Central Bank of Nigeria Loans & Access to Credit Facilities
Ministry of Finance, Budget and National Planning, Nigeria
Loans are an important source of financial relief for individuals and companies. They provide an alternative source of income that assists in meeting personal needs and achieving business expansion. This document educates financial consumers on the importance of loans, the types of loans (secured and unsecured loan), sources of loan, types of collateral, and eligibility for loans, repayment of loans, defaults and consequences. The revised Prudential Guidelines aim to address various aspects of banks’ operations, such as risk management, corporate governance, KYC and anti-money laundering/ counter financing of terrorism and loan loss provisioning. The guidelines also aim to address the peculiarities of different loan types and financing to different sectors.
Process Flow
Consumer Protection Department ⬤
Financial System Stability Directorate ⬤
Office of the CBN Governor ⬤
Federal Executive Council ⬤
Contacts
Haruna Mustafa
Director
Central Bank of Nigeria
Aishah N Ahmad
Deputy Governor, Financial Systems Stability Directorate
Central Bank of Nigeria
Godwin Emefiele (CON)
Governor
Central Bank of Nigeria
Muhammadu Buhari
President of the Federal Republic of Nigeria
Central Bank of Nigeria Loans & Access to Credit Facilities Current Version
January 2022
Loans are an important source of financial relief for individuals and companies. They provide an alternative source of income that assists in meeting personal needs and achieving business expansion. This document educates financial consumers on the importance of loans, the types of loans (secured and unsecured loan), sources of loan, types of collateral, and eligibility for loans, repayment of loans, defaults and consequences. The revised Prudential Guidelines aim to address various aspects of banks’ operations, such as risk management, corporate governance, KYC and anti-money laundering/ counter financing of terrorism and loan loss provisioning. The guidelines also aim to address the peculiarities of different loan types and financing to different sectors.
Thank you for requesting an expert analysis
A member of our team will review your request and reply back to the email address on file.