A 41year-old manager of SEAP Micro-Finance Bank Saki, Sola Ogungbe has reportedly committed suicide in his Iseyin home. Ogungbe was said to have given loan facilities to some customers who defaulted in repayment. A staff was said to have called Ogungbe’s wife on Wednesday afternoon because the former manager had …
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The Central Bank of Nigeria (CBN) has announced revocation the licences of 132 Microfinance Banks, three Finance Companies and four Primary Mortgage Banks across the country. The revocation is contained in a gazetted circular signed by the CBN Governor, Mr Godwin Emefiele, in Abuja. According to Emefiele, the Microfinance Banks, …
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Despite the increasing awareness and reforms in the Bureau De Change (BDC) sub-sector, a significant number of operators are below the requisite rules guiding their activities, the Financial Stability Report of the Central Bank of Nigeria (CBN) for 2018, has noted. In a target examination of 100 selected BDCs conducted …
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