CBN directs banks to restrict banking services to ALL loan defaulters

CBN directs banks to restrict banking services to ALL loan defaulters

The Central Bank of Nigeria (CBN) has asked commercial banks to restrict loan defaulters, specifically large-ticket obligors, from accessing credit facilities.

A large ticket obligor is a borrower (an individual or company) that owes a very large amount of money to a bank.

The CBN issued the directive in a circular to banks seen by TheCable on Monday.