Regulatory Alerts2015-03-11 | FPR/DIR/GEN/CIR/01/004Circular to all Deposit Money Banks: Terms and Conditions for Participation by Deposit Money Banks (DMBs) in the Implementation and Execution of Nigeria Electricity Market Stabilization Facility ("CBN-NEMSF")
The Central Bank of Nigeria (CBN) has approved terms and conditions for deposit money banks (DMBs) to participate in the Nigeria Electricity Market Stabilization Facility (CBN-NEMSF). The CBN-NEMSF aims to settle outstanding payment obligations to market participants, service providers, and gas suppliers. The CBN will invest in a refinancer, which will be managed by an administrator appointed by the CBN and will refinance the facility by repaying lenders. The terms and conditions outline the roles and responsibilities of the banks, the administrator, and the refinancer, as well as the security and repayment provisions for the facility.
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payments
monetary
credit