In a move aimed at strengthening financial stability and instilling discipline in the banking sector, the Central Bank of
The Managing Director/Chief Executive Officer, NDIC,
He, however, declined to disclose the names of the affected bank customers, saying that their names would "be populated through the CBN's Credit Risk Management System (CRMS) and approved private sector credit bureaus."
The central bank had in 2012 barred banks in the country from extending further credit to 113 companies and 419 directors/shareholders.
The CBN had arrived at the decision then as a result of the reluctance of the debtors to pay back their loans despite the purchase of the debts at an agreed price by the
Continuing, the NDIC boss noted that the corporation continues to face the challenge of debt recovery in terms of the debt owed the closed banks.
Some of such debts, according to Ibrahim "remain unrecovered since 1994." According to him, the challenges of lending in the Nigerian environment include, corporate governance, impact of fixed income securities on the financial position of deposit money banks and technological innovations such as mobile money payment remains topical.
In addition, he pointed out that there was need to focus on challenges faced by examiners in appraising banks.
Furthermore, Ibrahim argued that the future of banking would be more complex in terms of product offerings due to latest Information Communication Technology (ICT), saying it provides a compelling reason for examiners to be proactive.
He added: "You will agree with me that radical reforms have taken place in the banking industry since the last
"Supervisory and financial reporting approach such as macro prudential supervision, sustainable banking, International Financial Reporting Standards,
The objective of the conference was to update bank examiners' knowledge and skills in contemporary supervisory toolkits for delivering their mandate.
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