2018-10-22 | FPR/DIR/GEN/CIR/07/016

Review of Minimum Capital Requirement for Microfinance banks in Nigeria

The Central Bank of Nigeria (CBN) has increased the minimum capital requirement for microfinance banks in the country, citing the need to strengthen the sub-sector and improve performance. The new capital requirements are N200 million for Unit Microfinance Banks, N1 billion for State Microfinance Banks, and N5 billion for National Microfinance Banks. Existing microfinance banks have until April 1, 2020, to fully comply with the new requirements.

Nigeria

Central Bank of Nigeria

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