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microfinance

Competition escalates in microfinance sector — Whensu

FOLLOWING the advent of money loan apps, an online borrowing system and Central Bank of Nigeria, CBN’s NIRSAL Microfinance Bank, MfB, competition may have escalated in the MfB subsector. Continue reading Competition escalates in microfinance sector — Whensu at Vanguard News.

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CBN to disburse lower currencies to microfinance banks

The Central Bank of Nigeria (CBN) says it has released guidelines for the disbursement of lower denominations of the Naira through microfinance banks (MFBs) across the country. Continue reading CBN to disburse lower currencies to microfinance banks at Vanguard News.

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CBN lists conditions for disbursement of lower currencies to microfinance banks

The CBN said participating MFBs must be willing to accept a mixture of new and other banknotes. The post CBN lists conditions for disbursement of lower currencies to microfinance banks appeared first on Premium Times Nigeria.

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Creditors of collapsed microfinance companies to receive their entitlements within 30 days

<p class="">Persons entitled to claims from any of the collapsed microfinance companies have been assured to receive their entitlement within 30 days.</p> <p class="">The Receiver, Eric Nana Nipah of PricewaterhouseCoopers (PwC) disclosed the information in a press release.</p> <p class="">According to him, the Bank of Ghana (BoG) is working to pay the affected persons their […]

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Bank of Ghana revokes licences of 347 microfinance companies, 137 now licenced to operate

<p class="">The Bank of Ghana (BoG) has revoked the licences of some 347 microfinance companies in the country.</p> <p class="">This banks according to the BoG are insolvent and had folded up.</p> <p class="">In a statement issued on Friday, 31 May 2019, the central bank said it has, “with effect from today, revoked the licences of […]

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Robbers raid Calabar microfinance bank

CALABAR—A Calabar Microfinance Bank located on Bassey Duke Street was, yesterday afternoon, raided by hoodlums, who carted away large sums of money. Continue reading Robbers raid Calabar microfinance bank at Vanguard News Nigeria.

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CBN to revoke 154 microfinance banks’ licences, 28 others

Nike Popoola The Central Bank of Nigeria on Wednesday gave a notification to revoke the operating licences of 182 other financial institutions in the country. According to the list released by the regulator on Wednesday, 154 of the affected institutions are microfinance banks; six are primary mortgage banks; while the remaining 22 are finance companies. […]

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Old students plans microfinance bank

• Honour late Col. Ali, others Gabriel Dike Command Secondary School, Jos, Old Students Association (COJOSA) has concluded plans to float a microfinance bank to provide soft loans to members and the public. COJOSA, according to the national president, Mr. Ademola Kasumu, has established a venture to produce toiletries and other household items. Addressing newsmen […]

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Microfinance banks loans to MSMEs hit N214b in Dec 2016 — CBN

The Central Bank of Nigeria (CBN) on Friday said that total credit granted by Microfinance banks  to Micro Small and Medium Enterprises (MSMEs) has hit N214.32  billion as at December 31, 2016 The Director of Other Financial Institutions Supervision Department (OFISD),Mrs Tokunbo Martins made this known at the 2nd Annual  Professional Training organised  for Lagos state  […]

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Microfinance Bank Drags Loan Defaulter To Court

The management of Lapo Microfinance Bank, Oshodi, Lagos has dragged an alleged loan defaulter, Mrs. Modupe Marques, 50, before a Lagos Magistrate Court for obtaining a credit facility of N1.5 million by false pretence and refused to refund the money as agreed.

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