CBN Revokes licences Of 132 Microfinance Banks

CBN Revokes licences Of 132 Microfinance Banks

The Central Bank of Nigeria  (CBN), on Tuesday, revoked the operating licenses of 132 microfinance banks and those of four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was...
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NDIC Begins Verification Of Depositors In Three Failed Micro-Finance Banks

NDIC Begins Verification Of Depositors In Three Failed Micro-Finance Banks

The Nigeria Deposit Insurance Corporation (NDIC) is to commence the claims verification of depositors of the three Micro-finance Banks (MFBs) whose licences were revoked by the Central Bank of Nigeria (CBN).  The NDIC said on Thursday in its official Twit...
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CBN Unveils Non-Interest Guidelines For AGSMEIS, MSMEDF, Others

CBN Unveils Non-Interest Guidelines For AGSMEIS, MSMEDF, Others

The Central Bank of Nigeria (CBN) has unveiled guidelines for Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) and Micro, Small and Medium Enterprises Development Fund (MSMEDF). In  ...
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Akinwuntan: Ecobank Xpress Save And Xpress Loan Is Designed To Stimulate Micro Savings In The economy

Akinwuntan: Ecobank Xpress Save And Xpress Loan Is Designed To Stimulate Micro Savings In The economy

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan  said the Ecobank Xpress Save and Xpress Loan is a digital product designed to stimulate micro savings in the economy.  According to the bank Managing Director, this innovative product is par...
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DBN Holds Workshop For Executives Of Microfinance Banks

DBN Holds Workshop For Executives Of Microfinance Banks

The Development Bank of Nigeria as part of its advocacy initiative has held a capacity-building programmeon Environmental & Social Risk Management practice for top executives of Microfinance Banks recently in Lagos.  Giving his opening remarks, the Ma...
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Nigeria Projects Microfinance Banks For 774 Councils

Nigeria Projects Microfinance Banks For 774 Councils

Nigeria is to establish Microfinance Bank (MfBs)  in all the 774 local government areas of the country. Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, disclosed the development on Wednesday in Abuja while on a facility tour...
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National Microfinance Bank Takes off Next Month With N5b Capital Base

National Microfinance Bank Takes off Next Month With N5b Capital Base

Barring last minute adjustment, National Microfinance Bank  will begin operations in January  2019  as part of measure to ensure more credits flow to the grassroots.   According to the Governor, Central Bank of Nigeria (CBN), Godwin Emefiel...
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Citibank grants N500m loan for microfinance development in Nigeria

Citibank grants N500m loan for microfinance development in Nigeria

Citibank Nigeria has extended a loan of N500 million to Accion Microfinance Bank (Accion MFB) in Nigeria to drive and promote the development of the microfinance sector in Nigeria.   This loan will fund Accion’s loan portfolio and support the...
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