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CBN issues 5 new banking licences

•Globus, Titan, others to commence operations by August•Capital largely sourced locally

The Central Bank of Nigeria (CBN) has issued licenses to five new banks, according to three banking sources familiar with the matter, who spoke to BusinessDay. Sources say the CBN is being driven by the need to attract new investments into the sector and serve the country’s over 50 million unbanked and under-banked people, even…

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