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CBN: MfBs in 774 local councils coming

CBN: MfBs in 774 local councils coming

The Central Bank of Nigeria (CBN) yesterday said it plans to establish Microfinance Bank (MfBs)  in all the 774 local government areas of the country. Its Governor, Mr. Godwin Emefiele, disclosed yesterday at Gwagwalada, Abuja while on a facility tour of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) MfB, an agribusiness initiative which […] …

NDIC assures 100% payment of depositors in revoked MFBs

NDIC assures 100% payment of depositors in revoked MFBs

The Nigerian Deposit Insurance Commission, NDIC, yesterday said  following the recent revoked licences of 154 MFBs and six PMBs by the Central Bank of Nigeria (CBN) due to their insolvency, from the record obtained so far, majority of the depositors especially in the MFBs, have less than N200,000 in their accounts, implying that the NDIC […] …

MfBs request Lagos State to create special court to address bad loans

‘I Defected To APC Because Of My Friendship With Buhari’ – Orji-Kalu

THE National Association of Microfinance Banks, Lagos State Chapter, NAMBLag, has written to the state government requesting for the creation of a special court to address the challenges of Non Performing Loans, NPL, among the customers who are mainly small businesses.
Continue reading MfBs request Lagos State to create special court to address bad loans at Vanguard News. …

Financial Inclusion: FG reiterates commitment to MFBs

Financial Inclusion: FG reiterates commitment to MFBs

The Federal Government on Friday expressed its commitment towards enhancing the effectiveness of Micro Finance Banks in the country. President Muhammadu Buhari, represented by the Minister of State for Trade and Investment, Mrs Aisha Abubakar, said this at the 2018 Micro Finance Banking Conference/Award Night held in Abuja. The theme of the conference is: “Financial […] …

Enforcement will compel MfBs to embrace collateral registry

Head, Internal Control and Audit, Olive Microfinance Bank Limited, Mr. Agbai Egbu, in this interview said that the Central Bank of Nigeria, CBN must enforce collateral registry on Microfinance Banks, MfBs operating in the country to drive the process, so as to achieve the aim for which it was initiated, while highlighting that the plannedRead More
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