The Central Bank of Nigeria on Tuesday revoked the operating licenses of at least 132 microfinance banks in the country. Four primary mortgage banks and three finance companies were also included. The apex bank said the Microfinance Banks, Finance Companies and Primary Mortgage Banks have ceased to carry on, in Nigeria, the type of business for which their licences were issued for a continuous period of six months, The Nation reports.
The Central Bank of Nigeria has revoked the operating licenses of 132 Microfinance banks, four primary mortgage banks and three finance companies in Nigeria.