Financial experts have called on the Central Bank of Nigeria (CBN) to prosecute bank directors with non-performing loans, rather than merely asking them to resign.
Former Executive Secretary of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Uju Ogubunka, emphasized that prosecuting directors associated with bad loans would serve as a deterrent and enforce corporate governance.
“We expect the regulators to prosecute them in court and hope for justice, as a deterrent measure to other erring bank staff. This is a more innovative approach in tackling bad loans than just asking the directors to resign without facing the consequences of their actions,” Ogubunka said.