Monday, September 20, 2021

CBN revokes licences of 42 microfinance banks [Full List]

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Ibrahim Ramalan
Ibrahim Ramalan is a graduate of Mass Communications from the Ahmadu Bello University (ABU) Zaria. With nearly a decade-long, active journalism practice, Mr Ramalan has been able to rise from a cub reporter to the exalted position of an editor; first as Arts Editor with the Blueprint Newspapers before resigning in 2019; second and presently as an Associate Editor of the Daily Nigerian online newspaper. He can be reached via [email protected], or www.facebook.com/ibrahim.ramalana, or @McRamalan on Twitter.
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The Central Bank of Nigeria, CBN, has liquidated 42 microfinance banks in the country and subsequently revoked their operation licences.

The Nigeria Deposit Insurance Corporation, NDIC, disclosed this in a statement, saying it would promptly commence the verification of claims of depositors of the affected banks from Monday, December 21.

The NDIC also said it had begun the process of paying insured depositors of the liquidated banks across the country.

The affected banks include Hedgeworth MFB, Utako, Abuja; Future Growth MFB, Utako, Abuja;  Bagwai MFB, Bagwai LGA, Kano; Ere City MFB, Oriade LGA, Osun State; Cafon MFB, Garki II, Abuja; Akcofed MFB, Uyo, Akwa-Ibom State; Gufax MFB, Uyo, Akwa Ibom State, Partnership  MFB, Onitsha, Anambra State;  ICB MFB, Ilah, Delta State; Onima MFB, Ezinihite Mbaise LGA, Imo State; and Hometrust (NATIONS) MFB, Nkwere, Imo State.

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Others are Ringim MFB, Ringim, Jigawa State; Bigthana MFB, Ali Akilu Road, Kaduna; Rogo MFB, Rogo LGA, Kano State; Makoda MFB, Makoda LGA, Kano; Takai MFB, Takai LGA, Kano State; Bebeji MFB, Bebeji  L.G.A., Kano State; Ajingi MFB, Ajingi LGA,Kano State; Garko MFB, Garko, Kano; Kangiwa MFB, Kangiwa LGA, Kebbi State; Augie MFB, Augie LGA, Kebbi State; Mopa MFB, Mopa, Kogi State; Solid Base MFB, Ijumu  LGA, Kogi State; Ultimate Benefit MFB, Lokoja, Kogi State; Ovidi MFB, Okene, Kogi State; Kirfi MFB, Kirfi LGA, Bauchi; Credit  Express MFB, Kakawa Street, Lagos; King Solomon MFB, Western Avenue, Iponri, Lagos; Riggs MFB, Victoria Island, Lagos; Billionaire Blue Bricks MFB, Ajah, Lagos; Susu MFB, Yaba, Lagos; Wealthstream MFB, Apapa, Lagos; Aguda Titun MFB, Ogba, Lagos and Sapphire MFB, Uyo, Akwa Ibom State.

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The rest are Metro MFB, Ogba, Ikeja, Lagos, Mountain Top MFB, Trade Fair Complex, Lagos; Unyogba MFB, Ofu LGA, Kogi State; Wapo MFB, Okene, Kogi State; Ibogun MFB, Ifo LGA, Ogun State;  Korede MFB, Igbotako, Ondo State;  Ahetou  MFB, Ogba/Egbema/Ndoni LGA, Rivers State and Fufore MFB, Yola, Adamawa State.

The NDIC statement said, “This is to inform the depositors, creditors, shareholders and the general public that the operating licences of the under listed 42 Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN) effective from 12th of November, 2020.

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“The Nigeria Deposit Insurance Corporation (NDIC), the official liquidator of the banks whose licences were recently revoked, is in the process of closing the listed banks and paying their insured depositors.

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“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 statement added that for further clarification or any assistance, eligible depositors should contact the representatives of the director, Claims Resolution Department of the NDIC in any of the centres/zonal offices in Abuja, Lagos, Enugu, Benin, Kano, Ilorin, Bauchi, Sokoto, Yola and Port Harcourt.

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