A Central Bank of Nigeria (CBN) report has stated that among the N10.3 trillion in intervention loans disbursed, N193 billion is declared as lost, and another N418.9 billion is considered doubtful.
The report, updated in September 2023, breaks down the bank’s intervention funds over time.
It explains that doubtful loans entail uncertain full repayment, varying from potential complete loss to uncertain outcomes without corrective measures.
Of the total intervention funds, N4.4 trillion has been repaid, leaving approximately N5.8 trillion outstanding, with some loans having tenured repayments.
However, only N969.8 billion of the outstanding sum is past due, as certain loans extend repayment tenures beyond 2023.
The report claims a repayment-to-due amount percentage of 75.8%.
Additionally, the report indicates that N289 billion of the loans are performing, N67.9 billion are substandard, N418.9 billion are doubtful, and N193.9 billion are lost.
The CBN governor, Yemi Cardoso, has criticized the intervention funds administered during Godwin Emefiele’s leadership, arguing that the bank failed to implement interventions effectively.
