This follows the successful implementation of the CRMS in deposit money banks across the country.
This disclosure is contained in a circular titled, ‘Credit Risk Management System: Commencement of Enrolment of all Development Finance Institutions, Microfinance Banks, Primary Mortgage Banks and Finance Companies, issued by the apex bank and signed by its Director, Financial Policy and Regulation Department, Kelvin Amugo, on April 8, 2021.
CBN in the circular noted that this policy is to help promote a safe and sound financial system in the country as well as prevent the bad debtors from undermining the banking system.
What the CBN is saying in the circular
By Egena Sunday Ode
President Muhammadu Buhari Monday in Abuja restated the commitment of the Nigerian government to the enthronement of democracy and good governance in the African continent. Speaking at the Virtual Support Mission and Signing of the Memorandum of Understanding (MoU) between the Committee of Heads of State and Government participating in the African Peer Review Mechanism (APR Forum) and the Federal Republic of Nigeria on the on-going Second Peer Review Process, President Buhari stated: “As you are aware, the Government of Nigeria has consistently supported the strengthening of democracy and good governance throughout the African continent, including under the umbrella of the African Peer Review Mechanism. We remain fully committed to promoting the good governance practice enshrined in the ideals and vision of the New Partnership for Africa’s Development which gave birth to this review mechanism.
We remain committed to promoting good governance in Africa – Buhari nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.
I’m committed to promoting good governance ― Buhari I’m committed to promoting good governance ― Buhari
• As Nigeria undergoes second peer review process
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President Muhammadu Buhari has restated the commitment of his administration to the enthronement of democracy and good governance on the African continent.
He gave this position while speaking at the President Villa, Abuja during the Virtual Support Mission and Signing of the Memorandum of Understanding (MoU) between the Committee of Heads of State and Government participating in the African Peer Review Mechanism (APR Forum) and the Federal Republic of Nigeria on the on-going Second Peer Review Process, President Buhari stated: