CBN Withdraws Licences of 42 Banks

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The operation licences of 42 Micro Finance Banks in Nigeria have been withdrawn.

This has been made known on the official social media handles of the Nigerian Deposit Insurance Commission (NDIC).

The message reads that the action is to be adhered to, with immediate effect.

The commission also explains that it will have to take records and audits of all the depositors, creditors and shareholders of the affected banks between now and Thursday, December 24, 2020.

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