 The Central Bank of Nigeria, CBN, has pegged maximum load limits for microfinance banks, MFBS, at one million naira per transaction. The Apex Bank gave this directive in a circular to all MFBS titles, cessation of non-permissible activities by MFBS. The MFBS operators were also strictly prohibited from engaging in foreign exchange transactions. The CBN further directed the MFBS to primarily focus on providing financial services to retail or micro-clients, micro-credit and retail transactions not exceeding 500,000 naira per transaction for tier 2 units MFBS and one million naira for other categories. Also, micro-credit facilities shall constitute a minimum of 80% of total loan portfolios for MFBS. The Apex Bank also won MFBS to desist from offering non-permissible activities, especially foreign exchange and wholesale banking transactions.