Nigeria Wants Banks to Alter 65% of Loans Amid Economic Fallout
- Lenders are already busy reorganizing $20 billion of debt
- Banks can revamp credit terms without booking provisions
Central Bank of Nigeria Governor Godwin Emefiele
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
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Nigeria’s central bank wants the nation’s lenders to restructure almost two-thirds of all loans to help borrowers cope with lower oil prices and economic fallout from the coronavirus.