CBN releases guidelines for banks looking to convert, re-categorize licenses

The Central Bank of Nigeria (CBN) has released a new guideline for financial institutions interested in converting or re-categorizing their licenses.

In recent months, Zenith, Access, First Bank, FCMB, and GTB are some of the financial institutions that have transitioned to holding companies.

Also, there are reports that many fintech companies are pushing towards becoming full-fledged digital banks, offering microfinance services.

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