CBN Directs PMBs and DFIs to Comply with FG’s Directives on TSA

Regulators
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Thursday 19 November, 2015, 02:10PM /CBN

Following the directive given by the Federal Government that all banks (including PMBs and DFIs) should transfer to the Central Bank of Nigeria all FGN/MDAs’ deposit balances by 15th September, 2015, PMBs and DFIs were expected to have complied with the set deadline.

In the event that your institutions are still holding on to such deposits, you are required to immediately from the date of this circular transfer the balances to the Central Bank of Nigeria filing which severe penalties would be imposed for non-compliance.

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