CBN Circulars & Publications | |
CBN Circulars & Publications | |
1209 VIEWS | |
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Wednesday, September 04, 2019 /
01:20PM /CBN
We
have noted the spate of requests from Development Finance Institutions (DFIs)
for special Regulatory approvals to operate special purpose vehicles (SPVs) in
furtherance of operational objectives. It is important that DFIs are
transparent in their financial reporting and remain focused on their core
objectives.
In
this regard, DFIs are henceforth required to provide comprehensive disclosures
on all subsidiaries and SPV operations. In the same vein, the same regulatory
standards that apply to the parent DFI will apply to the subsidiaries and/or
SPV.
Specifically,
DFIs are required to: