CBN Revokes Licences of 42 Microfinance Banks (Full List)




Whatsapp News

Forty-two microfinance banks in Nigeria have lost their licences.

This comes after the microfinance banks were iquidated by the Central Bank of Nigeria.

The Nigeria Deposit Insurance Corporation, NDIC, disclosed this in a , saying it would promptly commence the verification of claims of depositors of the affected banks from Monday, December 21.

The NDIC also said it had begun the process of paying insured depositors of the liquidated banks across the country.

The affected banks include Hedgeworth MFB, Utako, ; Future Growth MFB, Utako, ; Bagwai MFB, Bagwai LGA, Kano; Ere City MFB, Oriade LGA, ; Cafon MFB, Garki II, ; Akcofed MFB, Uyo, Akwa-Ibom ; Gufax MFB, Uyo, Akwa Ibom , Partnership MFB, Onitsha, Anambra State; ICB MFB, Ilah, ; Onima MFB, Ezinihite Mbaise LGA, Imo ; and Hometrust (NATIONS) MFB, Nkwere, Imo .

Others are Ringim MFB, Ringim, Jigawa ; Bigthana MFB, Ali Akilu , ; Rogo MFB, Rogo LGA, Kano State; Makoda MFB, Makoda LGA, Kano; Takai MFB, Takai LGA, Kano State; Bebeji MFB, Bebeji L.G.A., Kano State; Ajingi MFB, Ajingi LGA,Kano State; Garko MFB, Garko, Kano; Kangiwa MFB, Kangiwa LGA, Kebbi State; Augie MFB, Augie LGA, Kebbi State; Mopa MFB, Mopa, State; Solid Base MFB, Ijumu LGA, State; Ultimate Benefit MFB, Lokoja, State; Ovidi MFB, Okene, Kogi State; Kirfi MFB, Kirfi LGA, Bauchi; Credit Express MFB, Kakawa Street, Lagos; King Solomon MFB, Western Avenue, Iponri, Lagos; Riggs MFB, Victoria Island, Lagos; Billionaire Blue Bricks MFB, Ajah, Lagos; Susu MFB, Yaba, Lagos; Wealthstream MFB, Apapa, Lagos; Aguda Titun MFB, Ogba, Lagos and Sapphire MFB, Uyo, Akwa Ibom State.

The rest are Metro MFB, Ogba, Ikeja, Lagos, Mountain Top MFB, Fair Complex, Lagos; Unyogba MFB, Ofu LGA, State; Wapo MFB, Okene, State; Ibogun MFB, Ifo LGA, State; Korede MFB, Igbotako, Ondo State; Ahetou MFB, Ogba/Egbema/Ndoni LGA, and Fufore MFB, Yola, Adamawa State.

The NDIC said, “This is inform the depositors, creditors, shareholders and the general that the operating licences of the under listed 42 Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN) effective from 12th of November, 2020.

“The Nigeria Deposit Insurance Corporation (NDIC), the official liquidator of the banks whose licences were recently revoked, is in the process of closing the listed banks and paying their insured depositors.

“We therefore request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December, 2020 till Thursday, 24th December, 2020.”

The added that for further clarification or any assistance, eligible depositors should contact the representatives of the director, Claims Resolution Department of the NDIC in any of the centres/zonal offices in , Lagos, Enugu, Benin, Kano, Ilorin, Bauchi, Sokoto, Yola and Port Harcourt.

Source