CBN Withdraws 179 MfBs, 4 Mortgage Banks Licences

CBN Approves Reduction In Banks' CRR

According to a statement on its website, the Central Bank of Nigeria (CBN) has revoked the operational licenses of 179 microfinance institutions, three financing businesses, and four main mortgage banks.

The Central Bank of Nigeria (CBN) announced in an official gazette that the principal mortgage banks, financing companies, and microfinance institutions listed in Schedules I, II, and III, respectively, no longer operate in Nigeria for the type of activity for which their licenses were granted for a period of six months.

According to the banking authorities, several MfBs, Mortgage, and Finance Companies did not fulfill or comply with the requirements attached to the issuance of their licenses.

It further stated that some of the impacted operators did not uphold the demands made of them by the Central Bank of Nigeria under the terms of Act No. 5 of the Banks and Other Financial Institutions Act (BOFIA) 2020, which governs financial institutions.

Godwin Emefiele said he cancelled the licenses of the impacted financial institutions in accordance with the authority granted to him by Section 12 of the BOFIA Act 2020.

Resort Savings & Loans, Safetrust Mortgage Bank, Adamawa Savings & Loans, and Kogi Savings & Loans are among of the mortgage banks that are impacted. Additionally, it revokes the authorizations of Treasures & Trust Limit, TFS Finance Limited, and HHL Invest & Trust Limited.

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

  1. 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
  2. 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
  3. AGULERI MICROFINANCE BANK LIMITED 31. APEKS MICROFINANCE BANK LIMITED 32. FAHIMTA MICROFINANCE BANK LIMITED

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

  1. 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
  2. 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
  3. 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
  4. 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
  5. 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
  6. 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
  7. 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
  8. 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

OZIZZA MICROFINANCE BANK LIMITED B 465 103. 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

  1. 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
  2. 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
  3. OBOSI MICROFINANCE BANK LIMITED 123. FIYINFOLU MICROFINANCE BANK LIMITED 124. BISHOPGATE MICROFINANCE BANK LIMITED 125. AWKA MICROFINANCE BANK LIMITED

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

2ND List Includes

EVANGEL MICROFINANCE BANK 2. DOMINION MICROFINANCE BANK 3. ANYA MICROFINANCE BANK 4. AKWENGWU MICROFINANCE BANK 5. FADAMA FARMERS MICROFINANCE BANK 6. SAL-FOL MICROFINANCE BANK 7. MAUTECH MICROFINANCE BANK 8. WASE MICROFINANCE BANK 9. SMARTMICRO MICROFINANCE BANK 10. AMBA MICROFINANCE BANK

  1. BRIDGE HOUSE MICROFINANCE BANK 12. MONEYWELL MICROFINANCE BANK 13. OTUKPO MICROFINANCE BANK 14. OLOGBON MICROFINANCE BANK 15. BESTWAY MICROFINANCE BANK 16. BIYAMA MICROFINANCE BANK 17. GREENLAND MICROFINANCE BANK 18. FASILDAPO MICROFINANCE BANK 19. SUNRISE MICROFINANCE BANK
  2. JOINT FARMERS MICROFINANCE BANK 21. PROLIFIC MICROFINANCE BANK 22. HALMOND MICROFINANCE BANK 23. AJIKOBI MICROFINANCE BANK 24. KOGI MICROFINANCE BANK 25. EYOWO MICROFINANCE BANK 26. ARISE MICROFINANCE BANK 27. ISI-AKU MICROFINANCE BANK 28. BMAZAZHIN MICROFINANCE BANK
  3. INI MICROFINANCE BANK 30. NARICT MICROFINANCE BANK B 459 31. INTERLAND MICROFINANCE BANK 32. EHOR MICROFINANCE BANK
  4. BIBAJINRE MICROFINANCE BANK 34. GOLDEN FUNDS MICROFINANCE BANK 35. GWADABAWA MICROFINANCE BANK 36. IBA MICROFINANCE BANK 37. EDUMANA MICROFINANCE BANK 38. WEST-END MICROFINANCE BANK 39. UMEJEI MICROFINANCE BANK 40. MOUAU VASMUCS MICROFINANCE BANK
  5. JAMIS MICROFINANCE BANK 42. NEW WORLD MICROFINANCE BANK 43. ABESTONE MICROFINANCE BANK 44. NSEHE MICROFINANCE BANK 45. OSOGBO MICROFINANCE BANK 46. CROSSOVER MICROFINANCE BANK 47. DANGIZHI MICROFINANCE BANK
‘98.5% Of eNaira Wallets Unused’ – IMF

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