August 11, 2021/CBN
In furtherance of efforts to improve access to lending for micro, small and medium scale enterprises (MSMEs), the CBN has developed the draft Guidelines for licensing and regulation of Credit Guarantee Companies (CGCs) in Nigeria.
The guidelines, which would provide a regulatory basis for the operations of credit guarantee companies in Nigeria, seeks 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 accessed from the CBN’s website
We would be pleased to receive comments addressed to the Director, Financial Policy and Regulation Department within three (3) weeks from the date of this circular. Soft copies of your comments may also be forwarded to PolicyandRequlationDivision@cbn.gov.ng.
Click here to read PDF copy of draft
