NDIC EXPRESSES WORRY OVER NON-PERFORMING INSIDER LOANS



The Nigeria Deposit Insurance Corporation said on Friday that it was concerned about an “increasing wave” of non-performing insider loans in the Nigerian banking system.
Such loans are those paid by banks to their directors and shareholders.
In a statement, the agency said Managing Director, Alhaji Umaru Ibrahim, was concerned about the consequences “on the stability of the nation’s banking system”.
Earlier this month the Central Bank of Nigeria ( CBN) replaced the board of Skye Bank after it failed to meet minimum capital ratios, saying the bank’s non-performing loan ration had been above the regulatory limit for some time.

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