Investigations so far have also revealed that some of the assets were not registered in the names of the specific financial institutions but in the names of related or connected parties, making it difficult to dispose of the underlying collateral to offset the outstanding loans. Some of these loans were even fictitiously created and the directors are being pursued to recover such monies.
The Second issue has to do with the high NPLs which is of serious concern and needs to be tackled with urgency.