Alert: Central Bank of Nigeria Circular FPRD/DIR/PUB/CIR/01/002
Title: Circular to Other Financial Institutions (OFIs) on the Commencement of enrollment of All DFIs, MFBs, PMBs and FCs on the CRMS
Summary: Financial institutions in Nigeria, including Development Finance Institutions (DFIs), Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs), and Finance Companies (FCs), are required to enroll in the Credit Risk Management System (CRMS) and report all credit facilities (principal and interest) on a monthly basis. The enrollment should include the tagging of all live credit files for individual and non-individual borrowers with Bank Verification Numbers (BVN) and Tax Identification Numbers (TIN) by May 14, 2021. Non-compliance with these requirements may result in appropriate sanctions.
Posted on: Friday, April 09, 2021
Download: FPRD/DIR/PUB/CIR/01/002