According to the figures released by the CBN on Wednesday in Abuja, N13.56 trillion was recorded as loans after specific provisions.
It added that the gross loans as of the end of 2018 stood at N15.35 trillion as against the gross loans of N15.96 in the banking sector as of the end of 2017.
It explained that N2.36 trillion of the 2017 figure were non-performing loans, while N14.12 trillion were loans after specific provisions.
The report by a local newspaper, The Punch said on Thursday that the Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, recently pledged the full support of AMCON to its Asset Management Partners in the pursuit to recover N740 billion of the total eligible bank assets of AMCON portfolio in the hands of debtors.
According to the report, the AMPs are firms AMCON engaged in 2016 to complement its recovery efforts as part of its renewed strategy to resolve some 6,000 accounts among accounts in its portfolio.
The AMCON boss said the corporation placed equal importance on the ability of the partners to recover the outsourced accounts because their efforts counted towards the achievement of AMCON’s core mandate.