i see customers borrowing to repay their loans

Good help my country, what good will that do. Pls get real CBN.

Emeskhalifa:
Can't they be taken to court if they don't want to pay

.
Court?
hmmm
won't say more...nigerian judiciary

very good move by cbn, its called name and shame. am sure people whose names appear every other month will be too ashamed dont forget the coverage and bad press encomium, city people or prime people will give these people i trust sun newspapers. infact they will have a whole column for debtors and their life styles.

Has Buhari repaid the loan he borrowed to purchase the APC presidential form?

Hope my name is not dere. Please notify me so dat i can do d needful

Fourwinds:
Hope my name is not dere. Please notify me so dat i can do d needful

Your name is no 4.

Emeskhalifa:
Can't they be taken to court if they don't want to pay

Isn't as straight 4ward as dat brov

DrWise:
I am not fully in support of this. Publishing the name of an unknown debtor might just be a newspaper waste of space because no one cares.

That's the attitude causing the banking problem. Nice move by the CBN. It's fake millionaires quit splurging on the savings of the poor.

bushdoc9919:


Fiscal discipline...plus it is illegal to refuse to pay back the loan.

Fiscal discipline indeed! So many fat cats are so indebted tI the banks that the banks are now beholden to them. The bank management know insolvency means their banks will go down and all they can do is hope Oga Billionaire makes his payments on time instead of fronting in another used private jet.

DrWise:
I am not fully in support of this. Publishing the name of an unknown debtor might just be a newspaper waste of space because no one cares.

Bros, it actually works!

It is a typical "Naming & Shaming". It worked during the banking crisis of 2009 as it reopened discussions on loan facilities that had become delinquent with no feasible way out.

Individuals and corporate bodies who care about their reputation will not wait till July before they approach their banks for settlement/restructuring.

They should be grateful that advance notice has been given to them.

Emeskhalifa:
Can't they be taken to court if they don't want to pay

You talk as if you don't know our justice administration system. Sometimes, it is whoever goes to court first. Besides, it takes years before court cases are dispensed with

I know of court cases on loans that date back to 2009/2010 that are yet to be resolved. In fact, chronic debtors know that they can get injunctions from our courts very cheaply and the banks would not be able to sell the properties that have been pledged as collateral.

adedayourt:


Isn't as straight 4ward as dat brov

Exactly!

Buhari won't be left out of the list! Remember he borrowed money to buy the APC presidential ticket. And he hasn't payed back yet. The money was about 27million naira. Hope you guys remember?

Adesiji77:


Bros, it actually works!

It is a typical "Naming & Shaming". It worked during the banking crisis of 2009 as it reopened discussions on loan facilities that had become delinquent with no feasible way out.

Individuals and corporate bodies who care about their reputation will not wait till July before they approach their banks for settlement/restructuring.

They should be grateful that advance notice has been given to them.

Yeah, it works for the large corporates and household names who would not want their reputation tarnished. What about the Uches, Kayodes and Zakaris with deliquent Trader loans and ODs who got loans with full intentions of not paying back? They do not have any reputation, hence publishing their names might just be a waste of newspaper space.

Sanusi did it immediately he assumed office and was not very successful, infact Mr. Ololo, the Stock dealer who headed the Ponzi scheme of that period still owes Banks in excess of 100billion today.