Key takeaways The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks, effective July 1, 2026, as part of a regulatory crackdown on non-compliant lenders. The apex bank said the affected institutions failed to meet regulatory requirements, citing issues such as insufficient assets to cover liabilities, prolonged inactivity, and others. Fintech-linked institutions affected include Sycamore Microfinance Bank, NOW NOW Digital MFB, OurPass MFB, Creditville MFB, and Casha MFB.
The Central Bank of Nigeria (CBN) has explained why it revoked the operating licences of 46 microfinance banks (MFBs), stating that the institutions no longer met
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