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The Central Bank of Nigeria on Tuesday revoked the operating licenses of at least 132 microfinance banks in the country.   Four primary mortgage banks and three finance companies were also included.   The apex bank said the Microfinance Banks, Finance Companies and Primary Mortgage Banks have ceased to carry on, in Nigeria, the type of business for which their licences were issued for a continuous period of six months, The Nation reports.  

The Central Bank of Nigeria has revoked the licences of 179 microfinance banks in the country, as well as four

May 24, 2023. Azonuchechi Chukwu. The Central Bank of Nigeria’s Governor has announced the revocation of operating licences of 132 Microfinance Bank, 4 Primary Mortgage Banks and 3 Finance Companies. In a publication by CBN on Tuesday, the apex Bank stated thus: The Microfinance Banks, Finance Companies and Primary Mortgage Banks stated in Schedules I, |

132 microfinance banks in the country and four primary mortgage banks and three finance companies have lost their operational licenses.

...As CBN revokes operating licenses of 179 MFB By Onu Okorie Following the revocation of licenses of 179 Microfinance Banks (MFBs) and four Primary Mort