Nigerian Lenders Unveil Asset Remedy Plans After Regulator Order

Top Nigerian banks will make provisions for non-performing loans and cut exposure to certain clients that are above regulatory thresholds, responding to a central bank directive that raised questions and hurt their shares.

Falling into line with the regulator’s request will enable them pay dividends, director bonuses and invest in foreign subsidiaries after Central Bank of Nigeria this week barred them from doing so until they get their books in order.