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Microfinance Banks

CBN Warns Microfinance Banks Against FOREX Transactions

The Central Bank of Nigeria (CBN) has issued a strong warning to microfinance banks in the country, to stop engaging in foreign exchange transactions and other unauthorised dealings. In a circular titled "Cessation of Non-Permissible…

CBN Shuts Down 42 Microfinance Banks (See Full List)

The Central Bank of Nigeria (CBN) has revoked the operating licences of 42 microfinance banks in the country. The report was made public on Friday in a statement titled "Notice of closure of 42 microfinance banks", by the Nigeria Deposit…

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