Regulatory Alerts2022-03-16 | FPR/DIR/PUB/CIR/001/040Re: Regulatory Forbearance for the Restructuring of Credit Facilities Impacted by COVID-19
The Central Bank of Nigeria is offering a 5% per annum interest rate on all CBN intervention facilities for one year, effective retrospectively from February 28, 2022. This regulatory forbearance is intended to provide relief for credit facilities impacted by COVID-19. Further inquiries can be directed to the Director of the Development Finance Department.
Tel :...
09 - 46237401 E-mail:fprd@cbn.gov.ng CENTRAL BANK OF NIGERIA Financial Policy and Regulation Department Central Business District P.M.B. 0187 Garki, Abuja.
FPR/DIR/PUB/CIR/001/040 March 15, 2022 CIRCULAR TO ALL BANKS AND OTHER FINANCIAL INSTITUTIONS (OFIs) RE: REGULATORY FORBEARANCE FOR THE RESTRUCTURING OF CREDIT FACILITIES IMPACTED BY COVID- 19 Further to our circular dated March 3, 2021 (Ref: FPR/DIR/PUB/CIR/01/001) on the above, the Central Bank of Nigeria (CBN) hereby extends the 5% per annum interest rate on all CBN intervention facilities for one year. This takes effect retrospectively from the 28th of February 2022.
Further enquiries on the provisions of this circular may be addressed to the Director, Development Finance Department.
CHIBUZO A. EFOBI DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT