CBN To Publish Names of debtors In Financial Industry

The Central Bank of Nigeria says it will publish names of debtors in the financial industry and reduce annual spending limits on naira debit card holders in the diaspora.

Speaking at the 321st Bankers Committee Meeting which includes officials from the apex bank and chief executives of commercial banks; participants expressed concerns over the rising non-performing loans in the financial sector.

CBN's director for Banking Supervision, Tokunbo Martins, noted bad and chronic debtors will be denied access to foreign exchange and would have their identities revealed to ensure the safety and soundness of trade deals.