Home CBN unveils online platform for microfinance bank license applications

CBN unveils online platform for microfinance bank license applications

The Central Bank of Nigeria has introduced an online platform for the submission of Microfinance Bank license applications.

The new platform, named the “CBN Licensing, Approval, and Other Requests Portal”, will replace the traditional manual process through which prospective MFB license applicants previously submitted their applications to the CBN.

This was disclosed in a statement sighted by our correspondent and signed by its Director, Corporate Communications, Isa AbdulMumin, on the website of the apex bank.

The online application system offers numerous benefits, including a simplified process, time savings, enhanced communication, and robust security measures. By digitizing the application process, the Bank aims to improve accessibility, reduce paperwork, and expedite license approvals, benefiting both applicants and the economy.

LCCI urges CBN to halt interest rate hikes, cites inflationary concerns
“Consequently, with effect from September 25, 2023, MFB license applicants are required to submit both hardcopy and online applications (via the CBN LARP) as part of a parallel run. The cover letter submitting the hardcopy application must also note a valid application reference from the online submission to be accepted.

From September 25, 2023, prospective MFB applicants are urged to log on to www.larp.cbn.gov.ng to submit their respective MFB license applications. Help and detailed
guidance are available within CBN LARP to assist users in navigating the new platform. A
user guide can also be downloaded from the platform.

Meanwhile, please note that the Bank shall continue to accept manual applications for all other license types until further notice,” it partly read.

Please Kindly Follow us for breaking News, Read, Like, and Share our content.
CDA News

CDA Newshttps://cdanewsonline.com
BEST SELLING BLOG THEME OF ALL TIMES. Follow us for more breaking news . Share,, like and Comment on our contents


Please enter your comment!
Please enter your name here

Most Popular

Uncertainty as ASUU rejects FG’s offer

There is no respite in sight for university workers under the umbrella of Academic Staff Union of Universities, ASthe UU, who are agitating for...

CDA News updates you need to know on Wednesday morning

Good morning dear readers Here is today’s summary from Nigerian Newspapers: 1. The embattled former governor of the Central Bank of Nigeria (CBN), Godwin...

Appeal Court Affirms the Victory of Hon. Dennis Rowland Chinwendu as Winner.

The Court Appeal sitting in Lagos has upheld the victory of Hon. Dennis Rowland Chinwendu, the Vocal and effective Member Representing Isiala Ngwa South...

Appeal Court affirms Fubara as Rivers Gov, dismisses Tonye-Cole petition

An Appeal Court sitting in Lagos State has affirmed the election of Siminalayi Fubara as the governor of Rivers State. The court dismissed the petition...

Recent Comments