See Full List Of 132 Microfinance Banks Revoked By CBN

The Central Bank of Nigeria 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 on Tuesday.

According to the gazette, the licences of the financial institutions were revoked because they ceased to carry on in Nigeria, the type of business for which their licences were issued for a continuous period of six months.

They were also alleged to have “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.

Meanwhile, 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.
The gazette showed that the CBN Governor, Godwin Emefiele, revoked the licences in the exercise of the powers conferred on the Central Bank of Nigeria under Section 12 of BOFIA 2020, Act No. 5.

See the full list of Microfinance Banks whose licences have been revoked below:

S/N Names of Institution

  1. Atlas Microfinance Bank
  2. Blue whales Microfinance Bank
  1. Everest Microfinance Bank
  2. Igangan Microfinance Bank
  3. Mainsail Microfinance Bank
  1. Merit Microfinance Bank
  2. Minna Microfinance Bank
  1. Musharaka Microfinance Bank
  2. Nopov Microfinance Bank
  3. Ohon Microfinance Bank
  4. Premium Microfinance Bank
  5. Royal Microfinance Bank
  6. Statesman Microfinance Bank
  7. Suisse Microfinance Bank
  8. Vibrant Microfinance Bank
  9. Virtue Microfinance Bank
  10. Zamare Microfinance Bank
  11. North Capital Microfinance Bank.
  1. Chidera Microfinance Bank
  2. Excellent Microfinance Bank
  3. Ni’ima Microfinance Bank
  4. Cosmopolitan Microfinance Bank
  5. Progressive link Microfinance Bank
  6. TrustOne (Formerly Desmonarchy)
  7. Ekuombe Microfinance Bank
  8. First Index Microfinance Bank
  9. Ola Microfinance Bank
  10. Uli Microfinance Bank
  11. Verdant Microfinance Bank
  12. Aguleri Microfinance Bank
  13. Apeks Microfinance Bank
  14. Fahimta Microfinance Bank
  15. Manni Microfinance Bank Limited
  16. Reality Microfinance Bank Limited
  17. Surbpolitan Microfinance Bank Limited
  18. Onyx Microfinance Bank Limited
  19. Osina Microfinance Bank Limited
  20. Olofin-Owena Microfinance Bank Limited
  21. Zikado Microfinance Bank Limited
  22. Prudential Co-operative Microfinance Bank Limited
  23. Peniel Microfinance Bank Limited
  24. Taraba Microfinance Bank Limited
  25. Brass Microfinance Bank Limited
  26. Michika Microfinance Bank Limited
  27. Ndiagu Microfinance Bank Limited
  28. Northbridge Microfinance Bank Limited
  29. FCT Microfinance Bank Limited
  30. Omu-Aran Microfinance Bank Limited
  31. Cherish Microfinance Bank Limited
  32. BIPC Microfinance Bank Limited
  33. Danels Global Microfinance Bank Limited
  34. Bankcorp Microfinance Bank Limited
  35. Manna Microfinance Bank Limited
  36. Moneywise Microfinance Bank Limited
  37. Mercury Microfinance Bank Limited
  38. New age Microfinance Bank Limited
  39. Pearl Microfinance Bank Limited
  40. Zawadi Microfinance Bank Limited
  41. Seed Capital Microfinance Bank Limited
  42. Eduek Microfinance Bank Limited
  43. Eksu Microfinance Bank Limited
  44. Dakingari Microfinance Bank Limited
  45. Ogoja Microfinance Bank Limited
  46. Nwabosi Microfinance Bank Limited
  47. Nuture Microfinance Bank Limited
  48. Active Point Microfinance Bank Limited

B 464

  1. Amoye Microfinance Bank Limited
  2. Boluwaduro Microfinance Bank Limited
  3. Iyede Microfinance Bank Limited
  4. Mayfair Microfinance Bank Limited
  5. Calabar Microfinance Bank Limited
  6. Ighomo Microfinance Bank Limited
  7. Hackman Microfinance Bank Limited
  8. Idese Microfinance Bank Limited
  9. Bridgeway Microfinance Bank Limited
  10. Grassroot Microfinance Bank Limited
  11. Sure life Microfinance Bank Limited
  12. Tijarah Microfinance Bank Limited
  13. IC-Global Microfinance Bank Limited
  14. Ejiamatu Microfinance Bank Limited
  15. Briyth Covenant Microfinance Bank Limited
  16. Nanka Microfinance Bank Limited
  17. Cub Microfinance Bank Limited
  18. BFL Microfinance Bank Limited
  19. Umunne Microfinance Bank Limited
  20. Oroke Microfinance Bank Limited
  21. Alkaleri Microfinance Bank Limited
  22. Crowned Eagle Microfinance Bank Limited
  23. UNIFA Microfinance Bank Limited
  24. Dadinkowa Microfinance Bank Limited
  25. Ifesowapo Microfinance Bank Limited
  26. OAF Microfinance Bank Limited
  27. Bama Microfinance Bank Limited
  28. Ngala Microfinance Bank Limited
  29. Iwoama Microfinance Bank Limited
  30. Kada Microfinance Bank Limited
  31. Keffi Microfinance Bank Limited
  32. Nut-Endwell Microfinance Bank Limited
  33. First Multipurpose Microfinance Bank Limited
  34. SBDC Microfinance Bank Limited
  35. Oros Capital Microfinance Bank Limited
  36. Ozizza Microfinance Bank Limited
  37. Primera Credit Microfinance Bank Limited
  38. Ifeanyichukwu Microfinance Bank Limited
  39. Ihioma Microfinance Bank Limited
  40. Josad Microfinance Bank Limited
  41. Akpo Microfinance Bank Limited
  42. Aiyepe Microfinance Bank Limited
  43. ABC Microfinance Bank Limited
  44. Star Microfinance Bank Limited
  45. Purple Money Microfinance Bank Limited
  46. Utuh Microfinance Bank Limited
  47. Stallion Microfinance Bank Limited
  48. KJL Microfinance Bank Limited
  49. Credit Afrique Microfinance Bank Limited
  50. Cowries Microfinance Bank Limited
  51. Lawebod Microfinance Bank Limited
  52. Mabinas Microfinance Bank Limited
  53. Business Support Microfinance Bank Limited
  54. Ogbe-Ahiara Microfinance Bank Limited
  55. Olofin Microfinance Bank Limited
  56. Obosi Microfinance Bank Limited
  57. Fiyinfolu Microfinance Bank Limited
  58. Bishopgate Microfinance Bank Limited
  59. Awka Microfinance Bank Limited

B 465

B 466

  1. Zigate Microfinance Bank Limited
  2. Esan Microfinance Bank Limited
  3. Enugu-Ukwu Microfinance Bank Limited
  4. Echo Microfinance Bank Limited
  5. Ally Microfinance Bank Limited
  6. Network Microfinance Bank Limited
  7. Awgbu Microfinance Bank Limited.



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