CBN withdraws Operating licenses of 42 Microfinance banks

The Central Bank of Nigeria (CBN), have withdrawn the operating licenses of 42 microfinance banks (MfBs)

Nigeria Deposit Insurance Corporation (NDIC) which stepped in to wind down the banks, said earlier that it would promptly commence the verification of claims of depositors from Monday December 21. The affected Microfinance banks are Hedgeworth MFB, Utako, Abuja;  Future Growth MFB, Utako, Abuja; amongst others.

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