Microfinance Banks Archives

The Central Bank of Nigeria (CBN) has issued a fresh directive mandating all participants in the country’s payment ecosystem to ...

TechConnect 4.0: Championing innovation, inclusion and collaboration for Africa’s Financial Future

by Op-Ed Contributor

December 27, 2024

In today’s rapidly evolving business landscape, Microfinance Banks (MFBs), Fintechs, and Other Financial Institutions (OFIs) face challenges that hinder their ...

Insecurity forces closure of five microfinance banks in the southeast in September 2023 – NDIC

by Sami Tunji

September 27, 2024

At least five microfinance banks (MFBs) in Nigeria’s southeast were shut down in September 2023 due to insecurity in the ...

CBN stops outbound IMTO transactions, also limits inflow payouts to Naira

CBN mandates microfinance, mortgage banks and DFIs to submit financial returns monthly or risk sanctions

by Aghogho Udi

March 7, 2024

The Central Bank of Nigeria has mandated Microfinance banks, Primary Mortgage Banks (PMBs) and Development Financial Institutions (DFIs) to ensure ...

CBN forex restrictions on food itemsCBN approves new cheque standard for banks, Banks complex documentation makes it harder to access foreign exchange for Nigerians

Microfinance banks’ loan to Nigerian private sector hits N1.12 trillion in June 2022

by Samuel Oyekanmi

August 4, 2022

Loans by Microfinance banks surged to N1.12 trillion as of the end of June 2022, representing a 115.7% increase compared ...

Bank customers with CBN rise to 57 million in April 2023

CBN cautions microfinance banks against forex transactions and wholesale banking

by Ubah Jeremiah Ifeanyi

August 21, 2021

The Central Bank of Nigeria has advised microfinance institutions against engaging in certain prohibited activities, including wholesale banking and foreign ...

Microfinance Banks record slow-down in loan growth

by Analysts Nairametrics

August 12, 2021

The latest drop is the first slow down recorded this year and since we started tracking the data.

154 failed banks: Insurance corporation commences payment to depositors , NDIC settles over 500,000 failed banks, MFB depositors, Defunct Savannah Bank not yet liquidated – NDIC clarifies , NDIC to use AI, digital technology to tackle emerging threats to banks , NDIC extends insurance coverage to mobile money subscribers, FG moves to capture 80% of Nigerians in formal financial services sector

NDIC set to liquidate 42 Microfinance Banks

by Johnson Uche

December 20, 2020

NDIC is officially closing 42 MFBs whose operating licenses had earlier been revoked by CBN.

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

Repositioning Microfinance banks to grow economy

by CSL Stockbrokers

March 6, 2020

CBN released an exposure draft guideline for the regulation and supervision of microfinance banks in Nigeria following a review of ...

CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies

CBN releases new capital base, sanctions for Microfinance Banks in new draft guidelines

by Fakoyejo Olalekan

March 5, 2020

Microfinance Banks have received new revised supervisory and regulatory guidelines from the Central Bank of Nigeria

Tag: Microfinance Banks

CBN sets October 31 deadline for Payment companies to comply with ISO 20022