{"id":15946,"date":"2019-09-25T18:30:23","date_gmt":"2019-09-25T18:30:23","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=15946"},"modified":"2019-09-25T18:30:23","modified_gmt":"2019-09-25T18:30:23","slug":"cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors","title":{"rendered":"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors"},"content":{"rendered":"

The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe.<\/p>\n

The CBN Governor,\u00a0Godwin Emefiele<\/a>, while warning that the era of arm chair banking was over, said the banks must be major players in growing the economy.<\/p>\n

He maintained that the days of non-performing loans (NPLs) had become history in the country \u201cas anyone who benefits from any facility must pay back\u201d.<\/p>\n

The CBN Governor who was represented by the Deputy Governor, Economic Policy, Dr. Joseph Nnanna, spoke at the 12th Annual Banking and Finance Conference, in Abuja on Tuesday.<\/p>\n

His words: \u201cWe do not want the banks to be money changers. Banking is not banking if you only play in the government fixed income space.<\/p>\n

\u201cBanking becomes meaningful when you take liquidity excesses from your surplus centres and channel them into scarce areas, that way you are transforming liquidity into assets and you are growing the economy and creating employment.\u201d<\/p>\n

The era when banks deployed their assets in fixed income instruments particularly Treasury Bills (TBs) and Bonds at the expense of the real sector \u201cis over\u201d.<\/p>\n

He however, charged the banking sector not to relent in their efforts to meet up with their responsibility of stimulating the economy.<\/p>\n

Emefiele, also implored the banks to totally embrace digital operation, saying that brick and mortal banking had gone.<\/p>\n

Emefiele said: \u201cToday, with our new generation banks, the players of this space are digital in nature. We have gone beyond armchair banking where players play safe. Today, the\u00a0CBN<\/a>\u00a0is calling on the banking system to be alive to its responsibility. We cannot conceive an economy without banks and neither can we conceive banks without an economy.<\/p>\n

\u201cWhat do I mean by this? What I am simply saying is that the days of armchair banking, playing in the treasury bills space- those days are right behind us. The CBN is bullish and we have in fact, taken our responsibility very seriously.<\/p>\n

\u201cIn the past months, we have come with new initiatives. The loans to deposit ratio is aimed at transforming liquidity management into risk asset management and asset transformation.\u201d<\/p>\n

Expressing concern about unemployment, Emefiele urged the banks to play a crucial role by supporting government in asset creation.<\/p>\n

\u201cWe must support the government in creating jobs for the teeming population,\u201d he said.<\/p>\n

He implored banks to redirect their idle liquidity by transforming them into asset creation tools.<\/p>\n

\u201cWe have also tried to de-risk the banking industry. The days of non-performing loans are behind us and we call upon the judiciary to assist us in this regard,\u201d Emefiele said.<\/p>\n

Going forward, he said: \u201cWe shall learn to borrow in the old fashion way; by paying back when we have accessed facility from the banks. As Nigerians, the future of our country is in our hands and that future must be defined by the banking industry. Without money, we go nowhere in any economy in the world: with money we can go places.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe. The CBN Governor,\u00a0Godwin Emefiele, while warning that the era of arm chair banking was over, said the banks must be major players in growing the economy. He maintained that […]<\/p>\n","protected":false},"author":62,"featured_media":13827,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[503,531,653],"class_list":["post-15946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cbn","tag-debt","tag-emefiele"],"yoast_head":"\nCBN boss Emefiele seeks help of judiciary to rescue banks from debtors - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-25T18:30:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"463\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alico\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"alico\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors\"},\"author\":{\"name\":\"alico\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"headline\":\"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors\",\"datePublished\":\"2019-09-25T18:30:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors\"},\"wordCount\":517,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg\",\"keywords\":[\"CBN\",\"debt\",\"Emefiele\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors\",\"name\":\"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors - Nigeria\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg\",\"datePublished\":\"2019-09-25T18:30:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"description\":\"The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg\",\"width\":750,\"height\":463},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/nigeria\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#website\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/\",\"name\":\"Africa Press | Nigeria | Homepage\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\",\"name\":\"alico\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/author\/alico\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors - Nigeria","description":"The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors","og_locale":"en_US","og_type":"article","og_title":"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors","og_description":"The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe.","og_url":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors","og_site_name":"Nigeria","article_published_time":"2019-09-25T18:30:23+00:00","og_image":[{"width":750,"height":463,"url":"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg","type":"image\/jpeg"}],"author":"alico","twitter_card":"summary_large_image","twitter_misc":{"Written by":"alico","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors"},"author":{"name":"alico","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7"},"headline":"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors","datePublished":"2019-09-25T18:30:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors"},"wordCount":517,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg","keywords":["CBN","debt","Emefiele"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors","url":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors","name":"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors - Nigeria","isPartOf":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg","datePublished":"2019-09-25T18:30:23+00:00","author":{"@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7"},"description":"The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe.","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#primaryimage","url":"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg","contentUrl":"https:\/\/static.africa-press.net\/nigeria\/2019\/08\/Godwin-Emefiele2-1.jpg","width":750,"height":463},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/nigeria\/all-news\/cbn-boss-emefiele-seeks-help-of-judiciary-to-rescue-banks-from-debtors#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/nigeria\/"},{"@type":"ListItem","position":2,"name":"CBN boss Emefiele seeks help of judiciary to rescue banks from debtors"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/nigeria\/#website","url":"https:\/\/www.africa-press.net\/nigeria\/","name":"Africa Press | Nigeria | Homepage","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/nigeria\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7","name":"alico","url":"https:\/\/www.africa-press.net\/nigeria\/author\/alico"}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/15946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/comments?post=15946"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/posts\/15946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media\/13827"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/media?parent=15946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/categories?post=15946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/nigeria\/wp-json\/wp\/v2\/tags?post=15946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}