Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,135,997 members, 7,753,367 topics. Date: Friday, 01 March 2024 at 09:11 PM

Licensed Microfinance Banks Drop To 898 – CBN - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Licensed Microfinance Banks Drop To 898 – CBN (267 Views)

List Of 47 Microfinance Banks Licences Revoked By CBN / Avoid Loan Sharks, Leverage On Microfinance Banks, Emefiele Tells Nigerians / NDIC Shuts Down 42 Microfinance Banks (2) (3) (4)

(1) (Reply)

Licensed Microfinance Banks Drop To 898 – CBN by BrandSpurNG: 8:37am On Mar 19, 2019
The Central Bank of Nigeria (CBN) has confirmed the licences of 898 Microfinance Banks (MfBs) spread across the 36 states of the country and Federal Capital Territory (FCT).

The number is far less than the 1,028 Microfinance banks confirmed by the apex bank last May after the regulator withdrew the licences of some operators late last year.

The report on approval, posted on CBN website, also showed that the apex bank confirmed the operations of two regional banks, and three banks with Holding Company structures, five merchant banks, one non-interest bank and 19 commercial banks, as at last year.

As part of efforts to enable speedy disbursement of its several intervention funds including the Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS), the CBN has said it will in collaboration with the Bankers’ Committee and the Nigerian Postal Service (NIPOST) start the operation of a National Micro Finance Bank (MFB) this year.

The new MFBs are expected to further enhance financial inclusion and credit to fund the agricultural sector and small and medium scale (SME).

The national MFB would leverage on the existing NIPOST presence in 774 local and aid the CBN and the bankers committee effort in accessing the Anchor borrowers fund, SME fund and other initiatives tailored towards SMEs, farmers and the CBN’s financial inclusion drive.

SOURCE : https://brandspurng.com/2019/03/18/licensed-microfinance-banks-drop-to-898-cbn/

(1) (Reply)

Why You Should Register Your Business / Tax: Nigeria, Others Lose $200bn Per Annum To Unfair Global Corporate Tax System / Warren Buffett's Ten Rules Of Success.

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 11
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.