Banks to publish serial debtors’ names

The Central Bank of Nigeria on Thursday directed all Deposit Money Banks operating in the country to commence the publication of the names of chronic debtors from August 1,
Punch reports.

The Director, Banking Supervision Department, CBN, Tokunbo Martins, stated this shortly after the 322nd Bankers’ Committee meeting, which was held at the central bank’s headquarters in Abuja.

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Apart from the issue of non-performing loans, other matters discussed at the meeting were the biometric registration of bank customers, liquidity of the foreign exchange market and the credit culture within the banking system.

On the issue of NPLs, Martins said the August 1 date was chosen for the publication of the names of debtors because it would mark the end of the three-month grace period given by the CBN for the debtors to service their debts with DMBs.