The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks, citing persistent regulatory breaches and failure to meet the conditions required to continue operating as licensed financial institutions. In a statement issued on Wednesday, the apex bank said the revocation takes effect from July 1, 2026, and was approved by...
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Zenith Bank Founder Ovia Retires, Bello Named Chairman
Zenith Bank Plc said on Tuesday its founder and Group Chairman, Jim Ovia, has retired following the expiration of his tenure in line with regulatory guidelines. The lender disclosed the development in a corporate filing to the Nigerian Exchange Ltd. It added that the retirement complies with the Central Bank of Nigeria’s corporate governance rules...