L
LequteMan
Guest
Investigations have revealed that some Nigerian banks aren't making enough provisions for bad and doubtful loans in their books, an action which could trigger another crisis in the banking sector, synonymous with that of 2009.
Excerpt from #Vanguard:
There are indications that some banks are not making adequate provisions for bad and doubtful loans in their books as mandated by the Central Bank of Nigeria, CBN.
This, it is feared, may trigger another systemic crisis in the banking sector if not checked. It will be recalled that it was as a result of huge non-performing loans in the Nigerian banking sector that led to the CBN intervention in five banks in 2009.
Banks are supposed to make adequate provisions for non- performing loans from their shareholders’ funds in order to avert the kind of situation which led to financial crisis in 2009.
Investigations have shown that banks’ bad debts are beginning to grow again in the banking sector following the outcry from the recently privatised firms in the Power sector of their inability to service the loans they obtained from the financial institutions which have grown to over N250 billion.
click here to read more
#Nigeria #Vanguard #CBN
Excerpt from #Vanguard:
There are indications that some banks are not making adequate provisions for bad and doubtful loans in their books as mandated by the Central Bank of Nigeria, CBN.
This, it is feared, may trigger another systemic crisis in the banking sector if not checked. It will be recalled that it was as a result of huge non-performing loans in the Nigerian banking sector that led to the CBN intervention in five banks in 2009.
Banks are supposed to make adequate provisions for non- performing loans from their shareholders’ funds in order to avert the kind of situation which led to financial crisis in 2009.
Investigations have shown that banks’ bad debts are beginning to grow again in the banking sector following the outcry from the recently privatised firms in the Power sector of their inability to service the loans they obtained from the financial institutions which have grown to over N250 billion.
click here to read more
#Nigeria #Vanguard #CBN