BREAKING: CBN Licences Development Bank of Nigeria

The Central Bank of Nigerian has licensed the Development Bank of Nigeria, owned by the Ministry of Finance, a ministry spokesperson said on Wednesday.

The 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).

Details later…