The Nigeria Deposit Insurance Corporation (NDIC) has developed a Single Customer View (SCV) platform to be deployed to Microfinance Banks (MFBs), to eliminate delays experienced in reimbursing depositors in the event of bank failure. Mr Bashir Nuhu, the Director, Communication…
By Kayode Tokede The Central Bank of Nigeria (CBN) has threatened to sanction Microfinance Banks (MfBs) going beyond the mandate of their operating licence to engage in foreign exchange transactions. The regulator said some microfinance banks have engaged in wholesale…
By Kayode Tokede The National Bureau of Statistics (NBS) has disclosed that Microfinance Banks (MfBs) recorded an 82per cent boost in lending rising from N300.2 billion in 2019 to N546.6 billion in 2020. As of 2018 total microfinance loans to the…
