tag:blogger.com,1999:blog-55509193822841633662026-05-16T03:13:51.110-07:00Nigeria MicrofinanceComprehensive Website on Microfinance in NigeriaNaveenhttp://www.blogger.com/profile/05990529623136040209noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-5550919382284163366.post-43519614344780985612021-08-07T21:53:00.005-07:002021-08-07T21:58:03.989-07:00Central Bank Draft Guidelines for the regulation and supervision of microfinance banks in NigeriaThe Central Bank of Nigeria (CBN) has published the Guidelines for the Regulation and Supervision of Microfinance Banks (the "Guidelines"), which took effect on April 1, 2020. The Guidelines will have an influence on the operations of various digital financial services offered by Microfinance Banks in Nigeria. Here are the salient features: Earlier there were three categories of Naveenhttp://www.blogger.com/profile/05990529623136040209noreply@blogger.com3Lagos, Nigeria6.5243793 3.3792057-39.261680099520639 -66.9332943 52.310438699520638 73.6917057tag:blogger.com,1999:blog-5550919382284163366.post-49280802977544828852013-02-16T23:41:00.001-08:002013-02-16T23:43:43.520-08:00Four barriers to financial inclusion - How to overcome them according to CBN Governor Long distance access points, Cumbersome eligibility requirements, Low financial literacy, and High costs of financial services - these are the four barriers for financial inclusion according to Sanusi Lamido Sanusi, Governor of Central Bank of Nigeira. These are also the same four barriers that propelled the need for implementation of National Financial Inclusion Strategy 2020. For those DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com5Abuja, Nigeria9.066666699999999 7.48333330000002668.8157752 7.1606098000000262 9.3175581999999988 7.806056800000027tag:blogger.com,1999:blog-5550919382284163366.post-59598935342471086652013-01-28T22:39:00.002-08:002016-03-08T20:37:37.372-08:00Microfinance banks operating unauthorized branches shall be punished by CBN The Director of Other Financial Institutions Supervision Department, Central Bank of Nigeria, Mr O A Fabamwo, has issued a Circular (numbered OFI/DIR/CIR/GEN/01/09 dated 17 December 2012) in the last month of the 2012 giving a clear reminder to all the MFBs to not to indulge in opening unauthorized branches. What are Unauthorized Branches? The Central Bank of Nigeria (CBN), in the said DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com10Abuja, Nigeria9.066666699999999 7.48333330000002668.8157752 7.1606098000000262 9.3175581999999988 7.806056800000027tag:blogger.com,1999:blog-5550919382284163366.post-37350762660214484422013-01-28T02:45:00.002-08:002013-01-28T02:50:23.683-08:00Revised Regulatory and Supervisory Guidelines for Microfinance Banks (MFBs) in Nigeria Central Bank of Nigeria has revised the Regulatory and Supervisory Guidelines for Microfinance Banks in Nigeria. The draft document dated December 2012 is provided below for public reference: Download your copy DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com21tag:blogger.com,1999:blog-5550919382284163366.post-38885864296875026722013-01-28T02:39:00.000-08:002013-01-31T20:43:00.525-08:00Nigerian Microfinance Banks Must Read Section 19 of Revised Guidelines by CBN Section 19 of Revised Regulatory Guidelines by CBN - What is it about? And, Why should Microfinance Banks be worried about it? What are the typical examples where MFBs are subject to Section 19? Are they punishable offenses? If so, What is the penalty? Hold your breathe. We'll address each of these questions now. What is Section 19? Firstly, let us be aware that the Central Bank of Nigeria (DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com9tag:blogger.com,1999:blog-5550919382284163366.post-20573883236262946712012-11-15T01:01:00.000-08:002013-01-28T02:48:08.942-08:00Why must Central Bank of Nigeria promote Financial Inclusion? Central Bank of Nigeria is promoting Financial Inclusion on a high priority basis. What is this financial inclusion all about and why should CBN be bothered about it? Financial Services like providing facilities for savings, loans, money transfers, insurance etc is considered to be a public good. As with any public good, the Governments are responsible for rightful allocation to its citizens DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com8tag:blogger.com,1999:blog-5550919382284163366.post-17834429762246604002012-11-01T16:06:00.005-07:002012-11-02T05:09:55.626-07:00CBN Publication: Summary Report of Financial Inclusion Strategy in Nigeria The Central Bank of Nigeria (CBN) has launched Financial Inclusion Strategy in October 2012. The document below titled as "National Financial Inclusion Strategy" is provided as reference for our readers who wish to read this document on our website without having to download. If you wish to download, we have provided the download link at the end of the document. Click here to download thisDayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com4Central Bank Of Nigeria, 760, Nigeria10.2923873 11.139441610.2904343 11.1369741 10.2943403 11.1419091tag:blogger.com,1999:blog-5550919382284163366.post-40440740737424380342012-11-01T15:56:00.000-07:002012-11-02T09:16:03.244-07:00National Financial Inclusion Strategy of Nigeria - Summary Report What is the meaning of "Financial Inclusion"? Financial Inclusion is about providing financial services such as loans, savings, money transfers, insurance and pensions in adequate measures to the disadvantaged and low income people of the society. The basic premise of Financial Inclusion is this: Banking and Payment Services is considered as a public good. Much like any other public good, DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com3Central Bank Of Nigeria, 760, Nigeria10.2923873 11.139441610.2904343 11.1369741 10.2943403 11.1419091tag:blogger.com,1999:blog-5550919382284163366.post-47099666092020148572012-10-28T22:54:00.001-07:002012-11-02T09:18:26.630-07:00Reducing financial exclusion rate to 20% by 2020. Is it achievable? The Central Bank of Nigeria (CBN) has recently (in October 2012) launched the much acclaimed Financial Inclusion Strategy. The strategy is expected to dramatically change the financial landscape of Nigeria. One of its several objectives is to ensure 80% of Nigerians have access to finance. Is it achievable?   DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com6tag:blogger.com,1999:blog-5550919382284163366.post-2047152541468448652011-06-29T00:31:00.000-07:002012-11-02T09:45:32.283-07:00CBN launches revised microfinance policy framework for Nigeria Central Bank of Nigeria (CBN) has launched the much-awaited revised microfinance policy framework for Nigeria. The Board of Directors (BOD) of the Bank at its 402nd Meeting held on Friday, 29th April, 2011 considered AND APPROVED the revised Microfinance Policy, Regulatory and Supervisory Framework for Nigeria. The Microfinance Policy, Supervisory and Regulatory Framework for Nigeria was Naveenhttp://www.blogger.com/profile/05990529623136040209noreply@blogger.com33Central Bank Of Nigeria, 760, Nigeria10.2923873 11.139441610.2904343 11.1369741 10.2943403 11.1419091tag:blogger.com,1999:blog-5550919382284163366.post-41427173613564960302011-01-18T16:54:00.000-08:002012-11-24T03:37:11.762-08:00Prudential Guidelines for Deposit Money Banks by CBN Read the on-line version of the Prudential Guidelines for Deposit Money Banks. This is published by CBN in June 2010. Naveenhttp://www.blogger.com/profile/05990529623136040209noreply@blogger.com29tag:blogger.com,1999:blog-5550919382284163366.post-81658621124207378792010-05-03T23:50:00.000-07:002010-05-04T04:06:23.541-07:00Will CBN do good by stopping MFBs from accepting Deposits?There are speculations in the microfinance sector that Central Bank of Nigeria may stop microfinance banks from accepting deposits. VANGUARD recently reported the opinions in its article titled "Anxiety heightens over impending MFB policy review" dated 03 May 2010. Let us first review few important provisions of Microfinance Policy Framework of CBN and also discuss the spirit behind it before weDayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com3Lagos, Nigeria6.4530556 3.39583336.1119091 2.9289143 6.7942021 3.8627523tag:blogger.com,1999:blog-5550919382284163366.post-40002329654119067692010-04-20T10:58:00.000-07:002016-03-08T20:39:30.974-08:00Microfinance Policy in Nigeria Read the on-line version of the Microfinance Policy Download Microfinance Policy in NigeriaDayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com2Abuja, Nigeria9.0764785 7.39857400000005338.825586 7.0758505000000529 9.3273710000000012 7.7212975000000537tag:blogger.com,1999:blog-5550919382284163366.post-76466840664416813812010-04-20T08:55:00.000-07:002010-05-03T22:53:47.908-07:00Regulatory and Supervisory FrameworkRead the on-line version of the complete policy document on microfinance developed by Central Bank of Nigeria as a Regulatory and Supervisory Framework DayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com4tag:blogger.com,1999:blog-5550919382284163366.post-18394552122281715612010-04-20T08:09:00.000-07:002013-01-28T02:56:11.408-08:00CBN RegulationsCentral Bank of Nigeria (CBN) is one those first few regulatory bodies in the world who have drafted and implemented national-level microfinance policies in their respective countries. As it is truly said, a law-maker is efficient as long as it continues to make realistic laws considering the impact on the poorest human being on its land. CBN has lived up to the industry's expectations of beingDayaSensehttp://www.blogger.com/profile/02348303129967893015noreply@blogger.com41