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If you have business with any licenced microfinance bank (MFB), this might be a good time to do a quick roll call.
What happened? On Wednesday, the Central Bank of Nigeria (CBN) withdrew the operating licences of 46 microfinance banks across the country with immediate effect. Add Goldfish MFB, whose licence was suspended in May and disclosed by the CBN on June 30, and 47 microfinance banks now have far bigger problems to worry about.
Originally published by TechCabal.