FirstBank Urges CBN To Relax Stringent Risk Assessment For SMEs

The Group Managing Director of First Bank Plc, Mr Stephen Onasanya has called on the Central Bank of Nigeria (CBN) to unlock lending to the Small and Medium Enterprises (SMEs) by increasing the tolerance level for non-performing to the sector from the current 5 per cent Mr Onasanya made the call in Lagos yesterday at the CEO Round table on Sustainability where he gave a general remark to business leaders and representatives from education, trade, industry and agencies of government.

The outgoing First Bank GMD said Nigerian banks should be encouraged to play their developmental role in the economy.

But for banks to play that role very well, he advised, they must redefine their tolerance limit for credit risk assessment and non-performing loans to the SME segment of the market

The current non-performing loan (NPL) ratio for the MSME sector is put at five per cent by the Central Bank of Nigeria…

Culled from

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