CBN to sanction OFIs for non-compliance with credit bureaux

CBN to sanction OFIs for non-compliance with credit bureaux

Henceforth, the Central Bank of Nigeria (CBN) will begin to sanction other financial institutions (OFIs) for non-compliance with data exchange agreement with credit bureaux. Other financial institutions include microfinance banks (MFBs), Finance Companies (FCs), Primary Mortgage Banks (PMBs) and Development Finance Institutions (DFIs). The CBN had in April 30, 2010, directed banks and other financial…

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