Nigeria’s EFCC warns banks against issuing unsecured loans

On 2026-04-13, Nigeria’s EFCC warned banks against granting unsecured loans and said lending backed only by personal guarantees should be discouraged. The warning was delivered during a courtesy visit by First Bank of Nigeria officials to the EFCC Lagos Zonal Directorate 2 office in Ikoyi. The commission cited insider abuse and threats to financial stability.