Deployment of Resident Examiners to Banks

ENTRAL BANK OF NIGERI Banking Supervision Department 12194 Tinubu Square P. M. B.

Lagos st December, 2008 Tel .:... 09-61636401.

...

09-61636418 BSD/DO/CIR/V.2/12/08 Fax :..

CIRCULAR TO ALL DEPOSIT MONEY BANKS

Deployment Of Resident Examiners To Banks

Central Bank of Nigeria will with effect from, anks in Nigeria, to monitor the observance of safe and sound banking money deposit commence the deployment of Resident Examiners to compliance with banking laws, rules and regulations, Resident Examiners will continuously monitor and assess the banks uidelines/circulars issued by the Bank.

and oractices inancial condition and risk management systems through participation in meetings as observers, review of management reports and discussions Pursuant thereto, banks are to note that in addition to powers conferred vith bank officials as and when necessary.

their on Bank Examiners by Section 30 of the Banks and Other Financial Institutions Act 1991 as amended, Resident Examiners are also authorized and Management meetings (including to: arry out all other functions necessary to accomplish the objectives uery banks' systems as and when necessary and; ommittees) as observers without hindrance; Board, Attend o o o of supervision of banks.

view of the above, banks' cooperation is hereby solicited for and conducive office accommodation of adequate provision Resident Examiners at their Head Offices.

Please, note that no form of entertainment or remuneration should be Finally, banks are to ensure that maximum co-operation and unfettered provided for the Resident Examiners as this will be catered for by the CBN.

all records and documents are accorded the Resident to Examiners.

access D.A.N. EKE January for the C AG. DIRECTOR OF BANKING SUPERVISIO