Senate Empowers Banks To Recover Loans Without Borrowers Consent       The Senate on Tuesday, passed for second reading, a bill to allow banks recover loans from defaulters, place them on watchlist and eventually blacklist them without recourse to the borrowers. The bill sponsored by Senator Sani Musa,...

‘Loan Defaults Worsened In Third Quarter’       Defaults in unsecured loans to household and small businesses during the third quarter worsened and this is expected to continue in the fourth quarter of the year, the Central Bank of Nigeria has said. The regulator said this in its...

Banks Divert Loans To Public Sector         In apparent demonstration of low confidence in the economy, banks are focusing their lendings to the public sector to the detriment of the private sector. Despite the increased tempo of economic activities following the lifting of the Coronavirus induced economic...

Banks’ Mortgage Loans Hit N77.61bn - NBS         Banks gave out N77.61bn mortgage loans in three years, according to latest figures obtained from the National Bureau of Statistics. The NBS stated in its selected banking sector report for second quarter that N19.83bn, N32.09bn and N26.68bn were giving...

We’ll Support Farmers With Interest-free Loans – Fed Govt       The Federal Government on Sunday said it would support farmers across the country with interest-free loans. Minister of Agriculture and Rural Development, Sabo Nanono, said his ministry would work with the Central Bank of Nigeria in providing...

CBN Extends AGSMEIS Loans To 14,638 Applicants       The Central Bank of Nigeria has said it is extending its Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) loans to 14,638 applicants in August. In a communiqué from the last MPC report, it stated, “The Agri-Business/Small and Medium Enterprise...