• CBN okays write off of banks’ bad loans – See the condition provided

    CBN okays write off of banks’ bad loans – See the condition provided

    The Central Bank of Nigeria (CBN) may have approved the write off of some banks’ bad loans for which provisions have been made to help clean up their balance sheets.

    The lifeline comes amidst pressures on banks, whose loan books have been hit by shrinking economy, falling currency and foreign exchange shortages following the slump in oil prices.

    Several commercial banks had requested the apex bank to amend its rule requiring them to keep non-performing loans (NPLs) on their books for one […]