CBN Extends Its Regulatory Forbearance for the Restructuring of OFIs Credit Facilities

Proshare

Thursday, March 04, 2021 / 12:20 PM / by CBN / Header Image Credit: Guardian NG


Proshare Nigeria Pvt. Ltd.


 

The Central Bank of Nigeria reduced the interest rates on the CBN intervention facilities from 9% to 5% per annum for one-year effective March 1, 2020, as part of measures to mitigate the negative impact of COVID-19 Pandemic on the Nigerian economy. Credit facilities, availed through participating banks and OFls, were also granted a one-year moratorium on all principal payments with effect from March 1, 2020.

 

Following the expiration of the above timelines, the CBN hereby approves as follows:


  1. The extension by another twelve (12) months to February 28, 2022 of the discounted interest rate for the CBN intervention facilities;
  2. The roll-over of the moratorium on the above facilities shall be considered on a case-by-case basis.

 

Further enquiries on the provisions of this Circular may be addressed to the Director, Development Finance Department.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


 

Related News

1.       Regulatory Forbearance for the Restructuring of Credit Facilities of OFIs Impacted by COVID-19

2.      Banks Lend, the CBN Pushes Forbearance

3.      Structured Finance's Forbearance Challenges Go Beyond Liquidity

4.      CBN Publishes H1 2020 Financial Markets Activity Report

5.      CBN Directs Banks to Accept MRCTD and Refugee ID Card as Means of Identification for Refugees

6.      FG Appoints Pre-shipment Inspection and Monitoring Agents for Non-oil Exports

7.      Co-exist of Old and New Cheques Will End on March 31st, 2021

8.     CBN Releases Circular on the Issuance of the Framework for the Regulatory Sandbox Operations

9.      CBN Issues Framework for Quick Response Code Payments in Nigeria

10.  CBN Issues Framework for Regulatory Sandbox

11.   Manufacturing PMI Stands at 49.6% in December 2020 from 50.2% in November 2020



Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP