CBN bares fangs on bad debtors

THE Central Bank of Nigeria (CBN) has commenced a zero tolerance regime against bad debtors in the nation’s financial system, with fresh tightening of rules that would bring defaulters to book and stem the tide of serial defaults

Indeed, banking supervision, both off and on site would be enhanced by the apex bank under the new dispensation.

Under the plan, even borrowers of less than N5 million who have defaulted in repayment would be barred from further enjoying fresh credit. Continue Reading