CBN shuts Goldman Microfinance Bank, gives four reasons

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The Central Bank of Nigeria has revoked the operating licence of Goldman Microfinance Bank Limited. The bank is now closed.

The CBN announced the decision in a statement on Tuesday, June 30, 2026. Hakama Sidi-Ali, the Acting Director of Corporate Communications, signed the statement.

The revocation took effect from May 21, 2026. CBN Governor Olayemi Cardoso approved it under Section 12 of the Banks and Other Financial Institutions Act, 2020.

The CBN gave four reasons for the action.

First, the bank went into liquidation and started voluntary winding up proceedings. Second, its assets are no longer enough to cover its debts. Third, the bank is critically undercapitalised. Its capital adequacy ratio fell far below the CBN minimum. Fourth, the bank failed to comply with Sections 9 and 13 of BOFIA 2020.

The apex bank said it acted to protect depositors and keep the financial system stable. This is part of its ongoing effort to maintain a strong banking sector.

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