CBN revokes lincences of 42 Micro Finance Banks [See List]

Nigeria’s apex bank, the Central Bank has withdrawn the operating licences of 103 microfinance banks in the country.

The list of the affected micro Finance institutions which was posted by the Nigeria Deposit Insurance Corporation on Friday on its websites drew attention of the general public.

It stated, “This is to inform the depositors, creditors, shareholders and the general public that the operating licences of the under listed 42 microfinance banks have been revoked by the Central Bank of Nigeria effective 12th November, 2020.

“The Nigeria Deposit Insurance Corporation, the official liquidator of the banks whose licences were recently revoked, is in the process of closing the listed banks and pay their insured depositors.

“We therefore request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December, 2020 till Thursday, 24th December, 2020.”

List of Microfinance banks are:

S/N NAME OF MICROFINANCE BANK LOCATION

1 AFAM MICROFINANCE BANK RIVERS
2 AGBELO MICROFINANCE BANK EDO
3 AJASE MICROFINANCE BANK KWARA
4 AKPO-COE MICROFINANCE BANK RIVERS
5 ALLIANCE MICROFINANCE BANK ABUJA
6 ALLOVER MICROFINANCE BANK LAGOS
7 ALSTAR MICROFINANCE BANK LAGOS
8 AMAZING GRACE MICROFINANCE BANK OGUN
9 APEX GOLDEN MICROFINANCE BANK LAGOS
10 ASABARI MICROFINANCE BANK OYO
11 ASCENT MICROFINANCE BANK OGUN
12 ATTANWAMBIRI MICROFINANCE BANK IMO
13 BEULAH MICROFINANCE BANK LAGOS
14 BIRAIDU MICROFINANCE BANK KOGI
15 BIRNIN KUDU MICROFINANCE BANK JIGAWA
16 BONNY MICROFINANCE BANK RIVERS
17 BROADBASE MICROFINANCE BANK DELTA
18 CAPITAL BASE MICROFINANCE BANK ADAMAWA
19 CASHJET MICROFINANCE BANK DELTA
20 CHAT MICROFINANCE BANK KADUNA
21 CLASSIC MICROFINANCE BANK OGUN
22 COMMON BENEFIT MICROFINANCE BANK LAGOS
23 CUTTING EDGE MICROFINANCE BANK EDO
24 DIVINE MICROFINANCE BANK RIVERS
25 DOGON DAJI MICROFINANCE BANK SOKOTO
26 DYNAMIC MICROFINANCE BANK LAGOS
27 EBEM-OHA MICROFINANCE BANK ABIA
27 EBENATOR MICROFINANCE BANK IMO
29 ETITI MICROFINANCE BANK IMO
30 EVO MICROFINANCE BANK RIVERS
31 EZIMUZO MICROFINANCE BANK ANAMBRA
32 FESTAC 77 MICROFINANCE BANK LAGOS
33 FREEDOM MICROFINANCE BANK KANO
34 GITICOM MICROFINANCE BANK RIVERS
35 HAZONWAO MICROFINANCE BANK LAGOS
36 HILLTOP MICROFINANCE BANK EKITI
37 HOMELAND MICROFINANCE BANK BAYELSA
38 IC MICROFINANCE BANK LAGOS
39 IDEAL TRUST MICROFINANCE BANK ANAMBRA
40 IFONYIN MICROFINANCE BANK OGUN
41 IHITTE MICROFINANCE BANK IMO
42 IKWUANO MICROFINANCE BANK ABIA
43 INTEGRATED MICROFINANCE BANK LAGOS
44 IPE MICROFINANCE BANK ONDO
45 JEGA MICROFINANCE BANK KEBBI
46 KBS MICROFINANCE BANK LAGOS
47 KERANA MICROFINANCE BANK PLATEAU
48 KFC MICROFINANCE BANK LAGOS
49 MARMARA MICROFINANCE BANK TARABA
50 MIC MICROFINANCE BANK LAGOS
51 MOORGATE MICROFINANCE BANK LAGOS
52 MUNICIPAL MICROFINANCE BANK ABUJA
53 NGAS MICROFINANCE BANK PLATEAU
54 OLOMI MICROFINANCE BANK OYO
55 OLOMOYOYO MICROFINANCE BANK OYO
56 OMNI MICROFINANCE BANK LAGOS
57 OPENGATE MICROFINANCE BANK ABUJA
58 OWENA MICROFINANCE BANK OSUN
59 PET MICROFINANCE BANK RIVERS
60 PRIME MICROFINANCE BANK A/IBOM
61 SAMINAKA MICROFINANCE BANK KADUNA
62 TRINITY MICROFINANCE BANK A/IBOM
63 TRISTAR MICROFINANCE BANK ENUGU
64 UDEZUKA MICROFINANCE BANK ANAMBRA
65 UFUMA MICROFINANCE BANK ANAMBRA
66 UMUNZE MICROFINANCE BANK ANAMBRA
67 URUALLA MICROFINANCE BANK IMO
68 UTUGWANG MICROFINANCE BANK CROSS RIVER
69 ACME TRUST MICROFINANCE BANK LAGOS
70 ADIF MICROFINANCE BANK LAGOS
71 ASAGA-UKWU MICROFINANCE BANK ABIA
72 BRISTOL MICROFINANCE BANK LAGOS
73 CENTURY MICROFINANCE BANK LAGOS
74 CIRCULAR MICROFINANCE BANK EDO
75 CUBIC MICROFINANCE BANK EDO
76 DANMUSA MICROFINANCE BANK KATSINA
77 EKWEMA MICROFINANCE BANK IMO
78 EMBRACE MICROFINANCE BANK BAYELSA
79 EMEVOR MICROFINANCE BANK DELTA
80 FUND EXPRESS MICROFINANCE BANK LAGOS
81 GALAXY MICROFINANCE BANK LAGOS
82 GAMJI MICROFINANCE BANK KEBBI
83 HARBOUR MICROFINANCE BANK ANAMBRA
84 IMPACT MICROFINANCE BANK LAGOS
85 IMPERIAL MICROFINANCE BANK LAGOS
86 INVESTMENT MICROFINANCE BANK ABIA
87 ITELE MICROFINANCE BANK OGUN
88 LALUPON MICROFINANCE BANK OYO
89 MCB MICROFINANCE BANK LAGOS
90 MILESTONE MICROFINANCE BANK LAGOS
91 MUSTASONS MICROFINANCE BANK LAGOS
92 NEW GATE MICROFINANCE BANK LAGOS
93 NEXUS MICROFINANCE BANK NIGER
94 OBIOMA MICROFINANCE BANK ABIA
95 OWHOWHA MICROFINANCE BANK DELTA
96 PRIMATE MICROFINANCE BANK LAGOS
97 SHIMAZ MICROFINANCE BANK OSUN
98 SOUTH WEST IKOYI MICROFINANCE BANK LAGOS
99 STANDEX MICROFINANCE BANK ANAMBRA
100 TOUCHSTONE MICROFINANCE BANK LAGOS
101 UNIQUE MICROFINANCE BANK LAGOS
102 VENTURE SUPPORT MICROFINANCE BANK LAGOS
103 WIZETRADE MICROFINANCE BANK LAGOS

The NDIC (Nigeria Deposit Insurance Corporation) is an independent agency of the Federal Government of Nigeria.

The purpose of the deposit insurance system is to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution can no longer repay their deposits, thereby helping to maintain financial system stability.