ABSTRACT
The frequent and incessant bank distress in recent time in Nigeria makes it indispensable to understand what is meant by ‘Debt’ generally in the banking sector before analysing the bad aspect of it. Denotatively, debt is a payment which must be paid but has not yet been paid. In a simple definition
DEBT
is an obligation owned by a person called debtor to another person called creditor demands payment as specified future date. Therefore debt management is the process of and granting loan from initial till payment is made by strict adherence to lending policies.