CBN Provisioning Guidelines: Why Loan Apps Will Always Offer You a Discount After You Default

Consequently, MFBs shall make provisions for credits as specified below: i. General Provision - 2 per cent of the outstanding balance of performing facilities or as may be advised by the CBN from time to time. ii. Specific provisions shall be applied as follows: aa. For facilities classified as, Pass and watch, Sub-Standard, Doubtful, or Lost, interest overdue by more than 60 days shall