CBN REVOKES LICENSES OF 46 MICROFINANCE BANKS. (PHOTOS)

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 CBN revokes licenses of 46 Microfinance banks The Central Bank of Nigeria (CBN) has revoked the operating licenses of forty-six (46) Microfinance Banks with effect from July 1, 2026. A statement released by the apex bank today July 1, says the revocation was approved by the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, following the banks’ failure to meet the regulatory requirements for continued operation as licensed financial institutions. According to the revocation order, the action became necessary due to Insufficient assets to meet liabilities, Closure of operations without the CBN approval, Inactivity and cessation of financial intermediation, Failure to commence operations within 12 months of licence approval, and Failure to maintain minimum capital funds unimpaired by losses. CBN said the revocation of the licenses is part of the Bank’s ongoing efforts to safeguard the stability of the financial sector, protect depositors, and ensure that licensed institut...
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BANDIT LEADER KACHALLA MAHA BOASTS OF INFLUENCE, CLAIMS ACCESS TO SECURITY INFORMATION. (PHOTO)

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 Bandit Leader Kachalla Maha Boasts of Influence, Claims Access to Security Information


A suspected bandit kingpin identified as Kachalla Maha has made bold claims about his alleged influence and reach within Nigeria’s security structure.


In a statement circulating online, the individual boasted about his capabilities and suggested he has access to sensitive information.


“I can kidnap any government if I want, even governors. The forces they send to attack me are my boys, they inform me before coming. I receive info on national security strategy meetings involving the president. They only operate if I allow them,” he said.

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