CBN Declares Zuldal Microfinance Bank Illegal in Nigeria

The Central Bank of Nigeria (CBN) has officially designated Zuldal Microfinance Bank Limited as an unauthorized financial institution, citing a lack of licensing and regulatory compliance. Operating across Lagos, Abuja, Kaduna, and Kano, Zuldal’s activities have been declared illegal after the CBN confirmed it lacks proper authorization to operate within Nigeria’s financial system.