THE PROSPECTS AND TRAVAILS OF BANK LOAN REPAYMENTS: EMERGING TRENDS AND CHALLENGES IN THE NIGERIAN BANKING INDUSTRY

Abstract

Abstract
Bank lending in every country of the world has almost become inevitable for the growth of
the economy and the sustained stimulation of capital flight whether in a developed or
developing economy. The banks and affiliated financial institutions have glaringly held
forth in this area not only in Nigeria but is indeed an economic conventional global
practice. Perennial challenges that have constantly bedeviled this practice of lending is
the ugly incidences of huge debt profiles that are left either unpaid or not paid as at
when due. This has in some cases, led to the painful collapse of some of these financial
institutions and the economy in general like in Nigeria presently. This study has taken a
doctrinal and intellectual exposition of many of these challenges, vis-à-vis a holistic
examination of some of the legal frameworks establishing these institutions, and a
careful review of the operational methodology of the legal system in general. The scope of
this research is partly limited to the various ways some loans or lendings could be
assessed against the background of some of the legal and operational handicaps that
often go along with such practices and the travails of repayments. Researched findings
and accompanying recommendations in view of the challenges identified are equally
provided for in this work