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CBN withdraws license of 146 financial Institutions

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CBN withdraws license of 146 financial Institutions

The Central Bank of Nigeria (CBN) has terminated the licences of 139 microfinance banks, four main mortgage banks, and three financing institutions in the country.

The information, which was published on the website of the apex bank, CBN, on Tuesday, May 23, 2023, stated that the financial institutions’ licences were withdrawn because they failed to carry out in Nigeria the type of business for which their licences were obtained for a continuous period of six months.

It stated that the financial institutions “either remained inactive, insolvent, failed to render returns, closed shop, or ceased to carry on the type of banking business for which they were licenced for more than six months in contravention of the Banks and other Financial Institutions Act (BOFIA), 2020, and the Revised Regulatory and Supervisory Guidelines for Microfinance Banks in Nigeria.”

The list of embattled banks and financial institutions includes

Microfinance Banks

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Ogbe-Ahiara Microfinance Bank Limited

Olofin Microfinance Bank Ltd.

Obosi Microfinance Bank Limited

Fiyinfolu Microfinance Bank Limited

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Bishopgate Microfinance Bank Limited

Awka Microfinance Bank Limited

Zigate Microfinance Bank Ltd.

Esan Microfinance Bank Limited

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Enugu-Ukwu Microfinance Bank Limited

Echo Microfinance Bank Ltd.

Ally Microfinance Bank Limited

Network Microfinance Bank Limited

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Awgbu Microfinance Bank Limited

Atlas Microfinance Bank

Bluewhales Microfinance Bank

Everest Microfinance Bank

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Igangan Microfinance Bank

Mainsail Microfinance Bank

Merit Microfinance Bank

Minna Microfinance Bank

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Musharaka Microfinance Bank

Nopov Microfinance Bank

Ohon Microfinance Bank

Premium Microfinance Bank

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Royal Microfinance Bank

Statesman Microfinance Bank

Suisse Microfinance Bank

Vibrant Microfinance Bank

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Virtue Microfinance Bank

Zamare Microfinance Bank

North Capital Microfinance Bank

Chidera Microfinance Bank

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Excellent microfinance bank

Ni’ima Microfinance Bank

Cosmopolitan Microfinance Bank

Progressive Link Microfinance Bank

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Trust One Future Democracy

Ekuombe Microfinance Bank

First Index Microfinance Bank

Ola Microfinance Bank

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Uli Microfinance Bank

Verdant Microfinance Bank

Aguleri Microfinance Bank Ltd.

Apeks Microfinance Bank Limited

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Fahimta Microfinance Bank Ltd.

Manny Microfinance Bank Ltd.

Reality Microfinance Bank Ltd.

Surburban Microfinance Bank Ltd.

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Onyx Microfinance Bank Limited

Osina Microfinance Bank Limited

Olofin-Owena Microfinance Bank Ltd.

Zikado Microfinance Bank Ltd.

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Prudential Cooperative Microfinance Bank Limited

Peniel Microfinance Bank Ltd.

Taraba Microfinance Bank Limited

Brass Microfinance Bank Ltd.

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Michika Microfinance Bank Limited

Ndiagu Microfinance Bank Limited

Northbridge Microfinance Bank Limited

FCT Microfinance Bank Limited

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Omu-Aran Microfinance Bank Limited

Cherish Microfinance Bank Ltd.

Bipc Microfinance Bank Limited

Danels Global Microfinance Bank Limited

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Bancorp Microfinance Bank Limited

Manna Microfinance Bank Ltd.

Moneywise Microfinance Bank Ltd.

Mercury Microfinance Bank Ltd.

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New Age Microfinance Bank Limited

Pearl Microfinance Bank Limited

Zawadi Microfinance Bank Limited

Seed Capital Microfinance Bank Ltd.

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Eduek Microfinance Bank Limited

Eksu Microfinance Bank Limited

Dakingari Microfinance Bank Limited

Ogoja Microfinance Bank Limited

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Nwabosi Microfinance Bank Limited

Nuture Microfinance Bank Limited

Active Point Microfinance Bank Limited

Amoye Microfinance Bank Limited

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Boluwaduro Microfinance Bank Limited

Iyede Microfinance Bank Limited

Mayfair Microfinance Bank Ltd.

Calabar Microfinance Bank Ltd.

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Ighomo Microfinance Bank Ltd.

Hackman Microfinance Bank Ltd.

Idese Microfinance Bank Limited

Bridgeway Microfinance Bank Limited

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Grassroots Microfinance Bank Limited

Surelife Microfinance Bank Limited

Tijarah Microfinance Bank Limited

Ic-Global Microfinance Bank Limited

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Ejiamatu Microfinance Bank Limited

Briyth Covenant Microfinance Bank Ltd.

Nanka Microfinance Bank Limited

Cub Microfinance Bank Ltd.

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BFL Microfinance Bank Limited

Umunne Microfinance Bank Limited

Oroke Microfinance Bank

Alkaleri Microfinance Bank Limited

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Crowned Eagle Microfinance Bank Limited

Unifa Microfinance Bank Limited

Dadinkowa Microfinance Bank Ltd.

Ifesowapo Microfinance Bank Limited

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Oaf Microfinance Bank Limited

Bama Microfinance Bank Limited

Ngala Microfinance Bank Limited

Iwoama Microfinance Bank Limited

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Kada Microfinance Bank Ltd.

Keffi Microfinance Bank Ltd.

Nut-Endwell Microfinance Bank Limited

First Multiple Microfinance Bank Limited

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SBDC Microfinance Bank Limited

Oros Capital Microfinance Bank Ltd.

Ozizza Microfinance Bank Limited

Primera Credit Microfinance Bank Limited

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Ifeanyichukwu Microfinance Bank Limited

Ihioma Microfinance Bank Limited

Josad Microfinance Bank Ltd.

Akpo Microfinance Bank Limited

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Aiyepe Microfinance Bank Limited

ABC Microfinance Bank Limited

Star Microfinance Bank Limited

Purple Money Microfinance Bank Ltd.

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Utuh Microfinance Bank Ltd.

Stallion Microfinance Bank Ltd.

KJL Microfinance Bank Limited

Credit Africa Microfinance Bank Limited

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Cowries Microfinance Bank Ltd.

Lawebod Microfinance Bank Ltd.

Mabinas Microfinance Bank Ltd.

Business Support Microfinance Bank Limited

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Primary Mortgage Banks

Adamawa Savings and Loans

Kogi Savings and Loans

Resort Savings and Loans

Safetrust Mortgage Bank

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Finance Companies

TFS Finance Limited

HHL Invest and Trust Limited

Treasures and Trust Limited

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