The Central Bank of Nigeria (CBN) on Tuesday, released
guidelines for registration and supervision of Credit Guarantee
Companies (CGCs) in Nigeria.
![image](/2021/07/Justice-Ejembi-Eko-1.jpg")
![image](/2021/07/LawPavilion0.jpg")
The guidelines are contained in a circular by Ibrahim Tukur,
CBN’s Director, Financial Policy and Regulation Department,
addressed to Commercial Banks, Other Financial Institutions and
Stakeholders in the Financial Services Industry.
![image](/2021/07/escrow-service1.jpg")
Tukur said that the guidelines were in furtherance of efforts to
improve lending for Micro, Small and Medium Enterprises
(MSMEs).
He said that the guidelines seek to ultimately reduce credit
risk, stimulate lower interest rates on loans and complement other
initiatives of regulatory authorities aimed at stimulating lending
to MSMEs.
“An exposure draft of the guidelines is hereby issued for
comments and observations. The document may be obtained from the
CBN’s website, www.cbn.gov.ng,’’ the director said.
He urged stakeholders to send their comments and observations on
the guidelines within three weeks.
The Central Bank of Nigeria (CBN) on Tuesday, released
guidelines for registration and supervision of Credit Guarantee
Companies (CGCs) in Nigeria.
The guidelines are contained in a circular by Ibrahim Tukur,
CBN’s Director, Financial Policy and Regulation Department,
addressed to Commercial Banks, Other Financial Institutions and
Stakeholders in the Financial Services Industry.
Tukur said that the guidelines were in furtherance of efforts to
improve lending for Micro, Small and Medium Enterprises
(MSMEs).
He said that the guidelines seek to ultimately reduce credit
risk, stimulate lower interest rates on loans and complement other
initiatives of regulatory authorities aimed at stimulating lending
to MSMEs.
“An exposure draft of the guidelines is hereby issued for
comments and observations. The document may be obtained from the
CBN’s website, www.cbn.gov.ng,’’ the director said.
He urged stakeholders to send their comments and observations on
the guidelines within three weeks.