Regulatory Alerts2012-07-27 | FPR/CIR/GEN/VOL.1/028Additional Know Your Customer (KYC) Requirement in respect of Designated Non-Financial Businesses and Professions (DNFBPs)
This circular addresses the guidelines for accessing CBN lending windows and repo transactions involving all banks and discount houses. It specifies that a bank or discount house cannot simultaneously place funds in the inter-bank market while obtaining funds from a CBN window, nor can they concurrently access the window if they also place funds in the market. Any institution contravening these provisions will be suspended from the CBN's money market window and forfeit the profits made on the transaction. This circular takes immediate effect and supersedes any prior ones related to this matter.
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