95% bank debtors borrowed from MFBs in 2024 — CBN The Central Bank of Nigeria (CBN) has revealed that 95.66 percent of bank debtors borrowed from microfinance banks (MFBs) as of September 2024, underscoring the crucial role of MFBs in…
The Central Bank of Nigeria (CBN), says it is partnering with Microfinance Banks (MFBs), to enhance financial inclusion to stimulate growth of Micro, Small and Medium Enterprises (MSMEs) in the country. CBN Controller, Yola Branch, Sah Nyashi said this during…
The Central Bank of Nigeria (CBN), says it is partnering with Microfinance Banks (MFBs), to enhance financial inclusion to stimulate growth of Micro, Small and Medium Enterprises (MSMEs) in the country. Mr Sah Nyashi, CBN Controller, Yola Branch, said this…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has called on Microfinance Banks (MfBs) to submit their monthly returns through the FinA application in a timely manner. In a circular addressed to all MfBs, the CBN expressed concern over…
The Central Bank of Nigeria (CBN, has urged all Microfinance Banks (MfBs) to ensure prompt rendition of statutory monthly returns through FinA application. This is contained in a circular signed by Valentine Ururuka, the Director, Financial Policy and Regulation Department…
Leading banking and development experts are urging the Federal Government to involve Microfinance Banks (MFBs) in the distribution of poverty alleviation funds. These experts believe that by including MFBs, the government can better achieve the objectives of its poverty alleviation…
The Nigeria Deposit Insurance Corporation (NDIC) has revealed that it has paid an insured sum of N1.084bn to 29,573 depositors of MFBs, MPBs. The payment follows the revocation of licenses for 179 Microfinance Banks and 4 Primary Mortgage Banks by…
By Seun Ibiyemi The Nigeria Deposit Insurance Corporation (NDIC) will begin the investigation of the directors and officers of the 183 banks whose licences were revoked earlier this year. The Managing Director of the NDIC, Mr Bello Hassan, said this…
The Nigeria Deposit Insurance Corporation (NDIC) will begin the investigation of the directors and officers of the 183 banks whose licences were revoked earlier this year. The Managing Director of the NDIC, Mr Bello Hassan, said this at a one-day…
The Central Bank of Nigeria has exempted Primary Mortgage Banks and Microfinance Banks that provide banking services to the poor from its cash withdrawal limit. It gave this directive in a circular tagged, ‘PSM/DIR/PUB/CIR/001/049,’ released on Monday to banks and…
