Tag Archives: non-performing loans

Contrary to the popular narratives, the management of Honeywell Group, a major corporate stakeholder in First Bank of Nigeria Limited, has said its loan facilities from the bank are within regulatory prescriptions and are performing according to bankis’ credit standards. This is coming at the backdrop of allegations from both …

The Central Bank of Nigeria (CBN) on Thursday removed Mr. Oba Otudeko and Mrs. Ibukun Awosika as Chairman of First Bank Holdings Company and Chairman, First Bank of Nigeria Plc respectively. The bank also removed all the directors of the bank and the holding company. At a press conference in …

Financial institutions have been issued a new directive by the Central Bank of Nigeria (CBN) as the apex bank extends its clampdown on bad debtors beyond deposit money banks. The CBN directed other financial institutions to implement the credit risk management system to forestall the threat of bad debtors to …

The Central Bank of Nigeria has urged banks to bring down the sector’s non-performing loans below five per cent, which is the prudential benchmark. It noted that the current ratio of 6.3 per cent was above the prudential benchmark as of February. Reports obtained from the CBN after its recent …

‌Following the commencement of Global Standing Instruction (GSI) activated by Central Bank of Nigeria (CBN), Nigerian Banks has recovered about N50.32 million bad loans from debtors within nine days. The Director, Financial Policy and Regulation at the Central Bank of Nigeria, Mr. Kevin Amugo disclosed on Tuesday at a webinar …

… As GSI guidelines takes effect 1st August The Central Bank of Nigeria (CBN) moved a step ahead of bank loan defaulters with a new guideline that allows seizing of their funds in other accounts. According to the Asset Management Corporation of Nigeria (AMCON), 105 debtors were responsible for about …