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NDIC: CBN revokes licenses of 42 microfinance banks

The Nigeria Deposit Insurance Corporation (NDIC) has announced that the Central Bank of Nigeria (CBN) has revoked the operating licences of 42 microfinance banks in the country.

NDIC made this was disclosed in a statement issued through its website on Friday.

The statement read: “This is to inform the depositors, creditors, shareholders and the general public that the operating licences of the under listed 42 microfinance banks have been revoked by the Central Bank of Nigeria effective 12th November, 2020.

“The Nigeria Deposit Insurance Corporation, the official liquidator of the banks whose licences were recently revoked, is in the process of closing the listed banks and pay 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 42 affected MFBs 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.


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