2021-10-13 | FPR/DIR/PUB/CIR/001/024

Guidelines on Disposal of Non-Permissible Income

The Central Bank of Nigeria (CBN) has issued guidelines for non-interest financial institutions (NIFIs) on the disposal of non-permissible income (NPI), which includes interest income and penalties for delayed payments. NPI must be placed in a dedicated account and disposed of promptly to charitable causes, without benefiting the NIFI or its stakeholders. The CBN requires NIFIs to comply with these guidelines to avoid sanctions.

Nigeria

Central Bank of Nigeria

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