The Central Bank of Nigeria (CBN) has unveiled a new online platform called the CBN Licensing, Approval and Other Requests Portal (CBN LARP) for the submission of microfinance bank (MfB) licence applications.
In a statement, CBN’s Director of Corporate Communications, Dr. Isa AbdulMumin, said recently that the platform is designed to replace the manual process.
According to him the benefits of the new system include enhanced communication, time savings, simplified process, and robust security measures.
He disclosed that MfB licence applicants must submit both hard copy and online applications in a parallel run, and from December 31, manual submissions of hardcopy MFB licence applications will no longer be required, AbdulMumin maintained.
Going further he stressed that prospective MfB applicants should “log on to www.larp.cbn.gov.ng to submit their MfB licence applications”. The CBN he said will continue to accept manual applications for all other license types until further notice.
