The Central Bank of Nigeria (CBN) has unveiled a new online platform for the submission of microfinance bank (MFB) license applications.
According to an official press release seen by TheWitness, the new platform known as CBN Licensing, Approval and Other Requests Portal (CBN LARP) would be replacing the current manual process which previous prospective applicants for MFB licenses have been physically submitting their applications to the CBN.
The apex bank also noted that it would extend the platform to other categories of license.
CBN further disclosed that the new LARP platform would help simplify the process by which Microfinance Banks get their licensing.
The apex bank also set a deadline for the implementation of this new platform.
Here’s an excerpt from the press release:
CBN also noted that it would continue to accept manual applications for all other licenser types until further notice.
President Bola Tinubu recently nominated Dr. Olayemi Michael Cardoso to assume the role of Governor for the Central Bank of Nigeria (CBN).
This five-year appointment is subject to the endorsement of the Nigerian Senate, in compliance with Section 8 (1) of the Central Bank of Nigeria Act, 2007.
