{"id":20826,"date":"2018-01-25T16:39:53","date_gmt":"2018-01-25T15:39:53","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=20826"},"modified":"2018-01-25T16:39:53","modified_gmt":"2018-01-25T15:39:53","slug":"boi-gets-approval-recover-nerfunds-n17-5-bn-bad-loans","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/boi-gets-approval-recover-nerfunds-n17-5-bn-bad-loans\/","title":{"rendered":"BoI Gets Approval To Recover NERFUND\u2019s N17.5 bn Bad Loans"},"content":{"rendered":"<p>The Federal Government has given approval to the Bank of Industry to recover the N17.5 billion outstanding loans being owed by customers of the Nigeria Economic Reconstruction Fund. NERFUND is currently having liquidity challenges owing to its huge non-performing loans portfolio.<\/p>\n<p>The instrument of approval was given through a Memorandum of Understanding signed on Wednesday in Abuja between the Ministry of Finance led by its Permanent Secretary, Mahmoud Dutse, and the BoI led by the Managing Director, Mr. Olukayode Pitan.<\/p>\n<p>Also present at the signing of the MoU, which was held at the headquarters of the Ministry of Finance in Abuja were top officials of the bank and the ministry. Speaking in an interview with journalists shortly after the event, Pitan said the bank would adopt all legal means available to recover the bad loans for the government.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p style=\"font-weight: 400\"><b><strong><em>Photo Caption: BOI\u00a0Managing Director, Olukayode Pitan<\/em><\/strong><\/b><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Federal Government has given approval to the Bank of Industry to recover the N17.5 billion outstanding loans being owed by customers of the Nigeria Economic Reconstruction Fund. NERFUND is currently having liquidity challenges owing to its huge non-performing loans portfolio. The instrument of approval was given through a Memorandum of Understanding signed on Wednesday &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":20827,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[2053],"coauthors":[2391],"class_list":["post-20826","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-nerfund"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BoI Gets Approval To Recover NERFUND\u2019s N17.5 bn Bad Loans - National Wire<\/title>\n<meta name=\"description\" content=\"The Federal Government has given approval to the Bank of Industry to recover the N17.5 billion outstanding loans being owed\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/boi-gets-approval-recover-nerfunds-n17-5-bn-bad-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoI Gets Approval To Recover NERFUND\u2019s N17.5 bn Bad Loans - 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