CBN Shuts Down 46 Microfinance Banks Over Regulatory Breaches

The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks for failing to comply with key regulatory requirements. The decision, which took effect on July 1, 2026, was approved by the CBN Governor, Olayemi Cardoso, in line with Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020. In … The post CBN Shuts Down 46 Microfinance Banks Over Regulatory Breaches appeared first on Goldmyne TV.

  Updates   Jul 3, 2026   0   13  Add to Reading List
CBN Shuts Down 46 Microfinance Banks Over Regulatory Breaches












The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks for failing to comply with key regulatory requirements. The decision, which took effect on July 1, 2026, was approved by the CBN Governor, Olayemi Cardoso, in line with Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020. In …

The post CBN Shuts Down 46 Microfinance Banks Over Regulatory Breaches appeared first on Goldmyne TV.

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