• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Finance

179 Microfinance Banks Face Liquidation as CBN, NDIC Finetune Process

by Techeconomy
May 27, 2023
in Finance
0
Microfinance Banks in Nigeria
Microfinance Banks in Nigeria

Microfinance Banks in Nigeria

UBA
Advertisements

By: Olivia Nnorom

Shehu Usman, Coordinator, NDIC Kano zonal office, at a lecture organised by the Nigeria Deposit Insurance Corporation (NDIC) said that the corporation has planned to completely liquidate the 179 microfinance banks whose licences were recently revoked by the Central Bank of Nigeria.

Usman said this while commemorating the 2023 Financial Literacy Day held at Rumfa College in Kano on thursday.

According to him, the apex bank had since forwarded the list of the affected Microfinance banks and those of the four primary mortgage banks and three finance companies to the corporation for final liquidation.

Usman said the corporation is working with the CBN to achieve the liquidation mission because it has the responsibility to ensure the protection and guarantee of the financial disposition of Nigerians.

The NDIC Zonal boss hereby used the occasion to warn bank customers against depositing or lodging their money in any bank that does not have the sticker of the corporation.

Speaking on Financial Literacy Day for the students, he said it has become an urgent need for students to be aware of financial transactions and how to go about them.

The event, he said, will facilitate students’ enligthenment on how to operate accounts, including business transaction accounts, so they know how to invest their money or save it.

Khadija Masanawa, an official in the NDIC Kano zonal office, explained that the corporation had provided deposit guarantees to a total of 984 CBN-licensed banks across the country.

Safiyanu Na’abba, the Principal of the College, in his remarks commended the corporation for organising the programme, which he said had enlightened both staff and students of the school on the operations of the corporation.

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: microfinance banks
Techeconomy

Techeconomy

Next Post
Delivery vehicles for NIPOST

NIPOST Gets 10 Additional Operational Mail Vans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Ms Abisola Nwoboshi, discusses AXA Mansard Our Endowment Life’ Insurance Policy

Abisola Nwoboshi: AXA Mansard is Offering Nigerians Better Living via ‘Our Endowment Life’ Insurance Policy  

1 year ago
Cap Table by Philani Mzila on Merger and Acquisition, Startups Due diligence

Five Ways Startups Can Impress Investors During Due Diligence

1 year ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.