Bank Directors Who Facilitate “Bad Loans” To Be Sacked!

Directors of financial institutions who facilitated non-performing loans otherwise known as bad loans face sack.

And this new twist has the backing of industry regulator, Central Bank of Nigeria.

This directive is according to a new code of corporate governance approved by the Central Bank.

Director, Bank Examination Department at the Nigeria Deposit Insurance Corporation (NDIC), Adedapo Adeleke who confirmed this development at a media workshop organised by NDIC for finance reporters in Kano revealed the move was initiated to halt the increasing cases of insider bad loans in banks