Banks collaborate to improve credit repayment, stem bad loans

Banks in the country have com menced a collective scheme targeted at reducing the incidence of non-performing loans also know as bad loans in the industry. The disclosure is contained in a new circular released on Monday by the Central Bank of Nigeria on Monday on containing bad loans, watchlisting chronic bank debtors, among others. The CBN released the guidelines through a circular to all banks and other financial institutions, with the title ‘Operational guidelines on global standing instruction – Individuals. The circular, which was signed by the director, financial policy and…

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