CBN warns states against excessive overdrafts, short-term credits

Tribuneonlineng | 12-05-2026 07:17pm |

The Central Bank of Nigeria has issued a warning regarding the potential governance and compliance risks associated with the growing non-interest banking sector in the country. The bank emphasized that inadequate oversight in this sector could undermine public trust and jeopardize the stability of the financial system. Additionally, the Central Bank advised state governments to refrain from excessive reliance on overdrafts and short-term borrowing, highlighting the need for prudent financial management to ensure sustainable fiscal practices.

Stay Updated with the Latest News!

Don't miss out on breaking stories and in-depth articles.