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MfBs

Fear grips operators as CBN, NDIC begin liquidation of 42 MfBs

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NDIC

Fear has gripped operators of Microfinance Banks (MfBs) in the country, as the Nigeria Deposit Insurance Corporation (NDIC) says it will verify the claims of stakeholders of the 42 MfBs whose licenses were revoked in the latest efforts of the Central Bank of Nigeria (CBN) to delist insolvent operators from the industry. The verification exercise […]

Recapitalisation: CBN extends deadline for MfBs to April 2022

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Emefiele

The Central Bank of Nigeria (CBN) has extended the deadlines issued to Microfinance banks (MfBs) to comply with its revised minimum capital requirements. This was contained in a circular issued to all microfinance banks on April 29, 2020, and signed by the CBN’s Director, Financial Policy and Regulation Department, Kevin Amugo. In the circular, the […]