Mainstreet Microfinance Bank celebrates its 10th year anniversary in Lagos. The Microfinance Bank is a product of the defunct Afribank, and one of the biggest and Microfinance Banks in Nigeria.Read More
THE Central Bank of Nigeria, CBN, and the International Finance Corporation, IFC, have charged Microfinance Banks, MfBs to embrace self regulation and consolidation to enhance performance and sustainability of the sector.Read More
THE Senate Committee on Banking, Insurance and Other Financial Institutions has expressed concern over the decision of the Central Bank of Nigeria (CBN) to increase the minimum capital base of microfinance banks.Read More
Inlaks, financial technology solutions provider in Nigeria and Sub-Saharan Africa, has commended the Central Bank of Nigeria for licensing additional 28 Micro Finance Banks (MFBs) in the country. This brings the number of microfinance banks in the country to 1,008, representing an increase of three per cent in that sector from 2016 to date.Read More
The Central Bank of Nigeria, CBN, is set to increase the minimum capital requirement for Microfinance Banks, MfBs with a view to enhancing their performance.Read More
THE Central Bank of Nigeria, CBN, has directed microfinance banks, MFBs, mortgage banks and all other financial institutions, OFIs, to enroll their customers for the Bank Verification Number, BVN, before August this year.Read More
THE Central Bank of Nigeria, CBN, and International Finance for Agricultural Development, IFAD, have rewarded 60 microfinance banks for performance in rural financing.Read More
The Minister of Finance, Mrs. Kemi Adeosun, has urged the Central Bank of Nigeria (CBN), to implement the requirement for Bank Verification Number (BVN) to account holders in Microfinance Banks (MFBs).Read More
In line with the abolition of branches and cash centres for Unit Microfinance Banks (MfBs), the National Association of Microfinance Bank (NAMB) is awaiting the approval of recommendations of a committee set up on the matter.
Recall that the revised policy framework for Unit Microfinance banks, stipulates that it operate in one location and prohibited from having branches/cash centres.