The Nigeria Labour Congress (NLC) has expressed its approval over the Central Bank of Nigeria’s directive, instructing banks to publish names of debtors with immediate effect.
The secretary of the NLC, Peter Eson-Ozo, made this disclosure known on Wednesday, while speaking to the News Agency of Nigeria (NAN).
He said, “I think the banks have done well by publishing the names of debtors because it is not good for anyone to borrow money and not pay back; it endangers the economy.”
The publication of the names of debtors is coming on the heels of the July 31, 2015 deadline set by the apex bank for the debtors to pay up.
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The debtors are to be blacklisted and banned from participating in the foreign exchange market, as well as trading in the Nigerian Government Securities market.