Guide · 7 min read
Monthly CBN and NDIC returns: a preparation checklist for microfinance institutions
Returns are due within fourteen days of month-end. This checklist covers the ledgers, statements and reconciliations you need ready before you start filling in the schedules.
Before month-end
- All field batches approved and posted
- All journals and payment vouchers approved
- Bank accounts reconciled against imported statements
- Month-end interest and charges run
At month-end
- Close the period so nothing can move
- Print the trial balance, balance sheet and profit and loss
- Print the loan ledger and outstanding loans as at the period end
- Print deposit balances by account type and branch
Filling the schedules
The balance sheet and profit and loss feed the financial schedules; the loan and deposit ledgers feed the portfolio schedules; branch reports feed the branch breakdown. Keep the printed statements with the submission as the audit trail.
Sign-off
The Managing Director and Chief Accountant sign and attest to the returns. Keep the closed-period statements as the evidence behind the signatures.
This checklist is general guidance and not regulatory advice. Always follow the current CBN and NDIC circulars for your licence category.
