Nigeria: CBN Plans To Expose All Bank Debtors On Newspapers

Nigeria's Apex Bank (CBN) is planning on
publishing the names of bank debtors along with
those of their bank of directors in newspapers in
order to reduce the rate of Non Performing loans.

Speaking during the 321st Bankers Committee
meeting last week in Lagos, the Director of
Banking Supervision of the CBN, Mrs Tokunbo
Martins, disclosed that these measures, are
meant to checkmate the growing volume of non-
performing loans, which she said currently stand
at 13 trillion out of which 3.5 percent has been
declared bad.

She further stated that despite the economic
condition, the Central Bank in collaboration with
the Banker's Committee had been able to ensure
that the banking industry was safe and sound.

According to Western Post, the committee said
CBN would henceforth bar chronic bank debtors
from accessing foreign exchange at the interbank
market.