42 microfinance banks affected as CBN withdraws operating licenses

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CBN Governor, Godwin Emefiele

The Nigeria Deposit Insurance Corporation (NDIC) says the Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 Microfinance Banks in the country.

NDIC, which is the official liquidator of the MfBs, disclosed this in a statement shared on its website on Friday.

According to the statement, the licences were revoked on November 12, 2020.

The corporation also gave the names and addresses of the affected banks, while assuring insured depositors of the safety of their assets.

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“This is to inform the depositors, creditors, shareholders and the general public that the operating licences of the under listed 42 microfinance banks have been revoked by the Central Bank of Nigeria effective 12th November 2020.

“The Nigeria Deposit Insurance Corporation, the official liquidator of the banks whose licences were recently revoked, is in the process of closing the listed banks and pay their insured depositors.

“We therefore request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December, 2020 till Thursday, 24th December, 2020.”

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