2013-09-11 | TED/FEM/FPC/GEN/01/009

Developments in the Foreign Exchange Market

The Central Bank of Nigeria has mandated all banks to report credit facilities, including those given to board members and staff, in the Credit Risk Management System (CRMS) for any amount of N1 million and above. This applies regardless of provisions in Sections 3.4 and 3.5 of the Prudential Guideline for Deposit Money Banks in Nigeria, July 2010. Failure to comply may result in severe sanctions.

Nigeria

Central Bank of Nigeria

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