Banks still exposed to N398bn non-performing loans – NDIC

Managing Director:CEO of NDIC, Alhaji Umaru Ibrahim05 November 2014, Lagos — The Nigerian deposit banks, as at September 2014, were exposed to about N398 billion non-performing loans, the Nigerian Deposit Insurance Corporation (NDIC) has revealed.

The Managing Director/CEO of NDIC, Alhaji Umaru Ibrahim, disclosed this yesterday in Lagos while briefing members of the House of the Representatives Committee on Banking and Currency who were at the NDIC’s office on oversight function.

He said the total assets of the deposit money banks currently stood at N30 trillion while the total deposits stood at N17.116 trillion.

He said capacity adequacy ratio as at the period under review stood at 17.5, while average liquidity ratio was 66.6 percent.

The NDIC boss, however, noted that the liquidity level of the banks was still healthy, warning that there may be systemic shocks in the future.

He said total loans and advances stood at N15.5 trillion.

A breakdown of the loans and advances showed that oil and gas still got the most credit with N2.81 trillion, representing 24.33 percent.

Manufacturing followed with N1.557 trillion or 13.15 percent.

General activities got some N1334 trillion, representing 11.27 percent while agriculture got some N415.89 billion or 3.6 percent.

Earlier, Rep. Sir Jones Chukwudi Onyereri, the Chairman of the House Committee on Banking and Currency said their visit was informed by their concern for the Nigerian Banking industry and the general performance of NDIC.
*Chris Agabi – Daily Trust

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