World News

Africa must reduce fiscal deficits – IMF

ByAgency Reporter Tuesday, 26 Oct 2010 Sub-Saharan African governments must begin trimming fiscal deficits as economic growth in the world’s poorest region returns to the levels it reached before the global financial crisis, the International Monetary Fund has said. A report from Bloomberg in Johannesburg quoted the Head of IMF’s […]

Nigeria’s CBN set to launch NAMI

  The Central Bank of Nigeria in collaboration with the Rural Finance institution Building Programme (RUFIN) will be convening a meeting of the Officials of the Zonal Associations of unlicensed Microfinance Institutions (MFIs) from the six geo-political zones of Nigeria.   The objective of the meeting is to formally launch […]

Revealed! Only 47 MFBs were recommended for license revocation

Oct 18, 2010; Babajide Komolafe   The joint examination of the Central Bank of Nigeria (CBN) and the Nigeria Insurance Corporation (NDIC) on microfinance banks recommended the revocation of the licenses of just  47 banks.   On September 24, the CBN revoked the licenses of 224 microfinance banks but two weeks […]