CBN Revokes Operating Licences of 182 Financial Institutions
The Central Bank of Nigeria (CBN) has announced plan to withdraw the operating licences of 182 other financial institutions (OFIs).
These includes 154 microfinance banks; six primary mortgage banks and 22 finance companies would be affected.
The central bank stated this in a notice on its website.
Providing reasons for the revocation of the licences of the institutions, the CBN explained that while for the microfinance banks, 62 had already closed shop, another 74 were insolvent, while 12 were terminally distressed” and the remaining six “voluntarily liquidated”.
From the 22 finance companies, it said eight voluntarily liquidated, 13 could not recapitalise and one became insolvent.
Umar-sadiq announced 2018 Eisenhower Fellow A Nigerian, Muntaqa Umar-sadiq, CEO of the Private Sector Health Alliance of Nigeria, has been announced a 2018 Eisenhower Innovation Fellow. He is the only Nigerian selected as part of 23 ascendant global leaders from around the world who will embark on a leadership journey across the United States to engage in transformative exchanges of ideas with leading innovators in their fields; and bring action-oriented solutions back to their countries.
The 23 Eisenhower Innovation Fellows are acknowledged by their outstanding and unique achievements in their various fields and are creative visionaries and disruptors who are working to make the world a better place.
Recognising his pioneering work in developing the Nigeria Health Innovation Marketplace (NHIM) and fostering public private partnerships to shape health markets; alongside business and public sector leaders in Nigeria, including Mr. Aliko Dangote, President/CEO, Dangote group; Dr. Muhammad Ali Pate; Mr. Jim Ovia, chairman, Zenith Bank; Mr. Aig Imoukhuede, President, Nigerian Stock Exchange; Mr. Herbert Wigwe, CEO, Access bank, Muntaqa’s Eisenhower fellowship will focus on models to scale up gains from the NHIM and integrate an impact investment fund aimed at accelerating early stage health innovations; and investing in exemplary financially viable health innovation ecosystems that serve the health poor and underserved in Nigeria.
Eisenhower Fellowships Chairman and former U.S. Secretary of Defense Robert M. Gates, in a statement said that the Eisenhower Fellows would apply what they learn from their peers and in their engagements with experts in their respective fields to maximise their potential and produce sustained impact long after their fellowships are completed.
“We welcome these exceptional global leaders into the dynamic global network of Eisenhower Fellows around the world who are working to enhance international understanding and generate a positive impact in their countries,” Gates said.
“This remarkable group of change agents is committed to solving some of the most pressing global issues of our day,” the President of Eisenhower Fellowships, George de Lama said.
Muntaqa is currently the CEO of the Private Sector Health Alliance, and was the Senior Technical Advisor to the former Minister of State for Health in Nigeria. He commenced his career as a healthcare M & A investment banker at Morgan Stanley in the UK where he focused on the Healthcare & Pharmaceutical sector. He is a graduate of the University of Cambridge, England and Imperial College School of Medicine in London, and also a holder of Chartered Alternatives Investment Analyst (CAIAI) charter. Muntaqa was also honored as a 2016 World Economic Forum (WEF) Young Global Leader (YGL).