Regulatory Alerts2019-09-11 | BSD/DIR/GEN/LAB/12/044Added · Updated
Guidelines on the Issuance and Treatment of Bankers Acceptances and Commercial Papers
The Central Bank of Nigeria (CBN) issues guidelines for banks and discount houses to ensure uniform practices and proper treatment of Bankers Acceptances (BAs) and Commercial Papers (CPs). These guidelines aim to deepen and facilitate the efficient functioning of the Nigerian money market. The document covers definitions, general conditions, documentation, rating requirements, tenor, denominations, limits, underwriting, investors, forms of maintenance, issuing and paying agents, mode of payment, issuance procedures, roles and responsibilities, registration, reporting, accounting treatment, and disclosure requirements for BAs and CPs.