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BAD LOANS
Financial experts have called on the Central Bank of Nigeria (CBN) to prosecute bank directors with non-performing loans, rather than merely asking them to resign.
The COVID-19 pandemic has presented a new threat to Nigerian banks.
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.
The Central Bank of Nigeria (CBN), by April this year, will begin the enforcement of Basel III guidelines....