Nigeria: Full List – CBN Revokes Licences of 139 Microfinance Banks, Others

The Central Bank of Nigeria (CBN) has revoked the licences of 139 microfinance banks in the country, as well as four primary mortgage banks and three finance companies.

This was disclosed in the official gazette of the Federal Government, which was 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.

The official gazette for the last batch stated that the banks have “Either remained inactive, insolvent, failed to render returns, closed shop, or ceased to carry on the type of banking business for which they were licensed for more than six months in contravention of the Banks and other Financial Institutions Act (BOFIA), 2020 and the Revised Regulatory and Supervisory Guidelines for Microfinance Banks in Nigeria.”

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.

Below is the list of the affected banks:

MICROFINANCE BANKS LICENCES REVOKED

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 Fomerly 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 Cooperative 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

Danels 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 Limited

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