NDIC to Dissolve 89 Defunct Microfinance Banks
The Nigeria Deposit Insurance Corporation (NDIC) has begun the final legal process to wind down 89 defunct Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs). These institutions were part of a larger group of 183 lenders whose licences were revoked by the Central Bank of Nigeria (CBN) in May 2023. The corporation is now approaching…