Note:The banks are in better position to understand the ability of clients to pay back loans,as such they should create strategy that will help clients pay back loan to as not to have bad debt on their balance sheet.
All loan can be pay back easily if the loan recipient enjoy strategic support from banks

CHIEF Executive Officer of Ecobank Transnational Incorporated, Ade Ayeyemi, has called on the Nigerian Government to introduce Credit Guarantee Schemes for Micro, Small and Medium Enterprises (MSME) as a measure to hedge their risk. He made the call in Abuja while speaking during the ‘Access to Capital’ panel at the 23rd Nigeria Economic Summit. Reiterating that MSME’s are a fundamental part of the economic fabric in Nigeria and the wider continent and therefore play a crucial role in furthering growth, innovation and prosperity, Ayeyemi suggested that shouldering some of the risk would encourage greater confidence amongst banks to lend to the sector.

“Currently, many banks would rather invest in treasury bills than give credits to individuals which may later result in non-performing loans,” said Ayeyemi. “If the government were to take out part of the risk by saying, ‘we will guarantee’, then I would become indifferent whether I put the money in a treasury bill or an MSME.”

Read more at: https://www.vanguardngr.com/2017/10/ecobank-ceo-advocates-credit-guarantee-schemes-msmes/

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