The Central Bank of Nigeria has directed banks to restrict access to certain banking services for large borrowers with non-performing loans. The directive was issued in a letter dated 12 March 2026 and signed by the Director of Banking Supervision, Olubukola Akinwunmi.
Under the new rule, borrowers whose loan facilities are classified as non-performing and recorded in the Credit Risk Management System or any licensed private credit bureau will not be eligible for additional credit facilities.
The apex bank said the restriction also covers other banking services, including letters of credit, performance bonds, advance payment guarantees and bankers’ confirmations. Banks have also been instructed to obtain additional collateral from affected borrowers to secure existing exposures.
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The CBN said the measure is aimed at strengthening credit discipline and safeguarding financial system stability, warning that banks that fail to comply with the directive will face regulatory sanctions under the Banks and Other Financial Institutions Act 2020.
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