An emergency meeting was conducted by the Central Bank of Nigeria (CBN) yesterday with operator of finance houses in other to table out how to move the industry forward.
[dropcap type=”1″]T[/dropcap]he last deadline which scheduled on December 31 for regular operators to either meet the new N100 million capital base for the subsector or suspend operation, after shifting the initial deadline from September 30.
[quote_center]“The N100 million minimum capital base looks small, but surprisingly, not many operators have been able to get it. I see many of them closing shop after the deadline lapses,” [/quote_center]the source said.
It was learnt that a lot of operator are yet to meet the requirement to go on with their business and this may lead them out of line.
A source at the Financial Houses Association of Nigeria (FHAN), an umbrella body for the sector, disclosed that many of the operators had not secured the funds required to stay afloat.
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