Examining loan defaulters. As a consequence of soaring matters of poor loans, the main Bank of Nigeria (CBN) recently announced another measure to check financing defaulters.

Under the brand new guideline, the top lender features a credit score rating security condition that will let banking institutions to utilize financial deposit of debtors in every bank for mortgage repayment.

The assess, which had been an element of the quality in the present lenders’ Committee appointment conducted in Lagos, came 8 weeks after the Federal Government put up a special job power to recover the N5 trillion personal debt owed the resource control Corporation of Nigeria (AMCON). Continue Reading