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CBN Revokes Licences Of 46 Microfinance Banks Over Regulatory Breaches

CBN Revokes Licences Of 46 Microfinance Banks Over Regulatory Breaches

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...