Tag
MICROFINANCE BANKS
The Central Bank of Nigeria (CBN) has issued a fresh directive mandating all participants in the country’s payment ecosystem to complete migration to the ISO 20022 messaging standard and implement mandatory geo-tagging of payment terminals by October 31, 2025.
In today’s rapidly evolving business landscape, Microfinance Banks (MFBs), Fintechs, and Other Financial Institutions (OFIs) face challenges that hinder their ability to drive financial inclusion and economic growth.
At least five microfinance banks (MFBs) in Nigeria’s southeast were shut down in September 2023 due to insecurity...
The Central Bank of Nigeria has mandated Microfinance banks, Primary Mortgage Banks (PMBs) and Development Financial Institutions (DFIs) to ensure they submit their financial returns monthly through the FinA application or risk sanctions.
Loans by Microfinance banks surged to N1.12 trillion as of the end of June 2022, representing a 115.7% increase compared to N521.25 billion recorded as of the end of 2021.
The Central Bank of Nigeria has advised microfinance institutions against engaging in certain prohibited activities, including wholesale banking...
The latest drop is the first slow down recorded this year and since we started tracking the data.
NDIC is officially closing 42 MFBs whose operating licenses had earlier been revoked by CBN.
CBN released an exposure draft guideline for the regulation and supervision of microfinance banks in Nigeria following a review of the 2012 guidelines.
Microfinance Banks have received new revised supervisory and regulatory guidelines from the Central Bank of Nigeria
@cenbank has issued a directive to the public to beware of people who send fraudulent messages under the guise of loan givers for small scale businesses.
The CBN has warned the Microfinance Banks (MfBs) operating in Nigeria against hawking and hoarding of lower currencies.