The Central Bank of Nigeria has ordered Micro Finance Banks to acquire 64 new customers per month.
This comes after a meeting between the CBN and MfB operators on the contributions of the subsector towards the achievement of the country’s goal of 80 percent financial inclusion by 2020.
The Director, Financial Institutions Supervision Department, CBN Tokunbo Martins disclosed this in a letter tagged: “Letter to all Microfinance Banks, MfBs, on the Revised National Financial Inclusion Targets.”
