Business
Bad bank debtors to lose property
After the naming and shaming of chronic debtors done by some Money Deposit Banks in the country within the week, they have gone step further in efforts to recover the loans, by making arrangement to sell the properties of the loan defaulters.
Already the banks have compiled lists of houses, hotels, filling stations and schools, among other property used as collateral by debtors and penciled them for sale, in a bid to recover their capital.
The debtors list published so far by 17 banks revealed that the banks are owed about N175.61bn. First Bank has N43.72bn non-performing loans; Unity Bank, 45.52bn; Access Bank, N3.4bn; Diamond Bank, N47.17bn; First City Monument Bank, N17.1bn; Ecobank, N5.4bn; UBA, N9.3bn; and Wema Bank, N1.26bn.
While the Assets Management Company of Nigeria, Standard Chartered Bank, Keystone Bank and others are waiting to publish their lists of debtors next week, the total number of debtors so far released by the banks, after removing some names due to litigation and last-minute renegotiation, is 606.
Read also: Julius Berger, Dantata, others fault CBN on debtors’ list
It was gathered that some of the banks had already engaged the services of estate firms/agents to dispose the real estate assets used as collateral by the debtors.
Among the properties listed, include a five-bedroom detached house located in Magodo, Lagos, and offered for N105m; a hotel in Osogbo, Osun State, N241m; a two-wing duplex in Lekki Phase 1, N150m; a storey building in Garki, Abuja, N172m; a storey building in Ibadan, Oyo State, N30m; and a commercial/residential property in Ilorin, Kwara State, N70m.
Also, there is a storey building in Akwa Ibom State, N29m; a filling station at Owode/Idi-Iroko Road, Ogun State, N2.8m; detached blocks of flats, duplex and school halls at Asaba, Delta State, N135m; a block of flats and other adjoining property in Asaba, Delta State, N135m; a detached house in Maitama District, Abuja, N305m; and a bungalow in Benin City, Edo State, N14m.
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