Nigeria’s central bank asks all microfinance institutions to recapitalise by 2020

Wednesday, October 31, 2018

By Aderemi Ojekunle

Nigeria’s central bank (CBN) has raised the minimum capital base of microfinance banks (MFBs) across the country, informing them to recapitalise by April 2020.

Kevin Amugo, CBN’s Director, Financial Policy and Regulation Department, made this known in a circular issued on October 22, 2018.

Image courtesy of Shardayyy.

Source: Pulse Nigeria (link opens in a new window)

financial services, MFIs, microfinance