FULL LIST: CBN revokes licences of 46 microfinance banks
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks (MFBs), citing their failure to meet regulatory requirements for continued operation.
In a statement on Wednesday by Hakama Sidi-Ali, acting director of corporate communications, the apex bank said the revocation took effect from July 1, 2026, in line with Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
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