Directors and key management personnel of Deposit Money Banks borrowed about N549billion from their financial institutions in five years. This is according to analysis of the banks’ annual reports filed with the Nigerian Stock Exchange Limited between 2019 and 2023. However, the banks’ loans and advances to some directors and key management personnel as well as related party transactions dropped significantly in 2023. These transactions dropped to N52.40bn for eight financial institutions, when compared to N111.31bn in 2022, indicating a 52.92 percent decline in one year. This decline came amid…
Read MoreBank chiefs obtain N549bn insider loans in five years
