CBN (The Central Bank of Nigeria), directed commercial banks to restrict access to certain banking services for large ticket borrowers with non performing loans. Officials took this decisive step on March 12 2026 to safeguard the financial system and strengthen credit discipline.
Central Bank Issues Circular
Dr Olubukola Akinwunmi Akinniyi signed the circular as director of banking supervision at the Central Bank of Nigeria. Consequently the bank sent the document to commercial banks the next day and ordered immediate action.
The regulator acted to limit risks from major defaulters. Moreover the move built on earlier rules from 2014 that barred loan defaulters from fresh credit.
Details of Restrictions
The Central Bank of Nigeria stated clear limits in the circular. “Any large ticket obligor with a non performing facility recorded in the CRMS and or any licensed private credit bureau shall not be granted additional credit facilities” it directed.
In addition the regulator barred such obligors from banking facilities or contingent liabilities. “In addition such obligors shall not be granted banking facilities or contingent liabilities such as bankers’ confirmations, letters of credit performance bonds or advance payment guarantees” the circular continued.
