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CBN relaxes implementation of rules on bad loans
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CBN relaxes implementation of rules on bad loans

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The Central Bank of Nigeria has relaxed its implementation of rules on bad loans.

Commercial banks now have four years to absorb impairments arising from the implementation of IFRS 9 accounting standards , thereby easing fears that an immediate transition would have severe repercussions for banks’ capital adequacy ratios.

The apex bank plans to introduce new capital rules in the second quarter.

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