Nile Commercial Bank (NCB) is to sell the assets of clients who took loans and did not pay them back to the finance institution.
Justice Gabriel Moruel is Legal Counsel General and member of NCB resetting up committee.He told SCR News that the bank is going to auction all the property of clients who defaulted and did not pay the money they borrowed from the bank.
Justice Moruel said the follow up committee started with Mamsco Company and will carry on the exercise till the money that was loaned is secured into the bank’s coffers.
He added that the NCB is under liquidity and is unable to give out loans.