Nigeria Deposit Insurance Corporation, an independent government agency, said it was concerned about an "increasing wave" of non-performing insider loans in the country's banks.
Such loans are those paid by banks to their directors and shareholders. In a statement, the agency said managing director Alhaji Ibrahim was concerned about the consequences "on the stability of the nation's banking system".
Earlier this month the central bank replaced the board of Skye Bank after it failed to meet minimum capital ratios, saying the bank's non-performing loan ration had been above the regulatory limit for some time.
NDIC Expresses Worry Over Non-Performing Insider Loans
Comms Week22 Jul 20160 Comments
Nigeria Deposit Insurance Corporation, an independent government agency, said it was concerned about an "increasing wave" of non-performing insider loans in the country's banks. Such loans are…
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