2014-10-17 | BSD/DIR/GEN/LAB/02/032

Incessant Request for ISPO by Banks to Lend to States, Local Governments and Community Associations

This letter, addressed to all Nigerian banks from the Central Bank of Nigeria (CBN) and signed by Director of Banking Supervision, A.O. Idris, urges banks to adhere strictly to guidelines provided by Debt Management Office (DMO) regarding lending to government entities and cease from inundating DMO with requests for ISPOs. Banks are warned that failure to follow these guidelines will lead to severe penalties enforced by the CBN.

Nigeria

Central Bank of Nigeria

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