Nigeria's new norms threaten digital banking start-ups.
Global Banking News-March 13, 2020--Nigeria's new norms threaten digital banking start-ups
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Global Banking News - 13 March 2020
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The Nigerian central bank's revised norms on microfinance bank licence are expected to pose a threat to digital banking start-ups.
The apex bank had recently announced that it would change licencing guidelines for microfinance banks (MFBs). With the move, new minimum capital requirements will be imposed for MFBs. Also, the categories of licenses have been split into four. The new norms are to come into effect from April 1.
Fintechs will be forced to opt for licenses with low...
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