NDIC sees high loan provisioning by banks next year

The Nigeria a Deposit Insurance Corporation (NDIC) at the weekend said the loan loss provisioning by banks will be high next year following the implementation of the IFRS9 standard.
Adeleke, A. A, director, bank examination department, said this at the 2017 workshop for business editors and finance corespondents organised by NDIC in Kano.
The CBN had on December 20, 2016 issued its initial Guidance Notes for IFRS 9 Implementation.
Adeleke was concerned that the banks non-performing loans which stood at about 11 percent in 2016 has risen to over 15 percent compared to five percent regulatory threshold.