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| Oduoza |
The Group Managing Director, United Bank for Africa (UBA), Phillips
Oduoza, on Friday said the Non-Performing Loans (NPLs) in the banking sector
was still minimal.
Oduoza said that NPLs had not reached the five per cent
threshold set by CBN for the sector.
He said that as long as banks were still doing business, the
NPLs would rise, adding the authorities were working hard to ensure stability
in the financial system.
The 2013 Annual report of the Nigeria Deposit Insurance
Corporation (NDIC) said the volume of NPLs increased by N38.05 billion or 13.30
per cent to N324.14 billion in December 2013 from N286.09 billion in 2012.
