From Ngozi Onyeakusi, Lagos
The Nigerian Deposit Insurance Corporation (NDIC) has disclosed that the Nigerian deposit money banks are currently exposed to about N398 billion non-performing loans, as at September 2014.
Giving the hint yesterday in Lagos while briefing members of the House Committee on Banking and Currency who were at the NDIC’s office on oversight function, the Managing Director/CEO, NDIC, Alhaji Umaru Ibrahim, stated that the total assets of the deposit money banks currently stood at N30 trillion .
According to him, the total deposits equally stood at N17.116 trillion. He said capacity adequacy ratio as at the period under review stood at 17.5 while average liquidity ratio is 66.6 percent.
The NDIC however noted that the liquidity level of the banks is still healthy but warned that there may be systemic shocks in the future the little snags cropping up in the sector are not checked.
Umaru also said that total loans and advances stood at N15.5 trillion. A breakdown of the loans and advances show that oil and gas still got the most credit with N2.81 trillion representing 24.33 percent.
Manufacturing followed with N1.557 trillion or 13.15 percent. General activities got some N1334 trillion representing 11.27 percent while agriculture got some N415.89 billion or 3.6 percent.
Alhaji Ibrahim also reiterated the 16 deposits money banks with the view to accessing their stress level.
Earlier, Hon. Sir Jones Chukwudi Onyereri, the Chairman of the House Committee on Banking and Currency said they were concerned about the Nigerian Banking industry, and the general performance of NDIC hence the visit.