1. The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, on Wednesday disclosed that 50 biggest bank debtors accounted for 32.02 per cent of lenders’ total loans to the private sector as of May 2014.
2. Emefiele said, “The reform policies of the central bank have gained grip and resulted in a sound financial system. The ratio of Non-Performing Loans to gross loans as of May 2014 stood at 4.24 per cent, 0.76 basis points below the five per cent maximum threshold set.
3. He said “We are however yet to see the dispersal in the loan portfolio as the top 50 and 100 obligors account for 32.02 per cent and 41.34 per cent of the gross credit to the private sector.”
4. The CBN governor, however, said, “The credit bureaux have continued to record steady increase in the number of records of registered borrowers. From a mere 78,189 in December 2010, the total number grew to 18,640,000 in June 2012. The number as of May 2014 stood at 26,623,156,”
5. Credit to the private sector stood at N17.788 trillion as at October 2014 according to CBN data.