CBN Begins Registration Of More OFRs On CRIMS Platform
The CBN has started the registration of “Other Financial Institutions’’ (OFIs) on its Credit Risk Management System (CRIMS) to improve credit risk management. “Other Financial Institutions’’ are Development Finance Institutions (DFIs), Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs) and Finance Companies (FCs) CBN’s Director, Financial Policy and Regulation Department, Kevin Amugo, stated in a circular on Tuesday that with the successful implementation of CRIMS in commercial banks, it was time to accommodate Other Financial Institutions. He stated that the system was designed to improve credit risks in commercial, merchant and…
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