Took a Loan and There’s a Problem? You Can’t Run to Court Immediately Again 😳

By Adeola Adeleke
Let’s say you collect a loan…

From a bank or lending app 💸

Something goes wrong:

  • They’re pressuring you

  • You disagree on the amount

  • There’s a dispute

Normally…

👉 Next step = Court ⚖️

But now…

👉 That process is about to change 👀

🏦 What just happened?

The Central Bank of Nigeria wants to introduce a new rule:

Before you go to court…
You MUST pass through a mediation panel

🤔 What is this “panel”?

Think of it like:

👉 A middle ground
👉 Where both sides sit down
👉 And try to resolve the issue

Without going to court immediately

😳 So court is no longer the first option?

Exactly.

Now:

Panel first… court later

⏱️ And they are adding time limits

This is the interesting part 👇

  • Disputes should be resolved within 90 days

  • Once a decision is made → you must comply within 30 days

😬 If you don’t comply?

👉 It can still go to court…
👉 But now as enforcement, not fresh argument

💡 What kind of disputes are we talking about?

Mainly:

  • Loan disagreements

  • Collateral issues (e.g. car, equipment used for loan)

  • Lending terms disputes

🧠 Why is CBN doing this?

Simple:

👉 Court cases take too long
👉 Too expensive
👉 Too stressful

So the goal is:

Faster resolution
Less drama
More structure

😅 But let’s be honest…

This also means:

👉 You can’t just “drag bank go court” immediately again

⚠️ And there’s another important part

For this to apply:

👉 Your loan agreement must include this mediation clause

Meaning:

Once you sign… you’ve already agreed to the process

🧠 What this means for YOU

If you take loans:

👉 You need to start reading agreements properly 👀

Because:

  • You’re agreeing to mediation

  • You’re limiting your court options

😳 Combine this with recent rules

Remember:

👉 Loan defaulters are already being restricted
👉 Access to new loans is tighter

Now add this:

👉 Disputes are also being controlled

🔥 Big picture

CBN is doing one thing:

Tightening the entire lending system

From:

  • Giving loans

  • Monitoring loans

  • Handling disputes

🧠 Final thought

Before now…

👉 You could fight loan issues in court directly

Now…

👉 There’s a process you must follow first

So next time you’re about to take a loan…

Don’t just check:

“How much am I getting?”

Also check:

“What happens if something goes wrong?” 😶

Source inspired by recent CBN draft guidelines on loan dispute resolution (2026).

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