• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Recapitalisation: CBN extends deadline for microfinance banks

Chike Olisah by Chike Olisah
April 30, 2020
in Business News, Socio Economic
Banks' stakeholders express 4 main concerns bothering the sector right now, CBN, MARKET UPDATE: CBN’s historic agriculture lending; Is it yielding the desired results? 

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN).

Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria (CBN) has extended the deadlines issued to Microfinance banks  (MFB) to comply with its revised minimum capital requirements.

This was contained in a circular issued to all microfinance banks on April 29, 2020, and signed by the CBN’s Director, Financial Policy and Regulation Department, Kevin Amugo.

In the circular, the apex bank said:

RelatedStories

Naira , dollar, exchange rate

Exchange rate disparity returns as Naira appreciates to N1,545/$ officially, depreciates to N1,605/$ on parallel market 

June 21, 2025
Ugodre Obi-Chukwu named EY Entrepreneur (emerging category) of the year 2023

Banking sector sell-offs present buying opportunity — Nairametrics CEO, Ugodre Obi-Chukwu 

June 19, 2025

“The Central Bank of Nigeria in consideration of the impact of the coronavirus (COVID-19) pandemic on economic activities has revised the deadlines for compliance with the minimum capital requirements for Microfinance Banks (MFBS) in Nigeria.”

Consequently, the CBN has extended the deadline as follows:

• MFBs operating in rural, unbanked and underbanked areas (Tier 2) shall meet the N35 million capital threshold by April 2021 and N50 million by April 2022.

(READ MORE: CBN restarts dollar sales to SMEs, students, PTA)

• MFBs operating in urban and high density banked areas (Tier 1) are expected to meet the N100 million capital threshold by April 2021 and N200 million by April 2022.

• State MFBs shall increase their capital to N500 million by April 2021 and N1 billion by April 2022.

• National MFBs are expected to meet the minimum capital of N3.5 by April 2021 and N5 billion by April 2022.

The CBN had in March 2019, reviewed the minimum capital requirement for microfinance banks, with a view to ensuring continued operations of these banks in rural, unbanked and underbanked areas of the economy.


Follow us for Breaking News and Market Intelligence.
Tags: CBNminimum capital requirements for microfinance banks (MFBs)
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

Naira , dollar, exchange rate
Currencies

Exchange rate disparity returns as Naira appreciates to N1,545/$ officially, depreciates to N1,605/$ on parallel market 

June 21, 2025
Ugodre Obi-Chukwu named EY Entrepreneur (emerging category) of the year 2023
Financial Services

Banking sector sell-offs present buying opportunity — Nairametrics CEO, Ugodre Obi-Chukwu 

June 19, 2025
Wema Bank, Custodian Investment exits NGX 30 index
Financial Services

Agusto & Co upgrades Wema Bank rating to A- amid stronger financial performance 

June 19, 2025
CBN, forex
Bank Recapitalization

CBN says forbearance-affected banks under close supervision 

June 18, 2025
CBN, forex
Financial Services

No recapitalisation deadline extension for BDCs, CBN says 

June 11, 2025
CBN, forex
Financial Services

Private sector credit rises to N77.9 trillion in April 2025 

May 30, 2025
Next Post
Exchange rate depreciates at NAFEX window as forex liquidity drops further by 57%, Central Bank Continues intervention in Forex market to stabilize Naira, Naira to depreciate slightly over $1.52 billion maturing contracts expires, Naira hits N388.84 to $1 at the currency spot market, Investors and Exporters (I&E) window, Naira weakens against the dollar by 1.14% amidst uncertainty, Naira gains against the dollar at I&E window, forex liquidity up by 242%  

Naira hits N388.84 against dollar at the spot market

Comments 1

  1. Hauwa talatu Abdullahi says:
    May 1, 2020 at 12:56 pm

    Hello my name is Hauwa talatu Abdullahi I will appreciate to work with you i heads about you on the media you people are great and wonderful

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • SBM report flags gaps in Bosun Tijani’s handling of Nigeria’s telecom sector  
  • MRS hikes petrol price to N925 in Lagos, N955 in Southeast amid global oil price increase 
  • Sovereign Trust Insurance names Abimbola Oguntunde as Board Chairman, highlights industry experience 

Follow us on social media:

Recent News

An open letter to Honourable Minister of Communications, Innovation and Digital Economy, Bosun Tijani

SBM report flags gaps in Bosun Tijani’s handling of Nigeria’s telecom sector  

June 22, 2025
MRS slashes pump price to N935 per litre after partnership with Dangote refinery

MRS hikes petrol price to N925 in Lagos, N955 in Southeast amid global oil price increase 

June 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics