Absence of defence counsel stalls N2 8bn fraud trial of ex-NAMA MD, Abdulsalami pmnewsnigeria.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pmnewsnigeria.com Daily Mail and Mail on Sunday newspapers.
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The suspension of the 64-day-old nationwide strike embarked upon by the Judiciary Staff Union of Nigeria, JUSUN, has been received with mixed feelings in Abuja. Some lawyers described the suspension as a welcome development, owing to the strategic importance of the judiciary, others expressed the reservation that since all issues which warranted the strike have […]
RipplesMetrics: Nigeria ranks 10th in non-performing loans, as micro-finance banks write-off N7 35bn bad debts in 5 years ripplesnigeria.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ripplesnigeria.com Daily Mail and Mail on Sunday newspapers.
Even with a consistent decline in the last three years, Nigeria’s non-performing loans ratio is still one of the highest among peers in Africa at 10th place.
The latest banking data published by the National Bureau of Statistics (NBS) reveal that out of the N19.46 trillion loans given out to customers in the third quarter, 5.73 per cent which is N1.16 trillion is in default, a figure higher than nine other African countries.
South Africa, Africa’s second largest economy, has a non-performing loan ratio of 5 per cent as at September 2020; Egypt, 3.9 percent as at June 2020; Botswana, 3.9 per cent; Lesotho, 4.5 percent; Gambia, 3.3 percent; Mauritius, 5.6 percent; Seychelles, 2.6%; Rwanda, 4.9 per cent; and, Uganda, 5.7 per cent.