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CBN reviews MFBs’ capital requirements, approves compliance by instalment

…Categorises unit MFB into tier-1, 2

CBN

The Central Bank of Nigeria (CBN) on Monday reviewed the minimum capital requirements for microfinance banks, allowing for instalment payment and categorisation of Unit Microfinance Bank into tier-1 and tier-2. Consequently, tier-1 MFBs are to pay N200 million as minimum capital requirement, while tier-2 MFBs are expected to pay N50 million. In a circular signed…

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