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Thursday, April 18, 2019 06:10PM / CBN
The CBN issued the Revised Guidelines for Primary
Mortgage Banks in Nigeria in November 2011, to re-position the mortgage
sub-sector with a view to harnessing its potentials for sustained economic
growth. The guidelines introduced enhanced requirements for capital, risk
management, internal control and corporate governance.
Notwithstanding the measures put in place, the
mortgage sub-sector continued to struggle against headwinds occasioned by
unfavourable macroeconomic and other developments.
The Guidelines have been reviewed to strengthen
primary mortgage banks as well as complement other on-going reforms in the
mortgage sub-sector. An exposure draft of the revised Guidelines Is hereby
issued for comments and observations. The document can also be accessed at the
Bank's website, www.cbn.gov.ng
Please send your comments to the Director, Financial
Policy and Regulation Department, with soft copies mailed to hiyole@cbn.gov.ng and cponyekwe@cbn.gov.ng within three (3)
weeks from the date of this letter.
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