2017-02-28 | FPR/DIR/GEN/CRM/06/013

Circular to all Commercial, Merchant and Non-Interest Banks on Identification of some Borrowers' Records without BVN or TIN Migrated from the Stop-Gap to the Redesigned Credit Risk Management System (CRMS)

This circular from Nigeria's Central Bank (CBN) notifies commercial, merchant, and non-interest banks about the live launch of a redesigned Credit Risk Management System (CRMS). The system aims to ensure data integrity and uniformly address any borrower's unwillingness to provide their BVN or TIN during the data cleansing phase. Banks affected by this change must prepare and submit schedules, including migrated records without BVN or TIN. These schedules should contain borrower identification details, credit record information, and outstanding amounts, if any. The deadline for submitting this information to the Financial Policy & Regulation Department is four weeks from the date of this letter.

Nigeria

Central Bank of Nigeria

Show thumbnail