Loans: Banks put up chronic debtors’ property for sale

The Nigerian banks had published the list of their chronic debtors who were unable to meetup with the july 31 deadline given by the central Bank of Nigeria (CBN)to repay their loans.

17 banks had published the names of their delinquent debtors and of the N175.61bn being owed the banks, 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.

A document obtained by NAN, lists 43 property put up for sale by Sterling Bank with a total value of over N3bn.

The property 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.


Estate surveyors and valuers had received directives from some banks banks to help dispose the property which are spread across the country.