News

Court orders immediate reopening of Taraba Microfinance Bank,branches

Ihesiulo Grace 16 January 2020 0

The Federal High Court, Jalingo Division has ordered the Taraba Police Command to immediately reopen all the branches of Taraba Microfinance Bank Ltd., pending the hearing and determination of the suite before the court. The Police has sealed the bank and all its branches three weeks ago

Business

Amending NDIC act will enhance depositors’ confidence – Ibrahim

Ihesiulo Grace 22 October 2019 0

The Managing Director of the Nigeria Deposit Insurance Corporations (NDIC), Umaru Ibrahim says there is an urgent need for the Corporation’s Act to be amended better functioning. Ibrahim said amending the act will further promote depositors confidence in different Deposit Money Banks (DMBs), as well as Microfinance Banks (MFBs). The managing director stated this while […]

Business

ABCON backs CBN’s Clean Note Policy, Banknote Fitness Guidelines

Ihesiulo Grace 30 April 2019

Motolani Oseni The Association of Bureaux De Change Operators of Nigeria (ABCON) has given its support to the Central Bank of Nigeria (CBN) Clean Note Policy and Banknote Fitness Guidelines meant to remove dirty, mutilated and unfit Naira notes in circulation from the financial system. Speaking yesterday to financial journalists in Lagos, ABCON President, Alhaji […]

Business Nigeria

Why CBN may increase MFBs capital base

Ihesiulo Grace 27 February 2018 0

…Still under discussion- Valentine Whensu As part of efforts to further promote financial inclusion, while ensuring the financial system is robust, the Central Bank of Nigeria (CBN) is currently considering increasing capital base for Microfinance Banks (MFBs). Responding to questions posted yesterday during ‘CBN Tweet Meet 2018’ with the theme, ‘#GrowthNG Building

News

FG craves extension of BVN to MFBs

Ihesiulo Grace 14 March 2017 0

Kemi Adeosun, minister of finance, has urged the Central Bank of Nigeria (CBN) to extend bank verification number (BVN) requirement to account holders in microfinance banks. She said this would facilitate the detection of bank accounts which might have been opened and operated by ghost workers and other syndicates. Salisu Dambatta, director of information in […]