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The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks across the country, deepening a regulatory purge that has now shut down more than 200 community lenders in three years. The apex bank announced the decision in a statement issued on Wednesday and signed by its Acting Director of Corporate…
Banks and other financial institutions across Nigeria have been ordered to immediately freeze all accounts, funds and assets belonging to six individuals and four Bureau de Change operators designated for terrorism financing, as regulators move to disrupt money channels linked to the Islamic State network. The directive came in a circular dated June 24, 2026,…
The Central Bank of Nigeria (CBN) has ordered all commercial banks to undergo rigorous stress tests starting April 1, 2026. This directive arrives as the industry enters the final stretch of its recapitalisation journey, with a March 31 deadline for meeting new capital floors. The apex bank intends to measure how lenders would survive “extreme…
