Again, banks begin publishing list of delinquent debtors

Commercial banks  in Nigeria have resumed publishing the lists of delinquent debtors including individuals and companies. This is in line with a directive of the Central Bank of Nigeria (CBN) which has seen the value of nonperforming loans rise in the past few years.

Last year, the CBN ordered banks to publish a list of debtors that failed to meet the deadline in at least three national newspapers each quarter effective from may the 1st 2015.

Delinquent borrowers are expected to get three months to start repayment, while borrowers whose loans remain non-performing after that period will be banned from Nigeria’s foreign-exchange and government bond markets.