Shareholders Ask Cbn To Publish Names Of Bad Debtors

Shareholders of banks quoted on the Nigerian Stock Exchange have urged the Central Bank of Nigeria to publish the names of non-performing debtors of all the banks in the country in the spirit of transparency.

The leaders of the various shareholder groups, who spoke with our correspondent on Monday, stressed the need for the apex bank to publish the names of those who were indebted to all the banks, especially the ones that were non-performing, now that the audit of banks had been concluded.

The Shareholders‘ position, according to the President of the Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, is premised on the fact that almost all the banks made provisions for bad loans in their 2008 financial year.

According to Okezie, ‘‘The CBN should publish the names of the bad debtors of all the banks, both the cleared and uncleared ones, to ensure that the process is transparent, because all the banks made provisions in their last financial year.‘‘

On the indictment of Spring Bank and BankPHB by the CBN, Okezie said, “The rot in the banks was due to inadequate regulation by the CBN. The acquisition of Spring Bank by BankPHB was the beginning of their problems. All the money the bank raised was used to buy Spring Bank. Despite the case in court, they bought Spring Bank, and the CBN approved it.‘‘

Another shareholder, who is the President of the Ibadan Zone Shareholders Association, Chief Aderemi Oyepeju, agreed with the position of Okezie, but he suggested that the apex bank should publish only the names of the bad debtors who were not showing the banks their willingness to pay.

According to him, “I agree partially with that position, and disagree. Those who have shown no sign of repayment should be published.

“Names of debtors, who display nonchalant attitude to repayment should be published, but those who are showing signs of repayment should not be published.‘‘




http://www.punchng.com/Articl.aspx?theartic=Art200910071324998

and what happens when we all see Lamido Sanusi on any of the lists?

even his family members


true talk

 If CBN publishes the name of bad debtors, wahala go burst, cos no be only big man dey owe. A lot of Nigerians dey owe sum less than N1,000,000. Some people go take small loan dissappear.

A lot of parents will be disgraced o! Make we just dey follow Mallam Sanusi  jeje.

I feel you there jare.

, Am really surprised at your reasoning, in addition to publishing names n promoters of very bad and non-performing accounts,Sanusi should sponsor a bill seeking death sentence of promoters of these bad and non-performing loans.These bastards stiffen the economy by cutting monies for investments that would have been beneficial to the entirety of the citizenry thereby seriously hampering opportunities 4 u n i n u think dats ok?Guy it's either one of 2 things here:

1.U have a non-performing loan in a financial institution in Nigeria or,
2.your 2 naive to understand that banks are the engine for growth in any economy.