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NON-PERFORMING LOANS
The Nigerian banking industry witnessed a significant 41% decline in non-performing loans (NPLs) last year, the NBS has disclosed.
Latest banking sector report shows that non-performing loans in five major sectors rose to N143.76 billion as the end of September 2019.
Nigerian banks have improved non-performing loans (NPLs) post-recession. However, our study shows certain sector NPLs have deteriorated.
Non-Performing Loans in Nigerian banks dropped to a record N1.44 trillion in the second quarter of 2019.
The issue of non-performing loans has been a source of worry for the Asset Management Corporation of Nigeria (AMCON) as the corporation has expressed concerns over the inability of commercial banks to pay back the debt.
As concerns continue to grow over the implementation of the new electricity tariffs across the country, a report has shown that the Nigerian power sector is responsible for N100 billion non- performing loans in the country.
The Central Bank of Nigeria [@cenbank] has reportedly given a directive to commercial banks for the immediate suspension of interests on the 777 billion non-performing loans to oil marketers.
Total non-performing loans (NPL) at the end of April stood at N1.69 trillion. According to the latest report, the oil sector accounts for over 60% of the total loan. Also, non-performing loans constitutes 10.83% of total gross loans.
It will no longer be business as usual for chronic debtors as the Committee of Banks’ Chief Executive Officers (CEOs) disclosed plans to go tougher in efforts to bring blacklisted defaulters to book.
CBN revealed that the total amount of non-performing loans of Nigerian banks declined to N1.79 trillion in 2018.
The Central Bank of Nigeria (CBN), by April this year, will begin the enforcement of Basel III guidelines....
A non-performing loan (NPL) is a loan that is several months overdue or in default.