Alert: Central Bank of Nigeria Circular OFI/DOA/CON/OFI/001/304

Title: Letter to all OFIs : Prohibition of Placement/Investment in Funds Managed by Uninsured Entities

Summary: Financial institutions in the Other Financial Institutions (OFIs) sub-sector in Nigeria are instructed to divest from all funds or products managed by uninsured entities and to refrain from future investments. Existing placements in such entities must be liquidated within 90 days. This measure is taken to mitigate the high credit and liquidity risks associated with these investments and to protect depositors' funds.

Posted on: Monday, January 09, 2023

Download: OFI/DOA/CON/OFI/001/304