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CBN revokes operating licenses of 42 microfinance banks

Adewale Nurudeen

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CBN demands bailout loans repayment from states

The Central Bank of Nigeria (CBN) has revoked the operating licenses of 42 microfinance banks in the country.

This was disclosed by the Nigeria Deposit Insurance Corporation (NDIC) in an announcement on its website titled ‘Notice of closure of 42 microfinance banks’.

It stated, “This is to inform the depositors, creditors, shareholders and the general public that the operating licenses of the under listed 42 microfinance banks have been revoked by the Central Bank of Nigeria effective 12th November, 2020.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 licenses 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.”

See the affected banks below:

S/N              BANK                ADDRESS

1              HEDGEWORTH MFB        GUOBA PLAZA SUITE B06, – 171, A.E. EKUKINAM STREET, BY CHISCO, UTAKO, ABUJA

2              FUTURE GROWTH MFB  REAL TOWER PLAZA, PLOT 1121 OBAFEMI AWOLOWO WAY, UTAKO, ABUJA

3              BAGWAI MFB    BAGWAI-SHANONO ROAD, BAGWAI LGA, KANO

4              ERE CITY MFB    ERE-IJESHA/IIIAHUN ROAD, ERE-IJESHA, ORIADE LGA, OSUN

5              CAFON MFB       GARKI POLICE BARRACKS, GARKII, FCT, ABUJA

6              AKCOFED MFB   EKIT ITAM II (BESIDE WATER BOARD), P. O. BOX 2048, UYO, AKWA-IBOM STATE

7              GUFAX MFB       N0. 3 UDOTUNG UBO STREET UYO, AKWA IBOM STATE

8              PARTNERSHIP MFB          107 UPPER IWEKA ROAD, ONITSHA, ANAMBRA STATE

9              ICB MFB               IIIAH-ASABA ROAD, OSHIMILI NORTH LGA, IIIAH, DELTA STATE

10           ONIMA MFB       NIPOST BUILDING, EKEOCHA ONICHA, EZINIHITTE MBAISE LGA, IMO STATE

11           HOMETRUST (NATIONS) MFB     76, ORLU ROAD, NKWERE, IMO STATE

12           RINGIM MFB      OPP. RINGIM CENTRAL MARKET, RINGIM, JIGAWA STATE

13           BIGTHANA MFB 6, ALI AKILU ROAD, KADUNA

14           ROGO MFB         ROGO TOWN, ROGO LGA, KANO STATE

15           MAKODA MFB   NO 15, KOGUNA TOWN, MAKODA LGA, KANO

16           TAKAI MFB          TAKAI TOWN, TAKAI LGA, KANO STATE

17           BEBEJI MFB         NO. 10 GIDAN IYAN, BEBEJI TOWN, BEBEJI L.G.A., KANO STATE

18           AJINGI MFB        NO. 10 HAKIMI STREET, AJINGI TOWN, AJINGI LGA, KANO STATE

19           GARKO MFB       3, GARKO TOWN, KANO

20           KANGIWA MFB KANGIWA TOWN, KANGIWA LGA, KEBBI STATE

21           AUGIE MFB         AUGIE TOWN, AUGIE LGA, KEBBI STATE

22           MOPA MFB         SILAS BAMIDELE DANIYAN HOUSE, KABBA-ILORIN ROAD, MOPA, KOGI-STATE

23           SOLID BASE MFB               EKIRIN ADDE, IJUMU LGA, KOGI STATE

24           ULTIMATE BENEFIT MFB               150C, OKENE KABBA ROAD, LOKOJA, KOGI

25           OVIDI MFB          NO. 1, ATTA ROAD, OKENE, KOGI STATE

26           KIRFI MFB            KIRFI TOWN, KIRFI LGA, BAUCHI

27           CREDIT EXPRESS MFB     27, KAKAWA STREET, LAGOS

28           KING SOLOMON MFB     GOD BLESS NIGERIA HOUSE, 117/119, WETSERN AVENUE, IPONRI, LAGOS

29           RIGGS MFB         PLOT 5, IMAN ABIB ADETORO STREET, OFF AJOSE ADEOGUN STREET, V.I., LAGOS

30           BILLIONAIRE BLUE BRICKS MFB  APERIN HOUSE (2ND FLOOR) BLOCK I, PLOT 27, BUDO LAYOUT AJIWE, LEKKI EPE EXPRESSWAY, AJAH, LAGOS STATE

31           SUSU MFB           34, COMMERCIAL AVENUE SABO, YABA, LAGOS

32           WEALTHSTREAM MFB    AQUARIUS BLOCK, ELEGANZA PLAZA, GROUND FLOOR, LEFT WING 1 COMMERCIAL ROAD, APAPA, LAGOS

33           AGUDA TITUN MFB         21, SHONOLA STREET, AGUDA TITUN, OGBA, LAGOS

34           SAPPHIRE MFB  111, ABAK ROAD, UYO, AKWA IBOM STATE

35           METRO MFB       15, OTUNUBI STREET, OFF HARUNA, OGBA, IKEJA, LAGOS

36           MOUNTAIN TOP MFB     PROGRESS BLOCK, SHOP A102, AFRICAN TYRE VILLAGE, OPP. APT TRADE FAIR COMPLEX, LAGOS/BADAGRY EXPRESS WAY, LAGOS

37           UNYOGBA MFB 1, ALOMA ROAD, OPP. MKT. SQ., EJULE, OFU LGA, KOGI STATE

38           WAPO MFB         OKENE-LOKOJA ROAD, NAGAZI, ADAVI LGA, OKENE, KOGI STATE

39           IBOGUN MFB     IBOGUN EGBEDA, IFO LGA, OGUN STATE

40           KOREDE MFB     NO. 3, LUWOYE STREET, IGBOTAKO, ONDO STATE

41           AHETOU MFB     26, EREMA ROAD, BYEPASS, AKABUKA, OGBA/EGBEMA/NDONI LGA, RIVERS STATE

42           FUFORE MFB      NO. 25 GURIN ROAD, FUFORE LGA, ADAMAWA, YOLA STATE