Regulatory Alerts2015-11-13 | OFI/DIR/GEN/CIR/05/573Added · Updated
Implementation of the Treasury Single Account for FGN/MDAs Deposit Balances
The Central Bank of Nigeria issued a circular on November 12, 2015, instructing all primary mortgage banks and development finance institutions to transfer the FGN/MDAs' deposit balances to the Central Bank. The deadline for compliance was September 15, 2015, and institutions that failed to do so would face severe penalties. This directive was addressed to the leadership and top management of these financial institutions, emphasizing the urgency and importance of implementing the Treasury Single Account policy.
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