CBN Warns Public: Zuldal Microfinance Bank Unlicensed in Nigeria

The Central Bank of Nigeria (CBN) has issued a warning to the public regarding Zuldal Microfinance Bank, stating that the bank is not licensed to operate in Nigeria. Zuldal Microfinance Bank has been falsely claiming to hold a valid microfinance bank license, leading the CBN to clarify that the bank is neither licensed nor authorized to conduct microfinance banking business in Nigeria.

The CBN emphasized that engaging in transactions with Zuldal Microfinance Bank is at one's own risk and urged Nigerians to verify the authenticity of financial institutions before conducting any business. The CBN reaffirmed its commitment to safeguarding the financial system and protecting the public from fraudulent and unregulated financial institutions.