Browsing Tag
CBN
67 posts
Analyst Highlights Regulatory Risks Following CBN License Withdrawal for 46 Microfinance Banks
The CBN has revoked the licenses of 46 microfinance banks for failing to meet regulatory standards, a move experts warn could lead to financial instability for local small business owners.
Nigerian Naira Gains Value Against Dollar
The Nigerian Naira strengthened against the dollar in both the official and parallel markets, although trading volume at the NFEM dropped significantly.
NDIC Appointed Liquidator for 46 Failed Microfinance Banks
Following the revocation of licenses for 46 microfinance banks by the CBN, the NDIC has stepped in to manage their liquidation and warned the public against illegal transactions with these failed institutions.
Presidency exposes fraudulent account setup by fake government official
The Presidency reports that Prince Adeniyi Adeyemi Matthew used forged documents to create a fraudulent CBN account while masquerading as the head of a non-existent government agency.
Central Bank of Nigeria cancels licenses of 46 microfinance banks
The Central Bank of Nigeria has revoked the licenses of 46 microfinance banks effective July 1 due to their failure to meet required regulatory standards and operational obligations.
Central Bank of Nigeria Withdraws Licences of 46 Microfinance Banks
The Central Bank of Nigeria has officially revoked the operational licences of 46 microfinance banks due to their failure to meet mandatory regulatory and financial requirements.
Central Bank of Nigeria Withdraws Operating Permits for 46 Microfinance Banks
The Central Bank of Nigeria has stripped 46 microfinance banks of their licenses for failing to meet regulatory obligations, including capital requirements and operational mandates.
Naira Value Slips Against Dollar in Both Parallel and Official Markets
The Naira weakened in both the parallel and official markets as the exchange rate margin widened, despite a significant rise in interbank trading volume.
Naira Slips Further Against Dollar as New Week Begins on June 29, 2026
The Nigerian Naira experienced further decline in the official market on June 29, 2026, while remaining stable within the parallel market.
Muhammadu Sanusi II criticizes National Assembly for neglecting CBN borrowing oversight
Emir of Kano Muhammadu Sanusi II blames the National Assembly for failing to stop the federal government from violating legal borrowing limits set for the Central Bank of Nigeria.