By Godfrey AKON
The Central Bank of Nigeria, CBN, has issued a disclaimer, stating that “ZULDAL Microfinance Bank” is not licensed by the apex bank.
It cautioned the public to desist from conducting any financial dealings with Zuldal Microfinance Bank, declaring that the entity is not licensed to operate in the country.
CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, in a statement, revealed that the unregistered institution has been parading branches in Lagos, Abuja, Kaduna and Kano while falsely claiming to hold a CBN licence.
The Bank stressed unequivocally that Zuldal Microfinance Bank Limited “is not a licensed Microfinance Bank and has no authorisation from the Central Bank of Nigeria to operate or engage in any form of banking or microfinance business in Nigeria.”
Citing Section 2(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020, the CBN reminded the public that only companies duly incorporated in Nigeria and issued a valid banking licence by the apex bank are permitted to offer banking services.
The regulator urged Nigerians to disregard any claims of legitimacy by the entity and avoid all dealings with it, warning that anyone who chooses to transact with Zuldal Microfinance Bank does so at their own risk.
While reaffirming its commitment to safeguarding the financial system, the CBN said it remains vigilant against unlicensed and fraudulent operators.
It added that the full list of authorised financial institutions in Nigeria can be verified on its website.
