CBN revokes licence of 42 microfinance banks

The Central Bank of Nigeria (CBN) has revoked the operating licences of 42 microfinance banks (MFBs).

The Nigeria Deposit Insurance Corporation  (NDIC) on Friday made this known in a statement on its website.

“This is to inform the depositors, creditors, shareholders and the general public that the operating licenses of the under listed Forty-Two (42) Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN) effective 12th November, 2020,” the statement read.

The corporation said it would resume verifying claims of depositors of the affected banks from December 21.

“The Nigeria Deposit Insurance Corporation (NDIC), the official Liquidator of the banks whose licenses were recently revoked, is in the process of closing the listed banks and pay their insured Depositors,” the statement read.

“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 affected banks are:

1. Hedgeworth MFB, Utako, Abuja;

2. Future Growth MFB, Utako, Abuja;

3. Bagwai MFB, Bagwai LGA, Kano;

4. Ere City MFB, Oriade LGA, Osun State;

5. Cafon MFB, Garki II, Abuja;

6. Akcofed MFB, Uyo, Akwa-Ibom State;

7. Gufax MFB, Uyo, Akwa Ibom State;

8. Partnership MFB, Onitsha, Anambra State;

9. ICB MFB, Ilah, Delta State;

10. Onima MFB, Ezinihite Mbaise LGA, Imo State;

11. Hometrust (NATIONS) MFB, Nkwere, Imo State;

12. Ringim MFB, Ringim, Jigawa State;

13. Bigthana MFB, Ali Akilu Road, Kaduna;

14. Rogo MFB, Rogo LGA, Kano State;

15. Makoda MFB, Makoda LGA, Kano;

16. Takai MFB, Takai LGA, Kano State;

17. Bebeji MFB, Bebeji L.G.A., Kano State;

18. Ajingi MFB, Ajingi LGA, Kano State;

19. Garko MFB, Garko, Kano;

20. Kangiwa MFB, Kangiwa LGA, Kebbi State;

21. Augie MFB, Augie LGA, Kebbi State;

22. Mopa MFB, Mopa, Kogi State;

23. Solid Base MFB, Ijumu LGA, Kogi State;

24. Ultimate Benefit MFB, Lokoja, Kogi State;

25. Ovidi MFB, Okene, Kogi State;

26. Kirfi MFB, Kirfi LGA, Bauchi;

27. Credit Express MFB, Kakawa Street, Lagos;

28. King Solomon MFB, Western Avenue, Iponri, Lagos;

29. Riggs MFB, Victoria Island, Lagos;

30. Billionaire Blue Bricks MFB, Ajah, Lagos;

31. Susu MFB, Yaba, Lagos;

32. Wealthstream MFB, Apapa, Lagos;

33. Aguda Titan MFB, Ogba, Lagos;

34. Sapphire MFB, Uyo, Akwa Ibom State.

35. Metro MFB, Ogba, Ikeja, Lagos;

36. Mountain Top MFB, Trade Fair Complex, Lagos;

37. Unyogba MFB, Ofu LGA, Kogi State;

38. Wapo MFB, Okene, Kogi State;

39. Ibogun MFB, Ifo LGA, Ogun State;

40. Korede MFB, Igbotako, Ondo State;

41. Ahetou MFB, Ogba/Egbema/Ndoni LGA, Rivers State;

42. Fufore MFB, Yola, Adamawa State.