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BREAKING News: CBN Licences Development Bank of Nigeria

Posted by Odinaka on Wed 29th Mar, 2017 - tori.ng

An official of the Federal Ministry of Finance on Wednesday, confirmed the official licensing of the Development Bank of Nigeria (DBN) by the Central Bank of Nigeria.

CBN

According to Premium Times, the Central Bank of Nigerian (CBN), has on Wednesday, March 29, licensed the Development Bank of Nigeria, owned by the Ministry of Finance, a ministry spokesperson said.

The Development Bank of Nigeria (DBN) was conceived in 2014, but its take-off had been fraught with delays.

The DBN is a wholesale financial institution which aims to increase access to finance for Micro, Small and Medium Enterprises (MSMEs) through eligible financial intermediaries (participating financial institutions).

We'll be bringing you more details later...