18
Apr 19
Circular on the Review of Minimum Capital Requirements for Microfinance Banks in Nigeria
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The Central Bank of Nigeria (“CBN”) introduced the Microfinance Policy, Regulatory and Supervisory Framework in 2005 as one of the means to increase financial inclusion.
Upon review of the microfinance sector of the economy, the CBN determined that the recapitalization of the sector is a necessary step to increase the general health of Micro Finance Banks (“MFB’s”) in Nigeria.