At the fourth Microfinance Conference in Abuja, Nigeria, the governor of the Central Bank of Nigeria (CBN), Mr Mallam Sanusi Lamido Sanusi, announced that all microfinance bank CEOs would be required to pass a CBN administered exam in order to continue managing their banks. A training program will be held during the first quarter of this year, with certificates being issued at the end of the exercise. Any bank that does not comply with the rules will have its license withdrawn.

Mr Sanusi also announced that CBN plans to work with the United Nations to conduct an audit of microfinance banks in the country.

By: Stefanie Rubin, Research Assistant

Source Article: NBF News: CBN to Set Exams for Microfinance Banks’ CEOs: http://www.nigerianbestforum.com/blog/?p=34059

MicroCapital Universe: Central Bank of Nigeria (CBN) http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Central+Bank+of+Nigeria+%28CBN%29