The Central Bank of Nigeria (CBN) has restored the license of a popular microfinance, Eyowo.
The restatement was made known by the Co-Chief Executive Officer of Eyowo, Yomi Adedeji in a statement posted on its X official account on Monday morning.
The Central bank had, on March 23, 2023, withdrawn the digital bank operating license and 50 other companies.
Revoking the license, the apex bank buttressed the licences of the banks were revoked because they had either remained inactive, insolvent, failed to render returns, closed shop, or ceased to carry on the type of banking business for which they were licensed for more than six (6) months.
Eyowo announced that the CBN restored its Microfinance licence with approval in principle after meeting the regulatory requirements.
