request by the NDIC in order to successfully fulfill its new responsibilities.

Nigeria

Central Bank of Nigeria

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