Non-Performing Loans on the Rise Due to Economic Pressures, Group Warns
According to the Business Recovery and Insolvency Practitioners Association of Nigeria, the country's high cost of doing business and the competition from foreign companies are the main causes of non-performing loans. Speaking on the sidelines of a press briefing on Friday to announce its annual insolvency law conference 2025, which is set for September 25 and 26 in Lagos, Mr. Albert Folorunsho, the first Vice President and Co-Chair, Conference Planning Committee, BRIPAN, added that a lack of working capital is another factor contributing to the rise in non-performing loans (NPLs) in Nigeria.