CBN Revokes 179 Micro Finance Banks, 4 Mortgage Banks Licences

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Central Bank of Nigeria (CBN) has withdrawn a total of 179 microfinance banks, three finance companies and four primary mortgage bank operating licences, it said in a statement posted on its website.

In an official gazette of the Federal Government of Nigeria, CBN said the microfinance banks, finance companies and primary mortgage banks stated in Schedules I, II and III respectively have ceased to carry on operations in Nigeria for the type of business their licences were issued for 6 months.

The banking regulator said some of the MfBs, Mortgage and Finance Companies failed to fulfil or comply with the conditions subject to which their licences were granted.

It added that some of the affected operators 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.

In the exercise of the powers conferred on the Governor of the Central Bank of Nigeria under Section 12 of BOFIA Act 2020, Godwin Emefiele said he revoked the affected financial institution’s licences as a result.

The affected mortgage bank includes Resort Savings & Loans, Safetrust Mortgage Bank, Adamawa Savings & Loans and Kogi Savings & Loans. It also cancels the licences of HHL Invest & Trust Limited, TFS Finance Limited and Treasures & Trust Limit.

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 LIMITED

2ND List Includes

1.EVANGEL MICROFINANCE BANK

2. DOMINION MICROFINANCE BANK

3. ANYA MICROFINANCE BANK

4. AKWENGWU MICROFINANCE BANK

5. FADAMA FARMERS MICROFINANCE BANK

6. SAL-FOL MICROFINANCE BANK

7. MAUTECH MICROFINANCE BANK

8. WASE MICROFINANCE BANK

9. SMARTMICRO MICROFINANCE BANK

10. AMBA MICROFINANCE BANK

11. BRIDGE HOUSE MICROFINANCE BANK

12. MONEYWELL MICROFINANCE BANK

13. OTUKPO MICROFINANCE BANK

14. OLOGBON MICROFINANCE BANK

15. BESTWAY MICROFINANCE BANK

16. BIYAMA MICROFINANCE BANK

17. GREENLAND MICROFINANCE BANK

18. FASILDAPO MICROFINANCE BANK

19. SUNRISE MICROFINANCE BANK

20. JOINT FARMERS MICROFINANCE BANK

21. PROLIFIC MICROFINANCE BANK

22. HALMOND MICROFINANCE BANK

23. AJIKOBI MICROFINANCE BANK

24. KOGI MICROFINANCE BANK

25. EYOWO MICROFINANCE BANK

26. ARISE MICROFINANCE BANK

27. ISI-AKU MICROFINANCE BANK

28. BMAZAZHIN MICROFINANCE BANK

29. INI MICROFINANCE BANK

30. NARICT MICROFINANCE BANK B 459

31. INTERLAND MICROFINANCE BANK

32. EHOR MICROFINANCE BANK

33. BIBAJINRE MICROFINANCE BANK

34. GOLDEN FUNDS MICROFINANCE BANK

35. GWADABAWA MICROFINANCE BANK

36. IBA MICROFINANCE BANK

37. EDUMANA MICROFINANCE BANK

38. WEST-END MICROFINANCE BANK

39. UMEJEI MICROFINANCE BANK

40. MOUAU VASMUCS MICROFINANCE BANK

41. JAMIS MICROFINANCE BANK

42. NEW WORLD MICROFINANCE BANK

43. ABESTONE MICROFINANCE BANK

44. NSEHE MICROFINANCE BANK

45. OSOGBO MICROFINANCE BANK

46. CROSSOVER MICROFINANCE BANK

47. DANGIZHI MICROFINANCE BANk.

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