Tag: Collateral
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Stop using forex as collateral for Naira loans, CBN warns bank customers
The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for Naira loans. Acting Director, Banking Supervision Department of the CBN, Adetona Adedeji, gave the warning in a statement on Monday, in Abuja.
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Debt collectors seize woman’s baby as collateral
A pair of Russian debt collectors are accused of taking a woman’s baby as collateral after she failed to pay back a loan, state media reported on Monday. The female debt collectors allegedly abducted the 10-month-old girl on Sunday while demanding money at the mother’s home in a suburb of Russia’s second-largest city, St Petersburg.…