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Tension rocks banking industry as CBN revokes licence of 42 Microfinance Banks




Tension has rocked the banking industry as the CBN revoked the operational licences of 42 Microfinance Banks (MFBs) in Nigeria. gathered that the revocation took effect on 12th November 2020.

But Nigeria Deposit Insurance Corporation (NDIC), the official liquidator of the banks whose licenses were revoked said insured depositors will be paid any amounts recovered.

It was learnt that the NDIC officers would be at the closed banks’ offices nationwide to meet with the depositors and establish their account balances.

The corporation was also quoted to have said: “If you have any deposit in the affected banks, you should visit the branches of the closed banks between Monday, 21st December 2020, till Thursday, 24th December, 2020, in order to confirm the amount you have in the banks.”

                    Below is the list of the Closed Microfinance Banks:

  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. Gufax MFB, Uyo, Akwa Ibom State,

  7. ICB MFB, Ilah, Delta State;

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

  9. Hometrust (NATIONS) MFB, Nkwere, Imo State,

  10. Ringim MFB, Ringim, Jigawa State;

  11. Bigthana MFB, Ali Akilu Road, Kaduna;

  12. Rogo MFB, Rogo LGA, Kano State;

  13. Makoda MFB, Makoda LGA, Kano;

  14. Takai MFB, Takai LGA, Kano State;

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

  16. Ajingi MFB, Ajingi LGA, Kano State;

  17. Garko MFB, Garko, Kano;

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

  19. Kangiwa MFB, Kangiwa LGA, Kebbi State;

  20. Augie MFB, Augie LGA, Kebbi State;

  21. Mopa MFB, Mopa, Kogi State;

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

  23. Ultimate Benefit MFB, Lokoja, Kogi State;

  24. Ovidi MFB, Okene, Kogi State;

  25. Kirfi MFB, Kirfi LGA, Bauchi;

  26. Credit Express MFB, Kakawa Street, Lagos;

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

  28. Riggs MFB, Victoria Island, Lagos;

  29. Billionaire Blue Bricks MFB, Ajah, Lagos;

  30. Susu MFB, Yaba, Lagos;

  31. Wealthstream MFB, Apapa, Lagos;

  32. Aguda Titan MFB, Ogba, Lagos;

  33. Sapphire MFB, Uyo, Akwa Ibom State;

  34. Metro MFB, Ogba, Ikeja, Lagos,

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

  36. Unyogba MFB, Ofu LGA, Kogi State;

  37. Wapo MFB, Okene, Kogi State;

  38. Ibogun MFB, Ifo LGA, Ogun State;

  39. Korede MFB, Igbotako, Ondo State;

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

  41. Fufore MFB, Yola, Adamawa State,

  42. Partnership MFB, Onitsha, Anambra State.


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