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Nmaduchidiebere

BAD LOANS: Banks Reduce Consumer Credits By 11%
~0.5 mins read
Lending by banks to consumers fell cumulatively by 11 percent or N100 billion to N1.4 trillion over two months – July and August 2020 – driven by pressure to curtail rising bad loans.
Bankers said the development was prompted by the impact of the COVID-19 pandemic as well as rise in bad loans in the first four months of the year.
Vanguard analysis of the monthly economic reports of the Central Bank of Nigeria (CBN) shows that volume of banks’ lending on consumer credit declined 3.8 percent in July to N1.47 trillion from N1.53 trillion in June.
The decline worsened in August when consumer credit dropped further by 6.7 percent to N1.43 trillion, giving a cumulative decline of 11 percent in consumer credit over the two consecutive months. profile/70948593195F-8AA7-41C8-8563-86DEB0543A83.jpeg
Nmaduchidiebere

SEC, ASHON Move To Resolve Irregular Accounts In Capital Market
~0.4 mins read
The Securities and Exchange Commission, SEC and Association of Securities Dealing Houses of Nigeria, ASHON, are now collaborating to address the issue of accounts irregularities in the Nigerian capital market in their bid to enhance transparency and protect investors’ assets. ASHON disclosed that it is partnering with all the stakeholders including the Nigerian Stock Exchange, NSE, Central Securities Clearing System Plc (CSCS) Registrars and shareholders to ensure that the irregular accounts are updated within the time frame set by SEC.
The Chairman of ASHON, Patrick Ezeagu, urged the investors to liaise with their stockbrokers to provide necessary information that will enhance the conduct of their identity test.
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