Regulatory Alerts2019-08-20 | COD/DIR/CON/CMF/14/005Circular on the Guidelines for the Disbursement of Lower Denomination Banknotes for Microfinance Banks (MFBs)
The Central Bank of Nigeria's internal memo outlines guidelines for microfinance banks' disbursement of lower-denomination banknotes, with conditions including a satisfactory Composite Risk Rating and the acceptance of new and Counted Audited Clean banknotes. The memo emphasizes proper record-keeping, prohibiting the sale or misuse of funds, and imposing sanctions for non-compliance.
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