Regulatory Alerts2006-09-20 | TED-AD-132A-2006Added · Updated
Waiver of the Application, Licensing and Change of Name Fees for Existing Community Banks Converting to Microfinance Banks
The Central Bank of Nigeria (CBN) has waived application, licensing, and name change fees for existing Community Banks converting to Microfinance Banks by December 31, 2007. This waiver aims to encourage the conversion process, reducing documentation costs and other requirements associated with the transition. The decision will be revoked after the specified deadline unless otherwise extended.
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