Business
Nigerian banks have huge capacity to absorb NPLs – CBN
By Chioma Obinagwam
The Central Bank of Nigeria(CBN) has said that Nigerian banks have the capacity to absorb Non-performing Loans (NPLs).
This is coming on the heels of a recent report from a stress test conducted by a Dubai-based international investment bank, Arqaam Capital, which indicated that seven Nigerian banks are undercapitalised to the tune of N1tn ($3.2bn).
“We need to focus on the capacity of the banks. The banks have huge capacity to absorb these loans. The loans that are not performing can become performing,” the Director of Banking Supervision, Tokunboh Martins disclosed.
Speaking at the 329th meeting of the Bankers’ Committee in Lagos on Wednesday, she said that the banking industry is not the only sector feeling the effect of the current economic recession.
“The fact that the banking industry is feeling the effect of the economic headwinds should be expected. In fact, all the sectors are feeling the effect; that does not mean that one sector should be demonised,” she added.
-
Business5 days agoThe Pros and Cons of Nigeria’s $10bn Surge in Capital Importation
-
Football1 week agoChristian Eriksen stable after collapsing during Denmark–Ukraine friendly
-
Latest6 days agoKwankwasiyya dismisses reports of Kwankwaso’s exit from NDC
-
Featured5 days agoNigeria must move beyond zoning, choose leaders based on competence ahead of 2027 – Baba-Ahmed
-
Featured1 day agoTwo arrested after England team equipment stolen ahead of World Cup opener
-
Business3 days agoGround handlers suspend services to Max Air over unpaid debts
-
Latest4 days agoReps bar first-term lawmakers, block Ugochinyere’s bid for minority leader
-
Latest6 days ago2027: Babachir Lawal backs Tinubu over Atiku, says he remains ‘safer option’