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Statement of prudential adjustments December December
In thousands of Naira 2017 2016
Bank Note
Loans & advances:
Specific impairment allowances on loans to customers
• Loans to Individuals 23(b) 402,318 405,200
• Loans to Corporate 23(b) 35,614,441 9,679,116
Collective impairment allowances on loans to customers
• Loans to Individuals 23(b) 645,740 1,039,812
• Loans to Corporates 23(b) 19,626,902 19,151,386
Collective impairment allowances on loans to banks 22 41,506 23,386
Total impairment allowances on loans per IFRS 56,330,907 30,298,900
Total regulatory impairment based on prudential gudielines 91,389,173 65,357,166
Balance, beginning of the year 35,058,266 37,826,382
Additional transfers to regulatory risk reserve - (2,768,116.16)
Balance, end of the year 35,058,266 35,058,266
The Central Bank of Nigeria (CBN) via its cicrular BSD/DIR/GEN/LAB/08/052 issued on 11 November 2015, directed
banks in Nigeria to increase the general provision on performing loans from 1 percent to 2 percent for prudential review
of credit portfolios in order to ensure adequate buffer against unexpected loan losses.
4.1 valuation of financial instruments
The table below analyses financial and non-financial instruments measured at fair value at the end of the financial year, by
the level in the fair value hierarchy into which the fair value measurement is categorised:
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Annual Report & Accounts 2017
