Nigeria central bank orders banks to disclose bad debtors

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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