The Central Bank of Nigeria has revoked the licence of VASMUS MFB, one of the microfinance banks operating on the campus of Michael Okpara University of Agriculture, Umudike, MOUAU in Abia State 


Dailyledger.com.ng reports that the CBN last week announced the revocation of licences of  132 MFBs, 4 primary mortgage banks, including the Adamawa Savings and Loans; And Logo Savings and Loans  belonging to Adamawa and Kogi State Governments


Three Finance companies were also affected in the clean up exercise.


The CBN declared that the banks failed to comply with the rules and regulations governing their operations