House Moves To Restrict FG On Loans, Agreements, Others       The House of Representatives on Tuesday held a public hearing on the Treaties (Making Procedure) Bill 2020, which sought to review and amend the Treaties (Making Procedure, etc.,) Act of 1993 imposed by the military. The bill...

We'll Increase Agric Loans By 6% - CBN         The Central Bank of Nigeria (CBN) said it will increase banking sector credit to the agriculture sector to 10 per cent from the current four per cent, indicating a six per cent increase. CBN Governor Godwin Emefiele...

Default On Loans With Collateral Worsened In Q4, 2020 – CBN         The default on loans with collateral worsened in the fourth quarter of 2020, according to the Central Bank of Nigeria. The statistics department of the CBN disclosed this in its fourth quarter ‘Credit condition survey...

One Million Borrowers Got Loans Below 20% Interest Rate - CBN Deputy Gov         The Deputy Governor, Financial Systems Stability Director, Central Bank of Nigeria, Mrs Aisha Ahmad, has said that over one million customers who borrowed money from the Deposit Money Banks got the loans...

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...