2008-10-03 | BSD/DIR/CIR/GEN/VOL.2/014

Rescheduling of Specific Debts

This circular by the Central Bank of Nigeria (CBN) allows banks to reschedule certain capital market-related exposures until December 31, 2009. The forbearance is specifically for loans made for purchasing shares on the Nigerian Stock Exchange, based on section 2.3 of the Prudential Guidelines that permits reclassifying non-performing facilities when they are structured for a longer period. This decision was made due to banks expressing their intent to reschedule some exposures considering this guideline.

Nigeria

Central Bank of Nigeria

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