Deposit Money Banks

2.4 Deposit Money Banks (DMBs)/Development Finance 

Institutions (DFIs) A DMB/DFI to be eligible for wholesale funding shall satisfy the following conditions: 

a) Sign MOU with the CBN. 

b) Undertake to bear all the credit risks of the loans they shall be granting. 

c) Issue authority to the CBN to deduct the balance of the outstanding loan at source from its account with the Bank. 

d) Set aside ten (10) per cent of SME fund accessed for financing start-up businesses.

2.5 Obligor Limit per Cycle Maximum loan amount per cycle

of wholesale lending shall be as indicated in the table below or 50% of Shareholder’s Fund unimpaired by losses for MFBs and Finance Companies. 
a) PFIs b) Borrowers On-lending to clients shall be based on the assessment by the PFIs. The structure and limits for borrowers are as shown below: 
S/No Financial Institution Facility Limit 
1 Unit Microfinance Bank N10 million 
2 State Microfinance Bank N50 million 
3 National Microfinance Bank N500 million
4 NGO-MFIs N10 million 
5 Financial Cooperatives N10 Million 
6 Finance Companies N10 Million