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07/03/2017

Insider Loans Affecting Banking Industry - NDIC

This news update "NDIC: Insider Loans Affecting Banking Industry" was written by Damilola Oyedele in Abuja on ThisDayLive.com. Below is the news update;


NDIC which stands for Nigeria Deposit Insurance Corporation is an institution charged with protecting the banking system from instability occasioned by runs and loss of depositors' confidence has said insider loans, which has a higher percentage of non - performing loans in the industry, have negatively affected the banking sector.

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The Board Secretary /Director (Legal) of the NDIC, Mr. Belema Taribo said these in his submission at the public hearing on four critical economic bills, by the House of Representatives Committee on Banking and Currency, yesterday.

He however did not disclose the worth of the non-performing insider loans. The committee is chaired by Hon. Jones Chukwudi Onyereri.

NDIC Insider Loans

Continue reading from the original source here. You should also check out this news "Man Sentenced For Using Another Man’s Car As Loan Collateral In Illorin" and kindly put down your thought on the comment section below.

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