Nigeria, March 13 -- The Central Bank of Nigeria (CBN) has ordered all lenders to restrict borrowers with non-performing credit, whose activities constitute systemic risk to the financial system, from accessing specified banking services, including obtaining additional credit.

The directive takes effect immediately, according to a letter by the regulator to all banks, issued on Thursday.

"Any large-ticket obligor with a non-performing facility recorded in the CRMS and/or any licensed private credit bureau shall not be granted additional credit facilities. For the purpose of this restriction, credit facilities include loans and other forms of direct credit," the CBN stated.

"In addition, such obligors shall not be granted banking facili...