BREAKING: CBN Directs Banks to Restrict Banking Services to Loan Defaulters
The Central Bank of Nigeria (CBN) has directed commercial banks to restrict banking services for loan defaulters, particularly large-ticket obligors.
A large-ticket obligor refers to a borrower either an individual or a company that owes a significant amount of money to a bank.
The directive was contained in a circular issued by the CBN to commercial banks.
Details later.