The Central Bank of Nigeria CBN has ordered bank directors with non-performing insider-related loans to step down immediately.
Insider loans refer to loans granted by a bank to its own executives, directors, employees, major shareholders, or related parties.
The directive was issued in a circular signed by the Acting Director of Banking Supervision, Adetona Adedeji, on Monday.
According to the CBN, the decision aims to strengthen corporate governance and improve risk management in the banking sector.
