Browsing Tag
Microfinance Banks
5 posts
NDIC Begins Reimbursements for Customers of 46 Closed Microfinance Banks
The NDIC has commenced payouts to depositors of 46 microfinance banks following their license revocation by the CBN, utilizing automated payment systems to expedite the process.
Depositors face partial recovery as CBN shuts 46 microfinance banks
Bank Customers’ Association of Nigeria President Dr. Uju Ogunbunka warns that the revocation of 46 microfinance bank licenses will cause widespread financial hardship, incomplete deposit recovery, and a potential decline in national financial inclusion.
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.
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.