NPF Microfinance Bank, formerly Nigerian Police Force Microfinance Bank is considering using police men to arrest loan defaulters.
According to a report from the Guardian, the chairman of Chairman of the Customer Forum, Kehinde Yusuf, while giving assurance that customers will not default in loan repayments to the Bank, however urged, “the Management to assist in using Policemen in various Police Headquarters in their domain to recover money from the loan defaulters.”
NPF Microfinance Bank has been profitable over the years and currently trades at a PE ratio of 3.68x.
Table from Bloomberg
Ugo Obi-chukwu “Ugodre” is a chartered accountant with over 16 years experience in financial management, corporate finance and financial analysis. He is also a retail investor and a personal finance advocate with over a decade experience investing in the Nigerian stock market. Ugo is the founder of Nairametrics and blogs regularly on the website.