Federal finance and statistics / Central Bank of Nigeria

Lending to All Tiers of Government and Their Agencies

Keywords: 09-46236403 09-46236418 June 26, 2009 BSD/DIR/GEN/CIR/03/011 CIRCULAR TO ALL BANKS LENDING TO ALL TIERS OF GOVERNMENT AND THEIR AGENCIES Our circular reference number BSD/03/2002 of April 15, 2002 on “ granting of credits to all tiers of government and their agencies” requiring banks to make provision of 50% and 100% for performing and non-performing credits, respectively is hereby revised as follows: Banks are now to apply the normal provisions of the prudential guidelines to all public sector credits. However, a maximum limit of 10% of the total credit portfolio should be placed on…