Regulatory Alerts2013-03-22 | OFI/DIR/GEN/05/002Added · Updated
Revised Guidelines for Primary Mortgage Banks in Nigeria
This guide provides a comprehensive outline and checklist for the submission of monthly returns required by primary mortgage banks in Nigeria. It includes various schedules such as assets, liabilities, income statement, placements with banks, commercial papers, loans, advancements, undrawn commitments, fund sources, interest costs, deposit ownership, lending above statutory limits, dismissed/terminated staff, and fraud/forgeries. This information is necessary for the regulator, Central Bank of Nigeria (CBN), to monitor compliance with regulations and ensure financial stability within the banking sector. The submissions are meant to be accompanied by a signed declaration by the appointee or significant shareholder.