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CBN Bars Loan Defaulters from New Credit, Banking Facilities

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CBN Bars Loan Defaulters from New Credit, Banking Facilities

16 Mar, 2026

The Central Bank of Nigeria (CBN) has moved to tighten credit discipline across the banking sector, directing all financial institutions to deny additional loans and banking facilities to large borrowers whose existing loan obligations are classified as non-performing. The directive, issued in a circular dated March 12, 2026, was signed by Mrs Olubukola Akinwunmi, Director of Banking Supervision, and addressed to all deposit money banks operating in the country.................…...READ MORE