“We Decided To Clean House Properly” — Otedola Attributes First HoldCo’s 92% Profit Decline To Deliberate N748bn One-Off Impairment On Legacy Bad Loans

“Why do this now? Because the CBN is pushing banks to stop kicking problems down the road. So First HoldCo basically closed the chapter on messy loans from past years which sends a clear message that borrowing has consequences and it helps rebuild trust,” he said.

 

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“We Decided To Clean House Properly” — Otedola Attributes First HoldCo’s 92% Profit Decline To Deliberate N748bn One-Off Impairment On Legacy Bad Loans

 

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