CBN Gets Tough On Micro Banks, 83 Ordered Shut

Date: 04-03-2014 5:04 pm (11 years ago) | Author: Afolayon Masofunmomi
- at 4-03-2014 05:04 PM (11 years ago)
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The Central Bank of Nigeria (CBN) has approved the liquidation of 83 licensed microfinance banks, Manager Director, Nigeria Deposit Insurance Corporation (NDIC) Alhaji Umaru Ibrahim said on Tuesday.
Ibrahim who disclosed this when he appeared before the Senate Committee on Banking and Currency to defend NDIC’s 2014 budget also said that plans are on to work out ways and means to regulate mobile banking in the country.
On the closure of 83 microfinance banks, the NDIC boss said that it was discovered that some of the banks exists only on paper while some are used to defraud NigeriCONTINUE READING HERE

Posted: at 4-03-2014 05:04 PM (11 years ago) | Upcoming
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