CBN softens enforcement bad loans rules

February 14, 2019
225 Views

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.

Previous articleTipper driver killed, two others injured
Next articleAnthony Joshua defends IBF, WBA WBO titles in US June 1

You may be interested

BREAKING: FG Takes Action Against Those Who Reportedly Helped Binance Executive Escape From Custody
News
1 views
News
1 views

BREAKING: FG Takes Action Against Those Who Reportedly Helped Binance Executive Escape From Custody

Webby - March 25, 2024

The federal government has frowned on the negligence of those who were in charge of the custody of Binance Executive,…

9 Killed, Houses, Barns And Farmlands Razed In Plateau Communal Clash
News
4 views
News
4 views

9 Killed, Houses, Barns And Farmlands Razed In Plateau Communal Clash

Webby - March 25, 2024

There was a communal clash between the Montol and Taroh ethnic groups in the Ponglong community, Mikang Local Government Area…

BREAKING: NSA Reveals How Binance Executive Escaped, Launches Hunt To Capture Him
News
1 views
News
1 views

BREAKING: NSA Reveals How Binance Executive Escaped, Launches Hunt To Capture Him

Webby - March 25, 2024

The National Security Adviser, Mal. Nuhu Ribadu, has confirmed the escape of Nadeem Anjarwalla, a suspect in the ongoing criminal…

Leave a Comment

Your email address will not be published.