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Nairaland Forum / Nairaland / General / Business / 50 Customers Owe Nigerian Banks N5.23 Trillion (19029 Views)
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50 Customers Owe Nigerian Banks N5.23 Trillion by onomeasike: 9:46am On Oct 10, 2016 |
50 Customers Owe Nigerian Banks N5.23 Trillion Oyetunji Abioye Fifty customers owe commercial banks the sum of N5.23tn, representing 33.4 per cent of the total private sector credit exposure of N15.68tn, the Central Bank of Nigeria’s Financial System Stability report has stated. The FSS report, posted on the CBN website on Saturday, also showed that the nation’s banks gave N1.537tn loans to oil companies and some state governments in the first six months of the year. “The total exposure to the top 50 obligors stood at N5.23tn (33.4 per cent) of total industry credit exposure of N15.68tn,” the CBN said in the report. Although the report did not give the identities of the 50 big bank debtors, it indicated that non-performing loans in the period under review grew by 158 per cent from N649.63bn at end-December 2015, to N1.678tn at end -June 2016. The NPL ratio rose to 11.7 per cent from 5.3 per cent, thus exceeding the prudential limit of 5.0 per cent, it stated. It also said that as of June ending 2016, loans to oil and gas sector by the banking sector had hit N4.5tn, representing 28.77 per cent of the total industry loan. The CBN noted that the development did not augur well for the industry well-being. The 81-page FSS report stated in part, “Credit exposure to the dominant sectors is as follows: 28.77 per cent to oil and gas sector; 12.95 per cent to manufacturing; 8.84 per cent to governments; and 8.69 per cent to general commerce. “Credit risk is expected to trend higher into the second half of 2016 owing to increased loan impairments resulting from the depreciation of the naira, inability of obligors to service foreign currency-denominated loans, as well as bank exposures to the oil and gas sector.” A total of N1.204tn loan was given to the oil and gas while N333bn was given some state governments within the six-month period. The report stated, “At end-June 2016, loans to the oil and gas sector constituted 28.77 per cent of the gross loan portfolio of the banking system as credit to that sector grew to N4.511tn, compared with N3.307tn at end-December 2015. Loans to state governments rose to N1,386.61bn from N1,053.97bn at end-December 2015, as declining revenues continued to constrain payment of salary by some states, funding of key services and execution of developmental projects. “This was despite the CBN’s N338bn special intervention scheme designed to refinance states’ debts, as well as a debt restructuring programme introduced by the Debt Management Office, which enabled states to restructure their commercial loans in the preceding period. However, to prevent further financial crisis, a fresh facility of N90bn with a nine per cent interest rate was made available to the states.” According to the CBN, the biting economic recession has made the market share of the five biggest commercial banks in the country in terms of total assets to decline by 17.3 per cent in six months. The report read in part, “In terms of size of assets and deposit of banks, the market share of the five largest banks in the first half of 2016 declined to 43.30 and 51.96 per cent, from 60.61 and 52.94 per cent in the second half of 2015, respectively. “The market share of the largest bank’s deposits and assets stood at 12.84 and 13.52 per cent, respectively in the first half of 2016. The remaining 18 banks had market shares ranging from 0.21 to 6.58 per cent in deposits and 0. 26 to 6. 41 per cent in assets, reflecting low competition in the market.” Despite the improvement recorded relative to the first half of the year, the structure of the banking industry in the first half of 2016 remained oligopolistic, according to the report. Economic and financial experts said the challenging economic situation had led to muted low growth in the banking industry with most banks scaling down drastically on their lending activities. Most banks, they added, were now being preoccupied with how to clean up their books by recovering some of the huge NPLs in their books. http://punchng.com/50-customers-owe-banks-n5-23tn/
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Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by yeyeboi(m): 9:46am On Oct 10, 2016 |
They won't publish their names ![]() ![]() ![]() All these corrupt politicians hiding under buhari's feather 2019 go soon reach all of you will be exposed in Jesus name. Una go borrow money finish with Nigeria name after una go come dey use tax payers money dey clear una debts. ![]() 18 Likes |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Young03(m): 9:51am On Oct 10, 2016 |
my name must follow..I know |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Nobody: 9:52am On Oct 10, 2016 |
But where is lalasticlala sef ![]() |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Cutehector(m): 9:52am On Oct 10, 2016 |
Patience jonathan, dangote, buhari! |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by braine(m): 9:52am On Oct 10, 2016 |
Just 50 people! Jesus! 4 Likes |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by onomeasike: 9:59am On Oct 10, 2016 |
Young03: 9 Likes
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Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Oladimejyy(m): 10:40am On Oct 10, 2016 |
What should we do.mtcheeew..when they were borrowing did they remember us ![]() 2 Likes |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Benjom(m): 11:04am On Oct 10, 2016 |
May God have mercy on us economically. 1 Like |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by veekid(m): 12:34pm On Oct 10, 2016 |
Gbese re o |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Seunpaul01(m): 12:34pm On Oct 10, 2016 |
Alright |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by yekparikpa(m): 12:35pm On Oct 10, 2016 |
This is the only thing we hear these days...FIGURES in trillions! 2 Likes |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by emmabest2000(m): 12:35pm On Oct 10, 2016 |
And So ![]() |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Nobody: 12:38pm On Oct 10, 2016 |
![]() 9 Likes
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Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by martineverest(m): 12:38pm On Oct 10, 2016 |
and they dont want to pay back..y is it dat nigerians dont like paying/servicing their debt |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by ipledge10(m): 12:38pm On Oct 10, 2016 |
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Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Nobody: 12:38pm On Oct 10, 2016 |
![]() ![]() 2 Likes
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Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by PaulIdu: 12:40pm On Oct 10, 2016 |
braine: They meant 50 entities and not people per say |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Nobody: 12:41pm On Oct 10, 2016 |
JESUS! |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Itzurboi(m): 12:41pm On Oct 10, 2016 |
Can you imagine, i swear Naija is doomed... quote me and receive your own share of the doom |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by ShitHead(m): 12:41pm On Oct 10, 2016 |
And Dangote is fifty of them? |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by bigtt76(f): 12:41pm On Oct 10, 2016 |
Why not publish them? ![]() |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by BrutalJab: 12:41pm On Oct 10, 2016 |
Mention their names naaa |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by rasputinn(m): 12:42pm On Oct 10, 2016 |
onomeasike: So what ![]() If fifty of us owe Nigerian banks over 5 trillion naira, how is that a problem.We have the capacity to repay,one way of the other.Oh by the way if we chose not to repay,we just use a portion of it to fight the banks to a standstill in the court 2 Likes |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by emmydollars4life(m): 12:42pm On Oct 10, 2016 |
them go still borrow dey intimidate us with our money nawa oh |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by ALAYORMII: 12:42pm On Oct 10, 2016 |
Chronic debtors |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by rasputinn(m): 12:42pm On Oct 10, 2016 |
onomeasike: So what ![]() If fifty of us owe Nigerian banks over 5 trillion naira, how is that a problem.We have the capacity to repay,one way of the other.Oh by the way if we choose not to repay,we just use a portion of it to fight the banks to a standstill in the court 1 Like |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Bugatie(m): 12:42pm On Oct 10, 2016 |
They have names I believe |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Pavore9: 12:43pm On Oct 10, 2016 |
martineverest: Pay ke? When they know very well that if they go after them to repay the loans, they have Nigerians whose wailing mode will be activated and the cries of "witch-hunt" will rent the air! ![]() ![]() ![]() 3 Likes 1 Share |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by Jay542(m): 12:43pm On Oct 10, 2016 |
We definitely would love to know the names. |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by SamuelAnyawu(m): 12:45pm On Oct 10, 2016 |
rasputinn: Joseph ![]() ![]() |
Re: 50 Customers Owe Nigerian Banks N5.23 Trillion by obembet(f): 12:45pm On Oct 10, 2016 |
we are planning to pay it back next yr |
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