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CBN releases revised reference codes for MFBsCBN releases revised reference codes for MFBs

By on April 19, 2011

The Central Bank of Nigeria (CBN) has released revised list of codes for microfinance banks (MFBs) for the electronic rendition of returns.

According to a release on the apex bank’s website and signed by the Director, Other Financial Institution Supervision Department, (OFISD), Mr. Olufemi Fabamwo, the revised list is in response to the observations and comments arising from the earlier publication of the codes assigned to MFBs for the online rendition of their statutory returns.

“Consequently, all licensed MFBs in Nigeria are expected to complete their monthly returns using the codes assigned and forward same to the CBN as earlier directed. “Furthermore, this serves as a reminder setting June 2011 monthly returns as the cut-off date after which only electronic monthly returns will be acceptable.”

Fabamwo noted that MFBs with approval-in-principle (AIP) have not been included in the list and, as such, are not yet expected to render returns until final licence is granted by the CBN.

Source : Vanquard