Barely two weeks ago the Central Bank of Nigeria (CBN) hit its hammer by revoking the operating licences of about 132 Microfinance Banks (MfBs), four Primary Mortgage Banks and three Finance Companies across the country for the failure to meet…
According to the list of CBN licensed MfBs as at 30th June, 2021, there are 876 of them operating in the 36 states and Abuja. It was disclosed also that over 500 licensed Microfinance Banks (MfBs) under the aegis of…
Loans by Microfinance banks surged to N1.12 trillion as of the end of June 2022, representing a 115.7% increase compared to N521.25 billion recorded as of the end of 2021. This means that microfinance banks issued an aggregate of N602.8…
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), on Tuesday in Abuja, signed a Memorandum of Agreement with 15 Micro Finance Banks for the implementation of the One Local Government, One Product (OLOP) programme. OLOP is SMEDAN’s flagship programme…
By Matthew Denis, Abuja The President Muhammadu Buhari-led government in a bid to reduce the unemployment rate and to improve the standard of living has taken cognizance of the people at the base of the pyramid or grassroots through various…
