CBN directs bank directors with non-performing insider loans to resign immediately
[NigerianEye - Nigeria] - 18/02/2025
The Central Bank of Nigeria (CBN) has directed bank directors with non-performing insider-related loans to step down immediately. Insider loans are loans granted by a bank or financial institution to its own executives, directors, employees, major shareholders, or other related parties. CBN gave the directive in a circular signed by Adetona Adedeji, acting director of banking supervision, on Monday. According to the apex bank, the move is to strengthen corporate governance and risk management within the banking sector. To mitigate potential risks, the financial regulator advised banks to (…)
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