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CSOs Warn of Economic Hardship as CBN Revokes 46 Microfinance Bank Licences Nationwide

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A coalition of civil society organisations has expressed deep concern over the revocation of the operating licences of 46 Microfinance Banks (MFBs) by the Central Bank of Nigeria (CBN), warning that the decision could worsen financial exclusion, weaken grassroots economic activities and inflict hardship on millions of Nigerians, particularly in Kano State.

The concern was contained in a joint statement signed by Comrade Bashir Shehu, Executive Director of the African Centre for Civil Rights, Social Justice and Good Governance (Convener), and Hajiya Lami Adamu Garba, Executive Director of the Centre for Women Development Initiative, Katsina (Co-Convener), on behalf of a coalition of eight civil society organisations.

The coalition noted that Kano State was among the worst affected by the licence revocation, with 13 of the affected microfinance banks located in the state out of the 46 licences withdrawn nationwide.

According to the statement, Kano previously had about 40 licensed microfinance banks, meaning that nearly one-third of the state’s microfinance institutions have now lost their operating licences.

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The organisations observed that the affected banks play a critical role in providing financial services to low-income earners, petty traders, small and medium-scale enterprises (SMEs), women, farmers and rural communities that are often excluded from conventional banking services.

They warned that the closures could lead to increased financial exclusion, disruption of small businesses, loss of public confidence in the microfinance sector, reduced access to credit and savings facilities, and broader socio-economic challenges in communities that rely heavily on microfinance institutions.

While acknowledging the CBN’s statutory responsibility to regulate the financial sector and ensure compliance with banking standards, the coalition stressed that regulatory actions should be implemented in a manner that also protects depositors, preserves public confidence and promotes financial inclusion.

The groups urged the CBN to review the decision where possible and work with relevant stakeholders to minimise the impact on affected communities. They also called on the Kano State Government, members of the National Assembly and the Nigeria Deposit Insurance Corporation (NDIC) to ensure that depositors’ funds are protected and that viable microfinance institutions receive the necessary support to strengthen their operations.

The coalition further advocated improved financial literacy programmes, enhanced regulatory guidance and capacity-building initiatives for microfinance banks, arguing that preventive reforms and institutional support would yield better long-term outcomes than actions capable of widening the country’s financial inclusion gap.

The organisations maintained that protecting access to community-based financial services remains essential to economic growth, poverty reduction and sustainable development, urging all relevant authorities to take immediate steps to safeguard the interests of affected Nigerians.

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NFF Appoints Eguavoen as Interim Head Coach of Super Falcons

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By Yusuf Danjuma Yunusa

Augustine Eguavoen has been appointed the interim head coach of the Super Falcons.

The former Super Eagles head coach will lead the Falcons for their 2028 Olympic Games double-legged qualifier against Comoros in October.

Eguavoen will be assisted by Christopher Danjuma, head coach of Nasarawa Amazons, alongside a supporting cast that includes Ayisat Yusuf, a former Super Falcons defender; Olatunji Baruwa, former Super Eagles goalkeeper trainer.

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The Falcons will kick off their Olympic qualifying campaign in the second round against Comoros, with both legs taking place at the Remo Stars Stadium in Ikenne-Remo on October 9 and 13.

Nigeria had received a bye into the second round as one of the top-ranked teams, while Comoros qualified after a 30-0 aggregate victory over Sudan.

Falcons must navigate four rounds of two-legged knockout ties to secure of Africa’s two slots for the women’s football event at the Olympics. A win over Comoros will advance the team to the third round in early 2027 to face either DR Congo or Morocco.

Eguavoen will be handling women’s football team for the first time in his managerial career.

His appointment comes a few weeks after Justine Madugu was sacked as Falcons’ head coach alongside his technical crew.

The dismal follows the Falcons failure to qualify for the 2027 women’s World Cup.

The first time the team will miss the World Cup since its inception in 1991.

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Dependable political ally’ — Tinubu celebrates Abdulmumin Jibrin at 50

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President Bola Tinubu has congratulated Abdulmumin Jibrin, the member representing the Kiru/Bebeji federal constituency in the house of representatives, on his 50th birthday.

In a statement issued on Tuesday by Bayo Onanuga, special adviser to the president on information and strategy, Tinubu described Jibrin as a dependable political ally and commended his intellectual rigour, entrepreneurial drive and commitment to public service.

The president praised Jibrin’s pursuit of knowledge, noting that his academic background at the University of Abuja, Ahmadu Bello University, Zaria, SBS Swiss Business School in Switzerland, Bayero University, Kano, and other institutions has shaped his approach to leadership and public service.

Jibrin holds two PhDs in international relations and economics, as well as an MBA from Bayero University. He also attended executive education programmes at Harvard Business School, Oxford and London Business Schools, and INSEAD in France.

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Tinubu also acknowledged Jibrin’s record in public service, including his leadership of the house committees on finance, appropriations, land transport, foreign affairs, and housing and habitat.

According to the president, the lawmaker has contributed to debates and policies on public finance, fiscal policy, infrastructure and housing.

Jibrin also served as executive director at the Federal Housing Authority (FHA).

“Abdulmumin Jibrin represents a generation of Nigerians whose pursuit of knowledge, enterprise, and public service has been driven by a desire to make a difference,” the president said

His journey from scholarship and business into national politics reflects intellectual curiosity, resilience, and a deep commitment to Nigeria.
“At 50, he has much to celebrate, but I am confident that his most consequential contributions to our nation are still ahead.”

The president wished Jibrin renewed strength, good health, wisdom and fulfilment as he marked the milestone.

He also urged him to continue using his experience and knowledge to mentor younger Nigerians, strengthen democratic institutions and contribute to the development of Kano state and Nigeria.

Jibrin rejoined the All Progressive Congress (APC) in 2025 after he was expelled from the New Nigerian People’s Party (NNPP).

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Ibrahim Little Condemns Attack on Journalists, Calls for Government Commitment to Ending Thuggery

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The gubernatorial candidate of the African Democratic Congress (ADC), Alhaji Ibrahim Ali Amin Little, has condemned the recent attack on journalists covering the All Progressives Congress (APC) rally at the Sani Abacha Stadium in Kano on Saturday

Little, in a statement signed by his Executive Assistant, Adnan Mukhtar, described the attack as unfortunate and unacceptable, calling on security agencies to demonstrate greater commitment to ending political thuggery in the state.

“Politicians are guilty of recruiting and using thugs during political rallies, and I believe this is absolutely wrong. Such actions contribute to the destruction of the future of our young people by exposing them to immoral and criminal activities.

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“It is important that we tell ourselves the truth. A government that claims to be fighting thuggery, phone snatching and drug abuse should not be seen sponsoring or encouraging thugs to attend political rallies. This is unfortunate, unacceptable and uncalled for.

“Political rallies should be platforms for presenting ideas, engaging citizens and seeking their support, rather than breeding grounds for violence and criminality.”

Little extended his sympathy to the Nigerian Union of Journalists (NUJ), the affected journalists and all other victims of the incident.

He assured the people of Kano that, if elected, his administration would have zero tolerance for political thuggery and other forms of violence, stressing that his government would prioritise the protection of lives and property and create an environment where journalists and citizens can carry out their legitimate activities without fear.

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