The current figure from the National Bureau of Statistics (NBS) shows that the total loans in the banking sector was N15.35 trillion as of the end of March.
Statistics of debtors reeled out by the agency show that about 3,891 firms and other debtors have taken individual loans above N1 billion, totalling N13.19 trillion of loans in the banking sector.
It further revealed that 1,205 debtors who had collected loans between N500 million and N1 billion are indebted to the banks to the tune of N744.72 billion.
Besides, the agency said 4,441 debtors owed banks between N100 million and N500 million each, while 3,486 debtors who took loans of between N50 million and N100 million owe banks N229.56 billion.
Furthermore, 17,883 debtors who took loans of between N10 million and N50 million owe banks N382.6 billion, while 87,485 debtors who took loans of between N1 million and N10 million owe banks about N286.98 billion.
In the data, 2.2 million debtors who took loans up to N1 million owe banks N122 billion.
NBS also said non-performing loans stood at N1.676 trillion as of the end of March 2019.
The gross loans recorded in the banking sector stood at N15.480 trillion, while the loans after specific provisions stood at N13.739 trillion in the period under review.
The ratio of the non-performing loans to total loans was 10.83 per cent, while non-performing loans to total loans after specific provisions was 12.2 per cent
The figure of non-performing loans at the end of 2018 was N1.792 trillion, while the gross loans and loans after specific provisions were N15.35 trillion and N13.562 trillion, respectively.
It would be recalled that recently the Asset Management Corporation of Nigeria (AMCON) released names of chronic debtors saying almost 67 per cent of the N5 trillion outstanding debts it was trying to recover are owed by only 20 individuals/entities who had manipulated their way to emerge as members of the national assembly, ministers, chairmen and women of big organisations and pro-chancellors of universities.
“Sadly, these are the calibre of people we respect in Nigeria but these people are not role models. How can you be a role model, when you cannot honour a simple obligation?
“That is why I have been consistent in the call for the return of the Failed Bank Act. The way we are handling the issue in the country suggests that we are encouraging a lot of financial rascality,” said the managing director/chief executive officer of the corporation, Mr. Ahmed Kuru.
