THE Central Bank of Nigeria (CBN) has revoked the operating licences of microfinance banks (MfBs), primary mortgage banks (PMBs) and finance companies as disclosed by the regulatory body in two separate gazettes it released on Tuesday, May 23. The impact of these revocations would affect the larger society, a lecturer at the Department of Finance, University of Lagos, Abu Noruwa, told The ICIR. Before the revocation, the CBN would have found out that the operators were not complying with the rules and regulations, and the owners of the banks could…
Read MoreList Of 47 Microfinance Banks Licences Revoked By CBN
