Nigeria, June 14 -- The Central Bank of Nigeria (CBN) says it is unaware of crude debt recovery methods adopted by some microfinance banks.

It, however, said it is taking steps to 'curb the use of inhumane and unethical debt recovery practices."

In response to an earlier enquiry on its position over the reported cases of harassment of debtors by some microfinance institutions, the Central Bank of Nigeria (CBN) has distanced itself from the allegations.

In a mail sent to PREMIUM TIMES on Monday, the CBN said it is not aware of the practices and never approved of the unethical and embarrassing methods deployed by the said banks to recover debts from their customers.

The mail was signed on behalf of the Director of the Consumer Protectio...