Licences of 46 microfinance banks revoked in Nigeria over breaches
Central Bank of Nigeria (CBN) has revoked the operating licenses of forty-six (46) Microfinance Banks with effect from July 1, 2026, in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020,” the statement read. The CBN said the revocation was approved after the affected institutions […]
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