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CBN just revoked the licenses of 46 microfinance banks across Nigeria, effective July 1. Moniepoint, Kuda, and LAPO are NOT among them. They are safe. But the 46 that were shut down served exactly the Nigerians that commercial banks don’t reach; market traders, small business owners, rural communities. CBN’s action is right. Insolvent banks are a risk to depositors. But as usual, the cost falls hardest on the most vulnerable. #cbn #creatorsearchinsights #naija #banking #moneytok
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Using your business bank account as a personal piggy bank is a NO🐷🚫🐷🚫 If you are not ready to be on payroll yet, you need to write yourself a check from your business bank account & deposit it into your personal bank account. You can also do a wire transfer, I personally prefer a paper trail📝📝 If you want to learn how to legally structure your business for asset protection & funding check out my 4 hour Structure My Business Webinar📽📽 If you are ready to protect your assets and make your
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