CBN revokes operating licenses of 139 microfinance, mortgage banks 

The Central Bank of Nigeria (CBN) has revoked the operating licenses of 139 microfinance, primary mortgage banks and finance companies nationwide.

This is contained in the extraordinary Federal Republic of Nigeria Official Gazette of No. 94 published in Lagos, on 23rd May, 2023.

“The following is published as a supplement to this Gazette: Revocation of Operating Licence —Microfinance Banks Licences Revoked”, the document reads.

“Banks and Other Financial Institutions Act (Bofia), 2020, Act No. 5 Revocation Of Operating Licences.

“WHEREAS: The Microfinance Banks, Finance Companies and Primary Mortgage Banks stated in Schedules I, II and III respectively, hereto, have: (a)  ceased to carry on, in Nigeria, the type of business for which their licences were issued for a continuous period of 6 months ; (b)  failed to fulfil or comply with the conditions subject to which their licences were granted; or (c)  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. 

“NOW THEREFORE, I, Godwin Ifeanyi Emefiele, CON, Governor of the Central Bank of Nigeria, in the exercise of the powers conferred on the Central Bank of Nigeria under Section 12 of BOFIA 2020, Act No.5, hereby revoke the licences of the Microfinance Banks, Finance Companies and Primary Mortgage Banks stated in Schedules I, II and III respectively attached hereto. 

“GIVEN under my hand at Abuja this 22nd May, 2023. GODWIN IFEANYI EMEFIELE, CON Governor, Central Bank of Nigeria”.

List of microfinance banks’ licences revoked 

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.

List of finance companies’ licences revoked 

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

List of primary mortgage banks’ licences revoked 

1. Resort Savings & Loans 
2. Safetrust Mortgage Bank 
3. Adamawa Savings & Loans 
4. Kogi Savings & Loans