January 16, 2021


Dambela Blog

CBN revokes operating licences of 42 microfinance banks

1 min read

The Central Bank of Nigeria, CBN has revoked the operating licences of 42 microfinance banks in the country.

This was made known by the Nigeria Deposit Insurance Corporation NDIC on Friday in an announcement on its website titled ‘Notice of closure of 42 microfinance banks’.

It stated, “This is to inform the depositors, creditors, shareholders and the general public that the operating licences of the under listed 42 microfinance banks have been revoked by the Central Bank of Nigeria effective 12th November, 2020..

“We therefore request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December, 2020 till Thursday, 24th December, 2020.

The list of closed microfinance banks is published in NDIS website.

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