Tagged in: Banking

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No reprieve for Nigeria’s chronic loan defaulters

After pushing banks to create N3.5trn ($9.06bn) of new lending in one year and seeing a spike in non-performing loans, the Central Bank of Nigeria enacted the Global Standing Instruction, which empowers banks to debit accounts of chronic loan defaulters in any bank within Nigeria.

Can Africa’s banks emerge stronger after Covid-19?

Rising household debt, problems for SMEs and the growth of non-performing loans all pose problems for banks, but the pandemic also provides opportunities, says Tom Minney

Where do banks stand in the wake of the Covid-19 pandemic?

Secrecy fuels forex worries in Tanzania

The secrecy that has surrounded Tanzania’s controversial approach to tackling the Covid-19 pandemic – the country has not released national statistics since 29 April – appears to have extended to its management of the country’s foreign reserves.