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NDIC Shuts Down 42 Microfinance Banks - Business (2) - Nairaland

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List Of 47 Microfinance Banks Licences Revoked By CBN / NDIC Calls On Depositors In 20 Liquidated Banks To Claim Their Money / About 99.4% Of Bank Accounts Contain Less Than N500,000 - NDIC (2) (3) (4)

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Re: NDIC Shuts Down 42 Microfinance Banks by ElValiente(m): 1:24pm On Dec 21, 2020
martooski:
The NDIC yesterday announces the immediate closure of 42 Microfinance Banks nation wide



https://ndic.gov.ng/notice-of-closure-of-42-microfinance-banks-mfbs/
As long as Kuda microfinance bank is not there. I'm good. Ire ooo

1 Like

Re: NDIC Shuts Down 42 Microfinance Banks by seniormallam(m): 1:26pm On Dec 21, 2020
The best gift this year would have been shutting down half of those online loan apps, guys is owing them like madd
Re: NDIC Shuts Down 42 Microfinance Banks by winterfell007(m): 1:26pm On Dec 21, 2020
So all those microfinance banks in Anambra state are solvent. That's interesting. Especially that Agulu Microfinance bank.
Re: NDIC Shuts Down 42 Microfinance Banks by ElValiente(m): 1:27pm On Dec 21, 2020
Antibot5:


Lol nothing would happen to kuda
so we plenty. The guy get sense die. He no get time for all this branch wey landlord and light bill God send them packing. E just stay online dey chop him money. But make Dem print my card now since. Alat by wema don enter sef. Gomoney too sweet but Kuda is the best of them all. I don't go out again lol with card my pos guy know me na transfer instanta gbam e don enter. Unlike all the so call big bank wey go dey say bad network.

2 Likes

Re: NDIC Shuts Down 42 Microfinance Banks by Daniel2802(m): 1:28pm On Dec 21, 2020
Kingdemi212019:
Kuda one of the most underrated banks in Nigeria,,no unwanted charges everything day work perfectly, how I wish they start having a physical branch in Nigeria

If they have a physical branch, it defeats their mission.

1 Like

Re: NDIC Shuts Down 42 Microfinance Banks by Thescienceprof(m): 1:31pm On Dec 21, 2020
[quote author=southniyikaye post=97290424]No 31-SUSU mfb, are you thinking what am thinking? Henhen..
Are you Dia?

Me sef dey think abi SUSU of RantHQ owns this bank ni.
Re: NDIC Shuts Down 42 Microfinance Banks by Taiwojon(m): 1:37pm On Dec 21, 2020
martooski:
The NDIC yesterday announces the immediate closure of 42 Microfinance Banks nation wide



https://ndic.gov.ng/notice-of-closure-of-42-microfinance-banks-mfbs/
Hmmm!!!!

Sha please provide work for their worker sha.

We don't want jobless people moving in the street of lagos again oooo.


Please endeovour to work a legitimate work or job.
God bless all who are labouring in the right way.

Jesus save
Re: NDIC Shuts Down 42 Microfinance Banks by sapientia(m): 1:38pm On Dec 21, 2020
3 days?
Re: NDIC Shuts Down 42 Microfinance Banks by donalbaba(m): 1:55pm On Dec 21, 2020
jericco1:
9ja cash and sokoloan should be included

I dey with u
Re: NDIC Shuts Down 42 Microfinance Banks by moscobabs(m): 2:02pm On Dec 21, 2020
Accion will never be there. That's another underated bank in Nigeria
Re: NDIC Shuts Down 42 Microfinance Banks by SKINDOGGY: 2:19pm On Dec 21, 2020
NadiaR:
Gather here if you were looking for KUDA MFB
grin grin
I dy tells you bro :Dmy beloved bank cheesy

1 Like

Re: NDIC Shuts Down 42 Microfinance Banks by Jdbrasco2: 2:51pm On Dec 21, 2020
seniormallam:
The best gift this year would have been shutting down half of those online loan apps, guys is owing them like madd
Which of them is good? I heard Carbon loan and investment app is great.
Re: NDIC Shuts Down 42 Microfinance Banks by Orlu15(m): 3:00pm On Dec 21, 2020
martooski:
The NDIC yesterday announces the immediate closure of 42 Microfinance Banks nation wide


This serious

https://ndic.gov.ng/notice-of-closure-of-42-microfinance-banks-mfbs/
Re: NDIC Shuts Down 42 Microfinance Banks by INTROVERT(f): 3:04pm On Dec 21, 2020
vibbb:
Ok, but how will they repay/refund customers who has savings with them ?


As the deposit insures of Nigeria, NDIC operates a DIF (Deposit Insurance fund) to which banks contribute about 0.1% of their earnings every year. This money is debited at source by the Central Bank and NDIC invests the money in government tbills etc. When a bank closes NDIC pays depositors of MFBs 200k and DMBs 500K. Therefore every depositor of these closed MFB will be paid up to the sum to 200k. I pity you if you owe any of these MFBs because NDIC, Amcon Is coming for your behind.
Re: NDIC Shuts Down 42 Microfinance Banks by Obedinho130: 3:13pm On Dec 21, 2020
please how good is kuda bank. i have opened account with them but i am scared to put my money there after seeing so many negative comments on facebook. Nobody would want to hear stories concerning his money na.

2 Likes

Re: NDIC Shuts Down 42 Microfinance Banks by leochuks1990(m): 3:14pm On Dec 21, 2020
Kingdemi212019:
Kuda one of the most underrated banks in Nigeria,,no unwanted charges everything day work perfectly, how I wish they start having a physical branch in Nigeria

Trust me, when they start having physical branches, you will not like them...their cost of operation will soar like an Eagle... then comes inefficiency...
Re: NDIC Shuts Down 42 Microfinance Banks by Comedian2019: 3:27pm On Dec 21, 2020
Kingdemi212019:
Kuda one of the most underrated banks in Nigeria,,no unwanted charges everything day work perfectly, how I wish they start having a physical branch in Nigeria
When they start opening branches here and there, operational cost will be too high, leading to higher transaction charges.
Re: NDIC Shuts Down 42 Microfinance Banks by romenna: 3:30pm On Dec 21, 2020
Aquilapriscilla:
Me looking for lapo MFB
For ur info, LAPO MFB is more capitalised than some commercial banks e.g wema bank.
LAPO is the biggest mfb in west Africa.
If you're a client or staff of LAPO u r safe
The bank paid 100% salary during lock down, did not sack anyone due to d state of naija economy but even recruited more hands.
Paid bonus and recently paid 13th salary to all staff.
Some commercial banks don't treat their staff this way.

3 Likes

Re: NDIC Shuts Down 42 Microfinance Banks by JohnOkolo: 3:31pm On Dec 21, 2020
Enudapan:
Nah eh! No qualms
This is so unsophisticated

Another unemployment avenue
Reason why every should have a side hustle
Either by bombing steadily or any other means

By bombing or being a petty internet Thieves.

Is that your solution to been poor. It shows poverty have defeated your mind, body and soul if been a petty Thieves is what you ask people to be to be financially stable.
Re: NDIC Shuts Down 42 Microfinance Banks by Aquilapriscilla: 3:37pm On Dec 21, 2020
romenna:

For ur info, LAPO MFB is more capitalised than some commercial banks e.g wema bank.
LAPO is the biggest mfb in west Africa.
If you're a client or staff of LAPO u r safe
The bank paid 100% salary during lock down, did not sack anyone due to d state of naija economy but even recruited more hands.
Paid bonus and recently paid 13th salary to all staff.
Some commercial banks don't treat their staff this way.
Hmm I see.
Thank you for the enlightenment

1 Like

Re: NDIC Shuts Down 42 Microfinance Banks by juniorstar(m): 3:39pm On Dec 21, 2020
Aquilapriscilla:
Me looking for lapo MFB
no be only u o
Re: NDIC Shuts Down 42 Microfinance Banks by Austino778: 3:48pm On Dec 21, 2020
Roar!!!!!
Re: NDIC Shuts Down 42 Microfinance Banks by Omoobong1(m): 3:50pm On Dec 21, 2020
bestman09:


Chai! They didn't close the one I am owing!
Oga, kolewek o! You must pay your debt...

1 Like

Re: NDIC Shuts Down 42 Microfinance Banks by smsinnigeria(m): 3:54pm On Dec 21, 2020
Most MFBs don't employ professionals and also do not pay their staff well. Microfinance business being a laboour intensive undertaking requires well trained and motivated staff to drive it.
Re: NDIC Shuts Down 42 Microfinance Banks by Nobody: 3:59pm On Dec 21, 2020
Obedinho130:
please how good is kuda bank. i have opened account with them but i am scared to put my money there after seeing so many negative comments on facebook. Nobody would want to hear stories concerning his money na.

Kuda when I joined got me with their free transfers / low cost transfer but I pulled all my money out when they sent an email to clients and they joked about the money disappearing... spiritually my eyes opened I said thank you o but bank wey you now na bank na bank wey u use

It was a joke nonetheless but I didn’t want to take a chance
Re: NDIC Shuts Down 42 Microfinance Banks by ndukwechinasa: 4:06pm On Dec 21, 2020
SavageResponse:


Oceanic Bank was not a microfinance bank
I tire oooo.....
Re: NDIC Shuts Down 42 Microfinance Banks by KillerBeauty(f): 4:38pm On Dec 21, 2020
Aquilapriscilla:
Me looking for lapo MFB
Isn't LAPO the biggest MFB in Nigeria.
With hundreds of branches and thousands of staffs.
Re: NDIC Shuts Down 42 Microfinance Banks by Bluntemperor: 5:07pm On Dec 21, 2020
ahnie:
gather here if you remember oceanic bank that year.

This is not a Samba dance Madam!
It is serious because some people's money is lost forever.Hope you know that!
Did this NDIC ever carried out due diligence on these Microfinance Banks before establishment at all? Why is it that it is when they failed you informed the public? Then all the supervisory/Regulators on financial matters have equally failed in their duties.
Re: NDIC Shuts Down 42 Microfinance Banks by Aquilapriscilla: 6:24pm On Dec 21, 2020
KillerBeauty:

Isn't LAPO the biggest MFB in Nigeria.
With hundreds of branches and thousands of staffs.

Any thing can happen
We are in Nigeria
Re: NDIC Shuts Down 42 Microfinance Banks by Obedinho130: 7:10pm On Dec 21, 2020
solasoulmusic:


Kuda when I joined got me with their free transfers / low cost transfer but I pulled all my money out when they sent an email to clients and they joked about the money disappearing... spiritually my eyes opened I said thank you o but bank wey you now na bank na bank wey u use

It was a joke nonetheless but I didn’t want to take a chance
Lol so after realising its a joke u went ahead to remove all ur money. Thats one rhing thing with money. u cant put it where u dont trust. Someone advised me to leave digital bank alone
Re: NDIC Shuts Down 42 Microfinance Banks by tuboi: 7:54pm On Dec 21, 2020
jericco1:
9ja cash and sokoloan should be included

I’m sure they messaged your contacts because you refused to repay on your due date....���
Re: NDIC Shuts Down 42 Microfinance Banks by chubinwa(m): 8:04pm On Dec 21, 2020
vibbb:
Ok, but how will they repay/refund customers who has savings with them ?
They only proffer loan to their clients

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