Microfinance Banks

Business

Cardoso defends crackdown on microfinance banks, gives reason for scarcity of lower naira notes

Segun Adeyemi, THEWILL -
The Central Bank of Nigeria says its decision to revoke the licences of 46 microfinance banks was aimed at protecting depositors and strengthening regulatory compliance across the financial sector. Governor Olayemi Cardoso also assured customers those banks yet...
Business

CBN’s Microfinance Crackdown: What 46 Licence Revocations Mean for Financial Inclusion

Ogochukwu Onwaeze, THEWILL -
July 19, (THEWILL) — The Central Bank of Nigeria's decision to revoke the licences of 46 microfinance banks represents more than another round of regulatory enforcement. It signals a structural shift within Nigeria's financial system, where smaller community lenders...
Editorial

THEWILL EDITORIAL: CBN’s Crackdown on Microfinance Banks

THEWILL -
July 13, (THEWILL) — The Central Bank of Nigeria recently revoked the operating licences of 46 microfinance banks following the banks’ failure to meet the regulatory requirements for continued operation as approved financial institutions. The sanctioned banks’ inadequacies included insufficient...
News

Oyo Govt Signs N1bn MoU With MFBs

THEWILL. -
January 07, (THEWILL) - The Oyo state government on has signed a Memorandum of Understanding with the participating microfinance banks as part of efforts to ensure a hitch-free disbursement of the N1 billion single-digit loan to farmers. The disbursement was...
Business

N500bn Palliative: Task Before NDIC Over Microfinance Banks’ Role

Sam Diala, THEWILL -
The plan by the Federal Government to engage the microfinance banks (Mfbs) in the implementation of its N500 billion palliative programme, brings to the fore the need for the Nigeria Deposit Insurance Corporation (NDIC) to step up its statutory...
News

Police Arrest 4 Microfinance Officials Over Debtor’s Wife’s Death

Segun Ayinde, THEWILL -
May 14, (THEWILL) - Police in Ogun state have arrested four staff of ZEFA Microfinance Bank for allegedly killing 50-year-old Vivian Omo, at Abule Ijoko, Lemode, in Ifo Local Government Area of the State. The suspects are Badmus Olalekan, Ajibade...
Business

Banking System Best Option to Safeguard Your Money – NDIC to Nigerians

Anthony Awunor, THEWILL -
The Nigeria Deposit Insurance Corporation (NDIC) has urged the banking public that the safest place to keep their money is the formal banking system. This is because the NDIC protects their bank deposits. The Managing NDIC, Mr Bello Hassan...
Business

NDIC Publishes Final Dividend Declaration Call To Depositors, Creditors

Aina Ojonugwa, THEWILL -
September 02, (THEWILL) – The Nigeria Deposit Insurance Corporation (NDIC) has published a final dividend declaration notice to depositors of 20 failed banks. The NDIC also published a final dividend declaration notice to creditors of five banks in-liquidation. The notice published on...
Business

CBN Liquidates 42 Microfinance Banks

Anthony Okechukwu, THEWILL -
BEVERLY HILLS, December 20, (THEWILL) - The Central Bank of Nigeria (CBN) has revoked the licenses of 42 microfinance banks in the country and has subsequently closed them. The Nigeria Deposit Insurance Corporation (NDIC) while disclosing this in a statement yesterday...
- Advertisement -spot_img

Latest News

NewsFelix Ifijeh, THEWILL -

Ikire Killings: Police, Residents Trade Blame As Two Die, Officers Injured In Osun

The violence erupted on Monday at the Naira and Kobo area of Ikire, Irewole Local Government Area, along the Ibadan-Ife Expressway, amid an alleged struggle for control of the motor park. While the Osun State Police Command described the incident as an armed attack on its patrol team by suspected political thugs, residents and political actors in the community have accused the police, particularly the Divisional Police Officer (DPO), of involvement in the shooting.
- Advertisement -spot_img