On 18 March 2019, the Central Bank of Nigeria (“CBN”) published a circular dated 07 March 2019 to all microfinance banks in Nigeria (“MfBs”) titled, “Review of Minimum Capital Requirement for Microfinance Banks in Nigeria’’ (“Revised Circular”). The Revised Circular seeks to revise the minimum capital requirement for all MfBs on which it had earlier issued a circular on 22 October 2018.