Ebenezer Onyeagwu, the new group managing director of Zenith Bank, says banks are planning on a mechanism that will allow them to recover customer loans from deposits made in other banks.
The capability that will enable us to enforce very effective and tight credit control such that if a customer takes a loan from bank A and abandon and go to bank B to open an account, with the BVN, such customer can be traced. “If the customer is owing bank A, N1 million and goes to bank B to open an account and deposits N2 million, electronically the system will recover the money from the debtor. “We believe this will help drive decent behaviour and promote good credit process.”
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