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CBN revokes 132 microfinance banks’ licences (Full List)

Mr Godwin Emefiele

CBN Governor Godwin Emefiele

The Central Bank of Nigeria (CBN) has withdrawn the operational licences of 132 microfinance banks, four primary mortgage banks, and three financing firms in the country.

It was reported in the Federal Government’s official gazette, which was published on the CBN’s website on Tuesday.

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 the 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:

S/N  Name Of Institution

  • ATLAS MICROFINANCE BANK
  • BLUEWHALES MICROFINANCE BANK
  • EVEREST MICROFINANCE BANK
  • IGANGAN MICROFINANCE BANK
  •  MAINSAIL MICROFINANCE BANK
  •  MERIT MICROFINANCE BANK
  • MINNA MICROFINANCE BANK
  • MUSHARAKA MICROFINANCE BANK
  •  NOPOV MICROFINANCE BANK
  •  OHON MICROFINANCE BANK
  •  PREMIUM MICROFINANCE BANK
  •  ROYAL MICROFINANCE BANK
  •  STATESMAN MICROFINANCE BANK
  •  SUISSE MICROFINANCE BANK
  •  VIBRANT MICROFINANCE BANK
  •  VIRTUE MICROFINANCE BANK
  • ZAMARE MICROFINANCE BANK
  • NORTH CAPITAL MICROFINANCE BANK
  • CHIDERA MICROFINANCE BANK
  • EXCELLENT MICROFINANCE BANK
  • NI’IMA MICROFINANCE BANK
  • COSMOPOLITAN MICROFINANCE BANK
  • PROGRESSIVE LINK MICROFINANCE BANK
  • TRUST ONE (FORMERLY DESMONARCHY)
  • EKUOMBE MICROFINANCE BANK
  • FIRST INDEX MICROFINANCE BANK
  • OLA MICROFINANCE BANK
  • ULI MICROFINANCE BANK
  • VERDANT MICROFINANCE BANK
  • AGULERI MICROFINANCE BANK LIMITED
  •  APEKS MICROFINANCE BANK LIMITED
  • FAHIMTA MICROFINANCE BANK LIMITED
  • MANNY MICROFINANCE BANK LIMITED
  • REALITY MICROFINANCE BANK LIMITED
  • SURBPOLITAN MICROFINANCE BANK LIMITED
  • ONYX MICROFINANCE BANK LIMITED
  • OSINA MICROFINANCE BANK LIMITED
  • OLOFIN-OWENA MICROFINANCE BANK LIMITED
  • ZIKADO MICROFINANCE BANK LIMITED
  • PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED
  • PENIEL MICROFINANCE BANK LIMITED
  • TARABA MICROFINANCE BANK LIMITED
  • BRASS MICROFINANCE BANK LIMITED
  • MICHIKA MICROFINANCE BANK LIMITED
  • NDIAGU MICROFINANCE BANK LIMITED
  • NORTHBRIDGE MICROFINANCE BANK LIMITED
  • FCT MICROFINANCE BANK LIMITED
  • OMU-ARAN MICROFINANCE BANK LIMITED
  • CHERISH MICROFINANCE BANK LIMITED
  • BIPC MICROFINANCE BANK LIMITED
  • DANIELS GLOBAL MICROFINANCE BANK LIMITED
  • BANCORP MICROFINANCE BANK LIMITED
  • MANNA MICROFINANCE BANK LIMITED
  • MONEYWISE MICROFINANCE BANK LIMITED
  • MERCURY MICROFINANCE BANK LIMITED
  • NEW AGE MICROFINANCE BANK LIMITED
  • PEARL MICROFINANCE BANK LIMITED
  • ZAWADI MICROFINANCE BANK LIMITED
  • SEED CAPITAL MICROFINANCE BANK LIMITED
  • EDUEK MICROFINANCE BANK LIMITED
  • EKSU MICROFINANCE BANK LIMITED
  • DAKINGARI MICROFINANCE BANK LIMITED
  • OGOJA MICROFINANCE BANK LIMITED
  • NWABOSI MICROFINANCE BANK LIMITED
  • NUTURE MICROFINANCE BANK LIMITED
  • ACTIVE POINT MICROFINANCE BANK LIMITED
  • AMOYE MICROFINANCE BANK LIMITED
  • BOLUWADURO MICROFINANCE BANK LIMITED
  • IYEDE MICROFINANCE BANK LIMITED
  • MAYFAIR MICROFINANCE BANK LIMITED
  • CALABAR MICROFINANCE BANK LIMITED
  • IGHOMO MICROFINANCE BANK LIMTED
  • HACKMAN MICROFINANCE BANK LIMITED
  • IDESE MICROFINANCE BANK LIMITED
  • BRIDGEWAY MICROFINANCE BANK LIMITED
  • GRASSROOT MICROFINANCE BANK LIMITED
  • SURELIFE MICROFINANCE BANK LIMITED
  • TIJARAH MICROFINANCE BANK LIMITED
  • IC-GLOBAL MICROFINANCE BANK LIMITED
  • EJIAMATU MICROFINANCE BANK LIMITED
  • BRIYTH COVENANT MICROFINANCE BANK LIMITED
  • NANKA MICROFINANCE BANK LIMITED
  • CUB MICROFINANCE BANK LIMITED
  • BFL MICROFINANCE BANK LIMITED
  • UMUNNE MICROFINANCE BANK LIMITED
  • OROKE MICROFINANCE BANK
  • ALKALERI MICROFINANCE BANK LIMITED
  • CROWNED EAGLE MICROFINANCE BANK LIMITED
  • UNIFA MICROFINANCE BANK LIMITED
  • DADINKOWA MICROFINANCE BANK LIMITED
  • IFESOWAPO MICROFINANCE BANK LIMITED
  • OAF MICROFINANCE BANK LIMITED
  • BAMA MICROFINANCE BANK LIMITED
  • NGALA MICROFINANCE BANK LIMITED
  • IWOAMA MICROFINANCE BANK LIMITED
  • KADA MICROFINANCE BANK LIMITED
  • KEFFI MICROFINANCE BANK LIMITED
  • NUT-ENDWELL MICROFINANCE BANK LIMITED
  • FIRST MULTIPLE MICROFINANCE BANK LIMITED
  • SBDC MICROFINANCE BANK LIMITED
  • OROS CAPITAL MICROFINANCE BANK LIMITED
  • OZIZZA MICROFINANCE BANK LIMITED
  • PRIMERA CREDIT MICROFINANCE BANK LIMITED
  • IFEANYICHUKWU MICROFINANCE BANK LIMITED
  • IHIOMA MICROFINANCE BANK LIMITED
  • JOSAD MICROFINANCE BANK LIMITED
  • AKPO MICROFINANCE BANK LIMITED
  • AIYEPE MICROFINANCE BANK LIMITED
  • ABC MICROFINANCE BANK LIMITED
  • STAR MICROFINANCE BANK LIMITED
  • PURPLE MONEY MICROFINANCE BANK LIMITED
  • UTUH MICROFINANCE BANK LIMITED
  • STALLION MICROFINANCE BANK LIMITED
  • KJL MICROFINANCE BANK LIMITED
  • CREDIT AFRIQUE MICROFINANCE BANK LIMITED
  • COWRIES MICROFINANCE BANK LIMITED
  • LAWEBOD MICROFINANCE BANK LIMITED
  • MABINAS MICROFINANCE BANK LIMITED
  • BUSINESS SUPPORT MICROFINANCE BANK LIMITED
  • OGBE-AHIARA MICROFINANCE BANK LIMITED
  • OLOFIN MICROFINANCE BANK LIMITED
  • OBOSI MICROFINANCE BANK LIMITED
  • FIYINFOLU MICROFINANCE BANK LIMITED
  • BISHOPGATE MICROFINANCE BANK LIMITED
  • AWKA MICROFINANCE BANK LIMITED
  • ZIGATE MICROFINANCE BANK LIMITED
  • ESAN MICROFINANCE BANK LIMITED
  • ENUGU-UKWU MICROFINANCE BANK LIMITED
  • ECHO MICROFINANCE BANK LIMITED
  • ALLY MICROFINANCE BANK LIMITED
  • NETWORK MICROFINANCE BANK LIMITED
  • AWGBU MICROFINANCE BANK LIMITED

LIST OF FINANCE COMPANIES LICENCES REVOKED

S/N        Name Of Institution

      1. HHL Invest & Trust Limited
      2. TFS Finance Limited
      3. Treasures & Trust Limited

LIST OF PRIMARY MORTGAGE BANKS LICENCES REVOKED

S/N        Name Of Institution

      1. RESORT SAVINGS & LOANS
      2. SAFETRUST MORTGAGE BANK
      3. ADAMAWA SAVINGS & LOANS
      4. KOGI SAVINGS & LOANS
First Bank

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