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‘Breasts on lantern’: CBN speaks on banks' 'inhumane, unethical debt recovery practices' - Premium Times Nigeria

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‘Breasts on lantern’: CBN speaks on banks’ ‘inhumane, unethical debt recovery practices’

The Central Bank of Nigeria says it is unaware of crude debt recovery methods adopted by some microfinance banks.

In a mail sent to PREMIUM TIMES on Monday, the CBN said it is not aware of the practices and never approved of the unethical and embarrassing methods deployed by the said banks to recover debts from their customers. In its statement, apex bank said it had earlier in 2016 issued a Consumer Protection Framework requiring financial institutions under its regulatory purview to adopt debt recovery processes ”that are courteous and fair to consumers, amongst other things”.

 

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