Regulatory Alerts2016-07-27 | BSD/DIR/GEN/LAB/09/037Added · Updated
Provisioning for Foreign Currency Loans
The CBN issued revised guidelines for the Nigerian Inter-bank Foreign Exchange Market, leading to an increase in foreign currency loan balances for banks. To ensure proper provisioning, banks are required to immediately provision for any unprovisioned portions of such loans and forward evidence to the Director of Banking Supervision. All foreign currency-denominated loans should also be reviewed and adequately provisioned for delinquent ones.
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