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Get to know Nigerian Microfinance Platform (NMP)

The Nigerian Microfinance Platform (NMP) is a strategic initiative by the Body of Microfinance Banks’ CEOs in Nigeria (BOMBCON), in partnership with the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC). It was established to provide a sustainable and shared technology platform to all licensed Microfinance Banks (MFBs) in Nigeria. NMP aims to lower the operational costs for MFBs, improve their efficiency, and promote financial inclusion by providing services like Core Banking Application (CBA), Agency Banking, and integration with the national payment systems.

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Nigerian Microfinance Platform (NMP)

Nigeria

Founded in

2013 (13 Years)

Founded

Last online: No recent activity

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2017

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A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.