Regulatory Alerts2020-04-30 | FPR/DIR/GEN/CIR/07/054Added · Updated
Review of Minimum Capital Requirements for Microfinance Banks in Nigeria
The Central Bank of Nigeria has extended the deadline for Microfinance Banks to meet the minimum capital requirements due to the impact of the COVID-19 pandemic. The new deadlines are staggered based on the category of the MFB, with rural and state MFBs having until April 2021 to meet the first threshold and national MFBs needing to meet the $3.5 billion capital requirement by the same date.
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