N747b debts: EFCC gives bank debtors two weeks to pay – The Nation

The Economic and Financial Crimes Commission (EFCC) yesterday gave over 300 debtors of eight banks a two-week ultimatum to pay up or face prosecution.

The commission gave the ultimatum in a statement in Abuja by its Head of Media and Publicity, Mr. Femi Babafemi.

About 300 debtors, including some businessmen and sacked bank executives, owe the banks over N747billion.

As at November 8, the EFCC confirmed that it had recovered N171billion.

It was gathered that most of the debtors had negotiated with the anti-graft commission to pay up the loans within two to three weeks.

CBN tightens noose, puts N100m debtors in new list – The Guardian

The noose is tightening: Any corporate body or individual, who is indebted to any of the nation’s 24 banks to the tune of N100 million and above and has defaulted in the payment terms will appear in a new list being compiled by the Central Bank of Nigeria (CBN).

To enable it compile a comprehensive list of this category of borrowers, the CBN at the weekend directed all the banks to furnish it with the list of individuals and corporate organisations with non- performing loans from N100 million and above.

The Presidency yesterday rose in defence of the sanitisation of the banking sector by the CBN, saying that the reforms had nothing to do with the enthronement or promotion of “the so-called Northern agenda” as alleged in some quarters.

The aim of the policy, the Presidency insisted, was to salvage the sector from imminent collapse.

Bank Debtors Get 7-Day Ultimatum – Thisday

Debtors owing the five troubled banks whose chief executives were axed last Friday by the Central Bank of Nigeria (CBN) seem to have no breathing space any longer.
The Economic and Financial Crimes Commis-sion (EFCC) yesterday handed over a seven-day ultimatum to them to pay their debts or face arrest, prosecution and possible seizure of their assets.

Yesterday, CBN unfolded the list of debtors comprising companies and their directors who secured loans worth N747 billion from the affected banks.
On the list of directors of such companies are prominent businessmen, top bankers, politicians and other important dignitaries.

EFCC Chairman Farida Waziri told journalists that the anti-graft agency opted to go tough on the debtors because of the urgent need to salvage the financial sector from total collapse and restore discipline to the sector.

EFCC to debtors: Repay or go to jail – Daily Trust

Debtors of the five ailing banks have six days from today to organize repayments or risk arrest, prosecution and seizure of their assets, the Economic and Financial Crimes Commission (EFCC) said yesterday.

“We already have the list of the five banks’ debtors with us in EFCC and they have just one week to bring in their cheques or drafts to us or we begin their arrest and prosecution as well as confiscation of their assets,” EFCC chairman Farida Waziri told newsmen in Lagos yesterday.

The Central Bank of Nigeria on Tuesday published the names of over 200 people and organisations owing Oceanic, Finbank, Intercontinental, Union and Afribank over N746 billion non-performing loans. On the list were companies belonging to top operators of the nation’s stock market and the oil industry, bankers, government agencies as well as well-connected billionaire businessmen.