Regulatory Alerts2017-02-28 | FPR/DIR/GEN/CRM/06/013Circular 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.
OF NIGERIA 09-46237402/09-46235426 Tel : ....
E-mail:fprd@cbn.gov.ng February 28, 2017
Ref: Fpr/Dir/Gen/Crm/06/013
CIRCULAR TO ALL COMMERICAL, 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) Further to Circular Ref: FPR/DIR/GEN/05/07 (dated June 23 2015), the redesigned Credit Risk Management System (CRMS) has gone live on 21st February 2017 while the Circular Ref: Guidelines was issued vide CRMS Regulatory FPR/DIR/GEN/CRM/06/012 (dated February 27, 2017) As part of measures to safeguard the integrity of data therein and to uniformiy address instances of any borrower's unwillingness to provide their BVN or TIN during the data cleansing phase, all affected banks shall prepare and submit schedules of such borrowers as follows: .
Migrated records without BVN o Borrower Identification: Borrower Code .
Full name (Surname, First Name, Middle Name) u n Gender n Date of Birth u Address Borrower's Referees' Identification: o Full name (Surname, First Name, Middle Name ), l B Referee's Bank Name, Bank/Branch Address and Account Number u Gender E u Date of Birth Address o Credit Record(s) Identification - a sub-schedule capturing each credit record's u Credit ID/CRMS Ref No.
n Status (closed/live) N .
Migrated records without TIN o Borrower Identification: Borrower Code, .
u Name of Company / Firm ■ Address List of Directors and their BVN u o Borrower's Referees' Identification: Name of Company / Firm n Referee's Bank Name, Bank/Branch Address and Account Number R W Address o Credit Record(s) Identification - a sub-schedule capturing each credit record's Credit ID/CRMS Ref No.
.
Status (closed/live) u u Outstanding Amount (if any) The information should be submitted to the Director, Financial Policy & Regulation Department within four weeks from the date of this letter. Soft copies of the same information may be forwarded to cbncrms1@cbn.gov.ng Yours faithfully,
KEVIN AMUGO Director, Financial Policy & Regulation Department