Service Banks To Pay N5bn As Capital Base - CBN   The Central Bank of Nigeria has stipulated N5bn minimum capital base requirement for the Payment Service Banks in the country. In a circular to all stakeholders on the guidelines for licensing and regulation of the PSBs,...

CBN Increases MFBs’ Capital Base To N5bn   The Central Bank of Nigeria (CBN) has raised the minimum capital base of microfinance banks (MFBs) in the country, giving them up to April 2020 to recapitalise. The CBN in a circular issued and signed by the Director, Financial...

Microinsurance Firms’ Capital Base Cut Down To N40m By NAICOM   The National Insurance Commission has reduced the minimum capital base for microinsurance companies from N150m to N40m. This was contained in the new microinsurance guideline that was released by the commission on Monday. “As part of the commission’s...