The World Bank has revealed that non-performing loans across Nigerian banks have reached an alarming 5.1 percent, according to a report. The Nigeria Development Update published by the global apex bank disclosed that the ratio of NPLs to total loans increased by 0.6 percent to 5.1 percent in the first quarter (Q1) of 2024, compared to Q1 2023. “This ratio is marginally above the prudential benchmark of 5.0 percent,” it said. Non-performing loans are those whose obligation to pay or service has not been met by the debtor at the…
Read MoreNon-Performing Loans In Banks Hit 5.1% – World Bank
