Nigeria In One Minute
Banks go after debtor-lawmakers as 8th Assembly rounds up
BANKS are scrambling to recover huge loans from lawmakers before the 8th Assembly rounds up in June.
Investigations showed that in 2015, at the beginning of the 8th Assembly, many banks had offered lawmakers generous personal loans to purchase houses and other types of property.
It was learnt that the loans were between N150 to N200 million and were offered to members of both chambers in a marketing frenzy.
Now, the banks are chasing items listed as collateral in the agreement forms signed by lawmakers in a bid to recover their funds.
The Nation, January 15, 2019
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