UPDATE 1-Nigeria graft police sets new bank debtor deadline

(Adds details, background)

ABUJA, Nov 23 (Reuters) - Nigeria's anti-corruption police on Monday gave defaulting debtors of nine bailed-out banks two weeks to organise repayments or risk arrest, prosecution and the seizure of their assets.

Nigeria has injected about 600 billion naira ($4 billion) into the banking system since mid-August after an audit found nine institutions were facing a grave liquidity crisis.

Total non-performing loans at the troubled banks topped 1.5 trillion naira, of which only a fraction has been recovered.

"We wish to warn those that have reneged on the repayment terms not to be taken by surprise at the end of the latest two weeks grace when the commission shall again move decisively against defaulters," said Femi Babafemi, spokesman for the Economic and Financial Crimes Commission (EFCC).

In the weeks after the bailouts, the central bank listed more than 800 firms, individuals and state bodies which it said had large non-performing loans with the nine banks, which include Intercontinental Bank INBK.LG, Oceanic Bank OCBK.LG and Wema Bank WEMA.LG

Those listed read like a Who's Who of Nigeria's business elite, although several of the accused debtors challenged the central bank's assertion that their facilities were non-performing.

The EFCC had previously given some debtors only a week to pay up, but has since conceded more time and few have been prosecuted.

"It is worrisome that those that made part payments with a promise to pay up within a certain period following the intervention of the EFCC have failed on their terms," Babafemi said. (Reporting by Randy Fabi; Editing by Nick Tattersall) ((randolph.fabi@thomsonreuters.com; Abuja Newsroom + 234 9 461 3214, Reuters Messaging: randolph.fabi.thomsonreuters.com))