Central Bank Of Nigeria, Lagos

OUR REF: OFID/DO/CIRC/VOL.388 June 23, 2004 CIRCULAR TO ALL LICENSED COMMUNITY BANKS AND PRIMARY MORTGAGE INSTITUTIONS RE: AUTHORITY TO EXAMINE YOUR RECORDS BY THE NIGERIAN DEPOSIT INSURANCE CORPORATION (NDIC).

This is to inform all deposit taking financial institutions that the NDIC in consultation with the CBN is making arrangements to provide insurance cover to the Deposits of licensed community banks and Primary Mortgage Institutions To that effect, the corporation is authorised to examine the records of all licensed community banks from time to time and also receive your quarterly returns. All licensed community banks and Primary Mortgage Institutions are therefore, enjoined to oblige the corporation with their returns and any other information it may need to accomplish this task.

Thank you for your corporation.

POLYCARP NWOSISI
For DIRECTOR, OTHER FINANCIAL INSTITUTIONS DEPT.