Tuesday, October 26, 2021

    Despite damaged investors perception on Northern Nigeria, Borno State Govt seals defaulting commercial banks over ground rent defaults

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Yakubu Uba

    Maiduguri, Feb. 18, 2021 The Borno Government on Thursday, clamped down on commercial banks operating in Maiduguri that failed to update their documents.

    Naija247news reports that the enforcement team from Borno Geographic Information Service (BOGIS) sealed branches of four commercial banks for defaulting.

    Speaking to newsmen on the exercise, the Executive Secretary of BOGIS, Alhaji Adam Bababe, said the affected banks had been given sufficient notice to perfect their documents and pay outstanding ground rents, but they failed to comply.

    Bababe explained that the banks would remain closed until they did the needful.

    “We are conducting the exercise in segments; we started with filling stations, property of NGOs and now the banks.

    “We want to ensure that they adhere to regulations.

    “Government also need revenue and to update its record in order to have a vibrant database of all structures in Borno,” Bababe said.

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