The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks, effective July 1, 2026, as part of a regulatory crackdown on non-compliant lenders. The apex bank said the affected institutions failed to meet regulatory requirements, citing issues such as insufficient assets to cover liabilities, prolonged inactivity, and others. Fintech-linked institutions affected include Sycamore Microfinance Bank, NOW NOW Digital MFB, OurPass MFB, Creditville MFB, and Casha MFB.