By Babajide Komolafe
Banks’ debtors have devised new tactics to avoid repayment, a development generating concerns in the industry.

One  of the major worries in the industry now is “rather than debtors engage their  creditor banks and negotiate their responsibilities, they have resorted to  deploying the mischievous tactic of using the media, both print and electronic,  to embarrass and impugn the reputation of banks.

Investigations have revealed an emerging trend of bank debtors refusing to pay  their debts and instead engage the banks in campaign of calumny, using the  instrumentality of the media organs”, said a top banker who pleaded anonymity.

This development, it was gathered,  has led some of the banks to cut down their exposure to customers described as high profile individual businessmen and women.

These high networth debtors, according to industry sources are deploying the approach in  the belief that ‘causing the banks and their principal officers public  embarrassment would keep the banks at bay’ and offer some succour to them  (debtors) when demands for fulfillment of the debts are made.

“It is  unfortunate that there are willing collaborators in the media – mainstream, soft and new media’ ready and eager to aid this ugly and unfortunate development at this time in our banking reform programme,”  a banker said.

Shareholders, legal and financial experts have deplored these  evasive tactics saying it is a deliberate attempt to undermine the intermediation role of banks.

Boniface Okezie, National Coordinator of the Progressive Shareholders Association of Nigeria (PSAN),  said banks should not be bothered by whatever antics that are employed by the debtors and ensure that all debts are recovered to reposition and strengthen the financial institutions.

“Besides using the media, the same individuals go to the court to get injunction  to avoid their arrest or to stop the bank from taking any further action.

The  public should know who the enemies of the banking system are, whenever they (the debtors) put up the deceptive advertisements in the newspapers. When the banks lend money to individuals and they pay back, the same money is given to other  people.

That is how banks contribute to the growth of the economy and also make  money for their owners,” he added.

Commenting on the legal implication of this development, the Lead Director of Abuja-based  Centre for Social Justice,  Eze Onyekpere,  said it is true that banking is done in confidence but the CBN employed the “shame element” last year when it publicized the transactions in the papers, and that was to make the debtors pay.

He said, “ If somebody is owing any bank, he has to pay. The media can’t be used  to cover up the debt. When we might want to follow up with the debtor in the media is if for instance the bank was mischievous in the transaction, for instance, if the customer was given the money and a part of it was taken. You  know some of these debts can be given under incredible conditions.”