CBN Bars Large-Ticket Loan Defaulters from Accessing Further Credit
The Central Bank of Nigeria has instructed banks to restrict certain services for borrowers with non-performing large-ticket loans. The March 12, 2026 directive, signed by Director of Banking Supervision Olubukola Akinwunmi, applies to facilities recorded in the CRMS or private credit bureaus. Affected obligors cannot receive new loans, letters of credit, performance bonds or other contingent liabilities. Banks must also secure existing exposures with additional realisable collateral under Prudential Guidelines. The measure aims to shield the financial system from risks posed by major defaulters. The CBN will monitor compliance and enforce sanctions under the BOFIA 2020. This follows a similar June 2024 directive amid rising non-performing loans above the 5% prudential ceiling.
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