CBN insider credit crackdown forces some bank owners, directors out of banking system

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The Central Bank of Nigeria says tighter enforcement of insider-credit rules has led some bank owners, shareholders, and board members to leave the banking industry. The regulator warned that directors who continue to abuse insider lending rules could lose their board positions.

The Central Bank of Nigeria (CBN) has disclosed that some bank owners, shareholders and board members have exited the banking industry following stricter enforcement of insider credit rules, warning that directors who persist in insider credit abuses could lose their board positions. The post CBN insider credit crackdown forces some bank owners, directors out of banking system appeared first on Nairametrics.