• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News Politics

August 1st Is Near, Debtors Fret At Being Exposed

Editor by Editor
July 24, 2015
in Politics
August 1st Is Near, Debtors Fret At Being Exposed
Share on FacebookShare on TwitterShare on Linkedin

RelatedStories

CBN issues directive to curb mass sacking by banks

How companies determine who to fire in an economic crunch

November 29, 2022
Ekiti Knowledge Zone approved as Free Trade Zone by FG

Nigeria’s inflation rate rises to 12.34% as COVID effects bite harder

May 21, 2020
  • Are members of the organised private sector (OPS) part of those indebted to banks? Offcourse yes, which is why they  are up in arms against the Central Bank of Nigeria’s moves  to publish bank debtors’ names by August 1.
  • According to CBN, making the debtors’ identities public would force them to pay, thus reducing the huge non-performing loans in banks estimated at N13 trillion. But some OPS members think otherwise.
  • Noting the need for CBN to tackle the problem of mounting bad debts, they, however, argue that there are factors responsible for loan default, which must be taken into account in matters of this nature.
  • Others think that the move is high handed and may portray the debtors, some of who may have been forced into the situation, due to no fault of theirs, in bad light.
  • Members of the Lagos Chamber of Commerce and Industry (LCCI) were among those critical of CBN’s move. Its President, Remi Bello, articulated the positions of members when he pointed out that there is need for CBN to avoid sweeping generalisation and examine the context of defaults in its intention to penalise loan defaulting companies and their subsidiaries.

    “The LCCI recognises two broad categories of debtors. There are defaults that have arisen as a result of genuine business failure (some of which are irreversible), which affected the capacity to repay; there are defaults that have arisen as a consequence of deliberate intent not to repay. The latter borders on character quality, which is what the ‘Know Your Customer (KYC)’ concept is meant to address,” he said.

  • Will the stability of the financial system and opposition by some OPS members force  down the hand of the apex bank from making good its threat of publishing the list of debtors on August 1, 2015? The coming  week will tell.
Tags: CBN NigeriaNews Review
Editor

Editor

Related Posts

CBN issues directive to curb mass sacking by banks
Small Business

How companies determine who to fire in an economic crunch

November 29, 2022
Ekiti Knowledge Zone approved as Free Trade Zone by FG
Politics

Nigeria’s inflation rate rises to 12.34% as COVID effects bite harder

May 21, 2020
Flour Mills of Nigeria Plc, 2018 FY: Flour Mills’ shareholders unanimously endorse N4.92 billion dividend , FMN redeems N1 billion pledge to CACOVID relief fund, donates $1.5 million worth of medical supplies
Business News

FMN redeems N1 billion pledge to CACOVID relief fund, donates $1.5 million worth of medical supplies

April 17, 2020
Nigeria’s manufacturing sector contracts for 5th consecutive month – CBN , To test FX market, CBN pumps $50 million, CBN issues guidelines to Finance Institutions on establishment of Subsidiaries and SPVs, CBN injects $2.63 billion to defend naira in one month, CBN’s COVID-19 N50 billion targeted credit facility, CBN’s heterodox policies buoys credit growth, These industries drove business activities in September, Credit to Nigerian economy falls to N38.67 trillion as private stagnates at N30 trillion, Availability of secured credit to businesses and households increases as unsecured credit to households dips in Q3 2020 - CBN, CBN releases regulatory guidelines on the eNaira
Business News

CBN to finance renewable energy initiatives, sets up N500 billion fund for manufacturers

April 15, 2020
CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies
Politics

UPDATE: Fitch downgrades Nigeria’s IDR to “B”, says CBN’s remedial policy not enough

April 6, 2020
Treasury, bills, calendar, Central Bank
Markets

How to invest in treasury bills even if you don’t have N50 million

September 16, 2019
Next Post

Nigeria's Petrol Price Watch For June 2015

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Gombe receives N60 billion from FG to establish 184-hectare Agro-Livestock Industrial Zone
  • IGP extends tinted glass permit enforcement grace period to August 12 
  • Top 10 export destinations for Nigeria in Q1 2025: India takes the lead

Follow us on social media:

Recent News

Gombe Govt approves N1.15 billion for solar street lights, infrastructure in 3 LGAs

Gombe receives N60 billion from FG to establish 184-hectare Agro-Livestock Industrial Zone

June 14, 2025
IGP to prosecute ex-personnel who ‘hijacked’ truck carrying 40,000 litres of petrol in Enugu 

IGP extends tinted glass permit enforcement grace period to August 12 

June 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics