CBN Revokes Creditville, NOW NOW Digital, Gold MFB, 43 Other Microfinance Banks’ Licences
The Central Bank of Nigeria has revoked the operating licenses of 46 microfinance banks due to regulatory failures, including capital deficiencies and inactivity. This move is intended to strengthen the national financial system and protect depositors.
Why it matters
This regulatory action significantly impacts the availability of credit for small businesses and individuals in Nigeria.
CBN revokes 46 microfinance bank licences after finding capital deficiencies, operational failures and multiple breaches of regulatory requirements.
The report is a factual summary of a government regulatory announcement.
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