Banks in the country have continued to write off debts and debit accounts of recalcitrant debtors in other banks in order to tone down the volume of non-performing loans in their financial accounts, The PUNCH has learnt. Figures obtained from the Central Bank of Nigeria on Thursday, revealed that the non-performing loans in the banking sector stood at N1.5tn of N37.81 total credit in the sector as of the end of June 2023. This represented 4.1 per cent of the loans in the period under review, according to the report. A report released by the CBN on personal comment of members of the MPC said, “The non-performing loans ratio remained below the maximum prudential requirement of 5.0 per cent. On the banks, the reports said the capital adequacy ratio and Liquidity Ratio had remained above the minimum thresholds.

Source: Punch September 29, 2023 17:51 UTC