The Central Bank of Nigeria (CBN) has reviewed the minimum capital base of Tier 2 Microfinance Banks (MFBs) across the country to N50m, informing them to recapitalise by April 2021. The apex bank, however, maintained the capital base of Tier 1 for State and National Microfinance Banks earlier issued on October 22, 2018. In … Continue reading CBN Reviews Capitalisation Of Tier 2 Microfinance Banks …
MicroFinance Banks
Senate expresses concerns over new minimum capital for MfBs
THE Senate Committee on Banking, Insurance and Other Financial Institutions has expressed concern over the decision of the Central Bank of Nigeria (CBN) to increase the minimum capital base of microfinance banks.
Continue reading Senate expresses concerns over new minimum capital for MfBs at Vanguard News Nigeria. …
154 MFBs, PMBs to get insured deposit sum
Uche Usim, Benin Soothing news came the way of 154 Microfinance Banks (MFBs) and six Primary Mortgage Banks (PMBs) whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN) as the Nigeria Deposit Insurance Corporation (NDIC) is set to pay them their insured deposit sum. This was as number of licensed Mobile […]
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CBN revokes licences of nine microfinance banks in Niger
Digital currency threat to financial stability – Ibrahim, NDIC boss
According to Ibrahim, the proliferation of digital currency like Bitcoin has led to the partial disintermediation of the banking system. Omodele Adigun Since the advent of digital currency, traditional banking institutions have not remained the same again. In fact, “the fabric of the global financial stability is constantly being threatened”, says Umar Ibrahim, the Managing Director/Chief […]
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