05/08/2026
π¦ What happens if your microfinance bank loses its licence?
The Central Bank of Nigeria has revoked the licences of 46 microfinance banks, leaving many customers wondering what happens to their savings.
Our latest explainer breaks down:
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What the closures mean for customers
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How deposit insurance works
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What affected depositors should do
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How to check if a microfinance bank is licensed before you use it
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The red flags to look out for
Read the explainer here:
The CBN recently shut 46 microfinance banks. We explain what affected depositors should do.