First Bank To Publish Names Of Delinquent Debtors

First Bank is set to publish the name of delinquent debtors, including directors, subsidiaries, persons and entities, this month, June 2022, in line with a directive by the  Central Bank of Nigeria (CBN).

Gatekeepers News reports that the bank made this known in a notice published in This Day Newspaper on Monday.

Apart from publishing their names, the CBN will also impose sanctions on the debtors, including a ban from participating in the Nigerian Foreign Exchange and Government Securities Markets, according to the notice.

The bank noted that the sanctions will not stop other actions it will take to recover the loans from the debtors.

It further urged debtors to settle their debts before such actions are taken.

The statement reads: “In line with the Central Bank of Nigeria directive, our Quarter 2, 2022 publication for delinquent debtors on our books in Thisday Newspaper in three (3) other national newspapers is scheduled for June 2022.

“Please be informed that the publication will include the names of the directors, subsidiaries, persons and entities related to the delinquent debtors.

“We, therefore, notify all FirstBank debtors, whose obligations have fallen due and remain unpaid, to liquidate their indebtedness to the Bank on or before June, 2022, failing which the Bank will cause their names to be published as directed by the Central Bank of Nigeria.

“In addition to the publication of the names of the debtors, the CBN will impose further sanctions on the debtors, including a ban from participating in the Nigerian Foreign Exchange and Government Securities Markets. These sanctions on the debtors will not impede other actions that FirstBank is currently taking or may choose to take to recover the loans from the debtors.

“All affected customers should immediately settle their indebtedness to the Bank.”