ABUJA, SEPTEMBER 28, 2018 – The Central Bank of Nigeria (CBN) has revoked the operating licenses of 182 other financial institutions in the country.
It was gathered that the list which was released on Wednesday include 154 of microfinance banks; six primary mortgage banks and 22 finance companies.
According to the CBN, 62 of the microfinance banks had already closed down; 74 became insolvent; 12 were terminally distressed; while six voluntarily liquidated.
He added that eight finance firms voluntary liquidated; 13 failed to recapitalize; with one becoming insolvent.
