The Central Bank of Nigeria (CBN) has approved a restructuring of existing bank loans from a short term repayment period to a minimum of 20 years, as part of bailout for financially ailing states.
Loans for salary arrears will now also be extended to a minimum of 15 and not more than 20 years.
The CBN governor Godwin Emefiele announced the apex bank’s restructuring at the National Economic Council (NEC) meeting.

Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp