Nigeria central bank orders banks to disclose bad debtors

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Central Bank of Nigeria

The Central Bank of Nigeria has ordered banks to publish lists of individuals and companies who fail to service their loans in an effort to curb a rise in bad debt.

The central bank has "observed the rising trend of non-performing loans (NPLs) in the industry", Tokunbo Martins, director of banking supervision, said in a circular published last week.

The new rule, taking effect on May 1, is being introduced to "ensure that the industry NPL ratio does not exceed the prudential limit of 5%, and to

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