Business
CBN softens enforcement bad loans rules
The Central Bank of Nigeria (CBN) has softened the implementation of rules on bad loans which the apex Bank earlier initiated.
Commercial banks now have four years to absorb impairments arising from the implementation of IFRS 9 accounting standards, thereby, easing fears that an immediate transition would have severe repercussions for banks’ capital adequacy ratios. The apex bank plans to introduce new capital rules in the second quarter.
Bank over the years have suffered damaging crisis of bad debts, which more often than not weakens the solvency and operational capacity of most commercial banks in the country. Consequently, this crisis in addition to other inadequacies in banking operations, have forced some commercial banks into forced merger to strengthen their operational capacity for effective and efficient service delivery, some others have gone through acquisition by str9onger banks, while a few were taken over by AMCON.
Continue Reading
-
Business5 days agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Latest6 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Comments and Issues6 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Business5 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Comments and Issues6 days agoDoes it matter to Africa if Nigel Farage comes to Number 10?
-
Business4 days agoNigeria’s foreign debt climbs 22% to $51.86bn under Tinubu administration
-
Comments and Issues6 days agoIs France Real or Playing Ping Pong With Africa?
-
Comments and Issues5 days agoThe “Onuku” Called Kenneth Okonkwo