Recoveries of Loans & Advances

Recoveries involve the management of loan portfolio with the sole objective of converting the assets to cash. Recovery of the defunct banks' debts has been very difficult due to poor loan documentation, prolonged litigation and the fact that the bulk of the loans were not properly granted and were unsecured.

The total book value of the risk assets of the forty-three (43) closed banks amounted to -N-141.155 billion . Recoveries made since the commencement of liquidation amounted to -N-9,144 billion as at December 31, 2006.

If you would like to view the summary of recoveries of loans and advances click here