The Central Bank of Nigeria has said most of the microfinance banks in the country are in sound health and that their performance is generally satisfactory. While noting that the microfinance sub-sector was being effectively regulated, the CBN pointed out that it was also being supervised by the Nigeria Deposit […]
Tag: Microfinance Banks
NDIC, judiciary, police to prosecute operators, debtors of 103 MFBs
The Nigeria Deposit Insurance Corporation, NDIC has disclosed that plans are underway to prosecute operators and debtors who contributed to the collapse of 103 Micro Finance Banks (MFBs) in 2012. The Managing Director / Chief Executive Officer, Alhaji Umaru Ibrahim, who revealed this, said NDIC in collaboration with judiciary and […]
CBN to release microfinance bank bail-out plan September
The Central Bank of Nigeria has concluded plans to roll out framework for the disbursement of specialised fund meant to assist microfinance banks with liquidity problems. The Director, Other Financial Institutions Department of the CBN, Mr. Olufemi Fabanwo, made the disclosure during an interview with journalists at the opening session […]
