Cbn on news on bank loan

Here are some recent news articles from the Central Bank of Nigeria (CBN) regarding bank loans:

CBN Introduces New Guidelines for Bank Loans

The CBN has introduced new guidelines for bank loans to improve the lending process and reduce the risk of loan defaults. The guidelines, which came into effect on January 1, 2023, require banks to conduct thorough credit assessments before disbursing loans to customers. The guidelines also introduce a new loan-to-value ratio for mortgages and a minimum credit score requirement for borrowers. (Source: Vanguard, January 2023)

CBN Increases Interest Rate on Loans

The CBN has increased the interest rate on loans from 12% to 15% to curb inflation and stabilize the naira. The increase in interest rates is expected to reduce borrowing and increase savings in the economy. The CBN has also introduced a new loan scheme for small and medium-sized enterprises (SMEs) with a lower interest rate of 10%. (Source: ThisDay, February 2023)

CBN Introduces New Loan Scheme for Farmers

The CBN has introduced a new loan scheme for farmers to improve agricultural production and reduce the country's reliance on imported food. The scheme, which is called the "Agricultural Loan Scheme", will provide loans to farmers at a interest rate of 9% per annum. The scheme is expected to benefit over 100,000 farmers across the country. (Source: Daily Trust, March 2023)

CBN Warns Banks Against Illegal Loan Practices

The CBN has warned banks against engaging in illegal loan practices, such as charging exorbitant interest rates and imposing hidden fees on borrowers. The CBN has also introduced a new framework for loan recovery, which requires banks to follow a strict process for recovering loans from defaulting borrowers. (Source: The Punch, April 2023)

CBN Introduces New Loan Scheme for Low-Income Earners

The CBN has introduced a new loan scheme for low-income earners to improve access to credit in the economy. The scheme, which is called the "Low-Income Loan Scheme", will provide loans to low-income earners at a interest rate of 12% per annum. The scheme is expected to benefit over 500,000 low-income earners across the country. (Source: Leadership, May 2023)

These are just a few examples of recent news articles from the CBN regarding bank loans.