By Ihechi Enyinnaya
The Central Bank of Nigeria has revoked the licenses of 42 microfinance banks in the country and has subsequently closed them.
The Nigeria Deposit Insurance Corporation (NDIC) had in a statement said it will promptly commence the verification of claims of depositors of the affected banks from tomorrow Monday, December 21, 2020.
Below is the list of affected banks
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. Horust (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 Titun 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.
Part of the statement by NDIC read: “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shareholders and the general public that the operating licences of the under listed 42 Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN) effective from 12th of November, 2020.
“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.
“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.”