2017-09-19 | BSD/DIR/GEN/LAB/10/032

Further Guidance to Banks and Discount Houses on the Implementation of IFRS 9 (Financial Instruments) In Nigeria

The letter informs banks in Nigeria of a delayed commencement date for the parallel run of IAS 39 and IFRS 9 system requirements, now set for October 1, 2017. This delay is to allow banks to finalize their ECL Models and IFRS 9 accounting policies. Banks are also required to assess and report on the financial impact of IFRS 9 implementation by October 31, 2017.

Nigeria

Central Bank of Nigeria

Show thumbnail