MFB Monthly Online Rendition Of Returns to CBN Via FinA System

CENTRAL BANK OF NIGERIA

CBN website: www.cbn.gov.ng

Ref: OFI/DIR/CIR/GEN/02/001 12th April, 2011

CIRCULAR

TO ALL MICROFINANCE BANKS

MFB MONTHLY ONLINE RENDITION OF RETURNS TO CBN VIA FinA SYSTEM

We write to inform you that on line rendition of monthly returns by microfinance banks (MFBs) to the Central Bank of Nigeria (CBN) which commenced with the January 2011 returns via FinA has been sustained. Accordingly, all MFBs are required to render all subsequent monthly returns electronically. For the avoidance of doubt, the receipt of hard copy return would stop with the June 2011 returns, after which only electronic returns will be acceptable.

In view of this, each MFB is required to:

i. Visit the CBN website www.cbn.gov.ng and download the MFB codes
ii. Identify the code assigned to it
iii. Use the code to rename its Master File using the naming convention (MFBXXXXXmMMYYYY) given to you at the November 2010 workshop. Where;
MFB = Microfinance Bank
XXXXX = Institutional Code m = Frequency of submission i.e. Monthly MM = Reporting Month YYYY = Year Example: The Master File name of Central Microfinance Bank with code 50001 rendering June 2011 monthly returns should be MFB50001m062011
iv. Forward any outstanding first quarter returns by April 20, 2011
v. Continue rendering monthly returns to the e-mail address mfbreturns@cbn.gov.ng
vi. Open an Institutional e-mail address starting with the MFB name. Example, Central MFB should be centralmfbank@yahoo.com or centralmfbank@gmail.com or centralmfb@hotmail.com
vii. Forward your Institutions e-mail address to the Director, Other Financial Institutions Supervision Department on or before April 30, 2011.

You are required to comply strictly with this arrangement and ensure prompt and accurate rendition of monthly returns to avoid sanctions

O. A. Fabamwo
Director, Other Financial Institutions Supervision Department