Friday, March 1, 2024

132 Microfinance Banks Licences Revoked By Central Bank

The Central Bank of Nigeria (CBN) has revoked the operating licences of 132 Microfinance banks, four primary mortgage banks, and three finance companies in the country.

The revocation exercise was disclosed in the official gazette of the Federal Government published on the website of the CBN.

According to the apex bank, the financial institutions “failed to fulfil or comply with the conditions subject to which their licences were granted; or failed to comply with the obligations imposed upon them by the Central Bank of Nigeria in accordance with the provisions of Banks and Other Financial Institutions Act (BOFIA) 2020, Act No. 5.”

The four primary mortgage banks whose licences were revoked are Resort Savings & Loans, Safetrust Mortgage Bank, Adamawa Savings & Loans and Kogi Savings & Loans. The finance companies whose licences were revoked include HHL Invest & Trust Limited, TFS Finance Limited and Treasures & Trust Limited.

Some of the microfinance banks listed include Bluewhales Microfinance Bank, Igangan Microfinance Bank, Mainsail Microfinance Bank, Everest Microfinance Bank, Merit Microfinance Bank, Musharaka Microfinance Bank, Nopov Microfinance Bank, among others.

CBN Governor, Godwin Emefiele, said the licences were revoked in the exercise of the powers conferred on the apex bank under Section 12 of BOFIA 2020, Act No. 5.

See below the full list of the affected banks and financial institutions:

Names Of Institution

  1. ATLAS MICROFINANCE BANK
  2. BLUEWHALES MICROFINANCE BANK
  3. EVEREST MICROFINANCE BANK
  4. IGANGAN MICROFINANCE BANK
  5. MAINSAIL MICROFINANCE BANK
  6. MERIT MICROFINANCE BANK
  7. MINNA MICROFINANCE BANK
  8. MUSHARAKA MICROFINANCE BANK
  9. NOPOV MICROFINANCE BANK
  10. OHON MICROFINANCE BANK
  11. PREMIUM MICROFINANCE BANK
  12. ROYAL MICROFINANCE BANK
  13. STATESMAN MICROFINANCE BANK
  14. SUISSE MICROFINANCE BANK
  15. VIBRANT MICROFINANCE BANK
  16. VIRTUE MICROFINANCE BANK
  17. ZAMARE MICROFINANCE BANK
  18. NORTH CAPITAL MICROFINANCE BANK
  19. CHIDERA MICROFINANCE BANK
  20. EXCELLENT MICROFINANCE BANK
  21. NI’IMA MICROFINANCE BANK
  22. COSMOPOLITAN MICROFINANCE BANK
  23. PROGRESSIVE LINK MICROFINANCE BANK
  24. TRUST ONE (FOMERLY DESMONARCHY)
  25. EKUOMBE MICROFINANCE BANK
  26. FIRST INDEX MICROFINANCE BANK
  27. OLA MICROFINANCE BANK
  28. ULI MICROFINANCE BANK
  29. VERDANT MICROFINANCE BANK
  30. AGULERI MICROFINANCE BANK LIMITED
  31. APEKS MICROFINANCE BANK LIMITED
  32. FAHIMTA MICROFINANCE BANK LIMITED
  33. MANNY MICROFINANCE BANK LIMITED
  34. REALITY MICROFINANCE BANK LIMITED
  35. SURBPOLITAN MICROFINANCE BANK LIMITED
  36. ONYX MICROFINANCE BANK LIMITED
  37. OSINA MICROFINANCE BANK LIMITED
  38. OLOFIN-OWENA MICROFINANCE BANK LIMITED
  39. ZIKADO MICROFINANCE BANK LIMITED
  40. PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED
  41. PENIEL MICROFINANCE BANK LIMITED
  42. TARABA MICROFINANCE BANK LIMITED
  43. BRASS MICROFINANCE BANK LIMITED
  44. MICHIKA MICROFINANCE BANK LIMITED
  45. NDIAGU MICROFINANCE BANK LIMITED
  46. NORTHBRIDGE MICROFINANCE BANK LIMITED
  47. FCT MICROFINANCE BANK LIMITED
  48. OMU-ARAN MICROFINANCE BANK LIMITED
  49. CHERISH MICROFINANCE BANK LIMITED
  50. BIPC MICROFINANCE BANK LIMITED
  51. DANELS GLOBAL MICROFINANCE BANK LIMITED
  52. BANCORP MICROFINANCE BANK LIMITED
  53. MANNA MICROFINANCE BANK LIMITED
  54. MONEYWISE MICROFINANCE BANK LIMITED
  55. MERCURY MICROFINANCE BANK LIMITED
  56. NEW AGE MICROFINANCE BANK LIMITED
  57. PEARL MICROFINANCE BANK LIMITED
  58. ZAWADI MICROFINANCE BANK LIMITED
  59. SEED CAPITAL MICROFINANCE BANK LIMITED
  60. EDUEK MICROFINANCE BANK LIMITED
  61. EKSU MICROFINANCE BANK LIMITED
  62. DAKINGARI MICROFINANCE BANK LIMITED
  63. OGOJA MICROFINANCE BANK LIMITED
  64. NWABOSI MICROFINANCE BANK LIMITED
  65. NUTURE MICROFINANCE BANK LIMITED
  66. ACTIVE POINT MICROFINANCE BANK LIMITED
  67. AMOYE MICROFINANCE BANK LIMITED
  68. BOLUWADURO MICROFINANCE BANK LIMITED
  69. IYEDE MICROFINANCE BANK LIMITED
  70. MAYFAIR MICROFINANCE BANK LIMITED
  71. CALABAR MICROFINANCE BANK LIMITED
  72. IGHOMO MICROFINANCE BANK LIMTED
  73. HACKMAN MICROFINANCE BANK LIMITED
  74. IDESE MICROFINANCE BANK LIMITED
  75. BRIDGEWAY MICROFINANCE BANK LIMITED
  76. GRASSROOT MICROFINANCE BANK LIMITED
  77. SURELIFE MICROFINANCE BANK LIMITED
  78. TIJARAH MICROFINANCE BANK LIMITED
  79. IC-GLOBAL MICROFINANCE BANK LIMITED
  80. EJIAMATU MICROFINANCE BANK LIMITED
  81. BRIYTH COVENANT MICROFINANCE BANK LIMITED
  82. NANKA MICROFINANCE BANK LIMITED
  83. CUB MICROFINANCE BANK LIMITED
  84. BFL MICROFINANCE BANK LIMITED
  85. UMUNNE MICROFINANCE BANK LIMITED
  86. OROKE MICROFINANCE BANK
  87. ALKALERI MICROFINANCE BANK LIMITED
  88. CROWNED EAGLE MICROFINANCE BANK LIMITED
  89. UNIFA MICROFINANCE BANK LIMITED
  90. DADINKOWA MICROFINANCE BANK LIMITED
  91. IFESOWAPO MICROFINANCE BANK LIMITED
  92. OAF MICROFINANCE BANK LIMITED
  93. BAMA MICROFINANCE BANK LIMITED
  94. NGALA MICROFINANCE BANK LIMITED
  95. IWOAMA MICROFINANCE BANK LIMITED
  96. KADA MICROFINANCE BANK LIMITED
  97. KEFFI MICROFINANCE BANK LIMITED
  98. NUT-ENDWELL MICROFINANCE BANK LIMITED
  99. FIRST MULTIPLE MICROFINANCE BANK LIMITED
  100. SBDC MICROFINANCE BANK LIMITED
  101. OROS CAPITAL MICROFINANCE BANK LIMITED
  102. OZIZZA MICROFINANCE BANK LIMITED
  103. PRIMERA CREDIT MICROFINANCE BANK LIMITED
  104. IFEANYICHUKWU MICROFINANCE BANK LIMITED
  105. IHIOMA MICROFINANCE BANK LIMITED
  106. JOSAD MICROFINANCE BANK LIMITED
  107. AKPO MICROFINANCE BANK LIMITED
  108. AIYEPE MICROFINANCE BANK LIMITED
  109. ABC MICROFINANCE BANK LIMITED
  110. STAR MICROFINANCE BANK LIMITED
  111. PURPLE MONEY MICROFINANCE BANK LIMITED
  112. UTUH MICROFINANCE BANK LIMITED
  113. STALLION MICROFINANCE BANK LIMITED
  114. KJL MICROFINANCE BANK LIMITED
  115. CREDIT AFRIQUE MICROFINANCE BANK LIMITED
  116. COWRIES MICROFINANCE BANK LIMITED
  117. LAWEBOD MICROFINANCE BANK LIMITED
  118. MABINAS MICROFINANCE BANK LIMITED
  119. BUSINESS SUPPORT MICROFINANCE BANK LIMITED
  120. OGBE-AHIARA MICROFINANCE BANK LIMITED
  121. OLOFIN MICROFINANCE BANK LIMITED
  122. OBOSI MICROFINANCE BANK LIMITED
  123. FIYINFOLU MICROFINANCE BANK LIMITED
  124. BISHOPGATE MICROFINANCE BANK LIMITED
  125. AWKA MICROFINANCE BANK LIMITED
  126. ZIGATE MICROFINANCE BANK LIMITED
  127. ESAN MICROFINANCE BANK LIMITED
  128. ENUGU-UKWU MICROFINANCE BANK LIMITED
  129. ECHO MICROFINANCE BANK LIMITED
  130. ALLY MICROFINANCE BANK LIMITED
  131. NETWORK MICROFINANCE BANK LIMITED
  132. AWGBU MICROFINANCE BANK LIMITEDA

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