Financial sector shrinks further as CBN hits 42 MFBs
The Central Bank of Nigeria (CBN) weekend revoked the operating licences of 42 microfinance banks in the country. Nigeria Deposit Insurance Corporation (NDIC) said in its website in an announcement titled ‘Notice of closure of 42 microfinance banks’ that “This…
Don seeks two-way regulatory authorities to tame collapse of banks’, others
A Senior Lecturer in Strategy, Corporate Governance and Risk Management, Lagos Business School, Pan Atlantic University, Lekki, Professor Franklin Ngwu, has called for immediate collapse of all financial regulatory agencies to two so as to give tailored supervision to the…
Over 3m Nigerians lost N18bn to MMM in 6 months—NDIC report
At last, figures have emerged on the real incurred by Nigerians from the once popular Ponzi scheme, Mavrodi Mundial Movement (MMM) as the Nigerian Deposit Insurance Corporation (NDIC) Thursday revealed that over three million Nigerians blew away N18bn in the…
