- According to data by the CBN, Nigerian bank non-performing loan has hit N1.5 trillion
- N1.5 trillion worth of non-performing loans was reported in the banking industry by June
- The amount is made up of 4.1% of the total N37.81 trillion in credit as of the end of June 2023
To reduce the amount of non-performing loans in their financial accounts, banks across the country have reportedly proceeded to write off the debts and debit accounts of obstinate borrowers in other banks.
Data released by the Central Bank of Nigeria has shown that there were N1.5 trillion worth of non-performing loans in the banking industry out of a total of N37.81 trillion in credit as of the end of June 2023.
