Central Bank of Nigeria said it did not license “ZULDAL Microfinance Bank.”
In a statement signed by Hakama Sidi Ali (Mrs.), Acting Director, Corporate Communications, dated November 19, 2025, the CBN said has noticed “the activities of an
entity operating under the name Zuldal Microfinance Bank Limited, which reportedly has
branches in Lagos, Abuja, Kaduna, and Kano, and claims to be licensed by the CBN to carry out microfinance banking in Nigeria.”
The CBN said “Zuldal Microfinance Bank Limited is not a licensed Microfinance Bank and has no authorisation from the Central Bank of Nigeria to operate or carry out any form of banking or microfinance business in Nigeria.
“For the avoidance of doubt, Section 2(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020 stipulates that ‘no person shall carry on any banking business in Nigeria except it is a company duly incorporated in Nigeria and holds a valid banking licence issued by the CBN”.
Consequently, the CBN advised Nigerians “to disregard any claims of licensing or approval by Zuldal Microfinance Bank Limited and to refrain from engaging in any financial transactions with the said entity, as such dealings are undertaken at the individual’s own risk.”
It stated that, “The CBN remains committed to safeguarding the financial system and protecting members of the public from unlicensed and fraudulent institutions. A list of all licensed financial institutions in Nigeria is available on the CBN website: www.cbn.gov.ng”.
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.
Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.
He had done many courses in communication, including the EU-BBC Editing Course in 2002.
Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).
He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.
He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.
Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.
