Sycamore says the CBN's revocation of its MFB licence stems from legacy issues tied to an acquired bank, as the regulator revokes 47 MFBs.

Breaking: CBN Revokes Operating Licences of 46 Microfinance Banks Over Regulatory Breaches

The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks across the country over multiple regulatory violations, including insolvency,…

The Central Bank of Nigeria (CBN) has revoked the operating licenses of 46 Microfinance Banks with effect from July 1, 2026, in accordance...

The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks (MFBs).

The CBN has revoked the operating licences of 46 microfinance banks due to regulatory breaches. Find the full list and reasons for the CBN revokes licences

Sidi-Ali said that the action was in accordance with CBN’s powers under sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.

The Central Bank of Nigeria, CBN, has revoked the operating licences of 46 microfinance banks across the country for failing to meet regulatory requirements.

Sycamore says the CBN's revocation of its MFB licence stems from legacy issues tied to an acquired bank, as the regulator revokes 47 MFBs.