Investors behind the proposed Coin Finance Company Ltd have demanded the return of N100.35m paid to the Central Bank of Nigeria for a finance house licence, alongside applicable interest, following the suspension of new licence applications.
Promoter Representative, Mr Christopher Itua, made the demand in a statement issued on Sunday, saying the funds had remained with the apex bank for about 15 months without the proposed institution progressing.
The investors said they paid N100m as capital deposit, N100,000 as application fee and N250,000 as licensing fee on 16 July, 2025, bringing the total payment to N100.35m.
The payment was made as part of the requirements for licensing Coin Finance Company Ltd as a finance house. However, Itua said CBN officials informed the promoters in October 2025 that processing of new finance house applications had been suspended until further notice.
Following the suspension, he wrote the CBN Department of Financial Policy
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