Source: Next.

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LAGOS, October 30 – The Nigeria Deposit Insurance Corporation is overwhelmed by the number of microfinance banks in the country; a situation which has made the supervision of the subsector difficult, Jacob Afolabi, a deputy director, at the corporation has said.

Mr. Afolabi, who made the disclosure on Thursday in Kaduna, said unlike the regular deposit money banks, the NDIC does not know the location of all the existing microfinance banks, a situation that has made monitoring and supervision difficult….

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