₦airaland Forum

CBN Revokes Licenses of 46 Microfinance Banks.

Kindly click the link to see the full list of the affected Microfinance Banks on the CBN website : cbn.gov.ng/Out/2026/CCD/C…

#CBN
#PressRelease

The Central Bank of Nigeria (CBN) has revoked the operating licenses of forty-six (46)
Microfinance Banks with effect from July 1, 2026, in accordance with its powers under
Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.

The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. Olayemi
Cardoso, following the banks’ failure to meet the regulatory requirements for continued
operation as licensed financial institutions.

According to the revocation order, the action became necessary because of one or more of
the circumstances listed below:

i. Insufficient assets to meet liabilities,
ii. Closure of operations without the CBN approval,
iii. Inactivity and cessation of financial intermediation,
iv. Failure to commence operations within 12 months of licence approval, and
v. Failure to maintain minimum capital funds unimpaired by losses.

The revocation of the licenses is part of the Bank's ongoing efforts to safeguard the stability
of the financial sector, protect depositors, and ensure that licensed institutions comply with
current laws and regulatory requirements.

The Central Bank of Nigeria remains committed to promoting a safe, sound and resilient
financial system and will continue to take appropriate supervisory and regulatory actions,
where necessary, to maintain public confidence in the Nigerian financial system.
Sidi-Ali, Hakama (Mrs)
Ag. Director, Corporate Communications Department
July 1, 2026.

S/NO MFB CATEGORY STATE
1 Minji-Se Churchill MFB Tier 1 Rivers
2 Merchant MFB Tier 2 Abia
3 Janmaa MFB Tier 1 Kwara
4 Busu MFB Tier 2 Niger
5 Gold MFB Tier 1 Lagos
6Zain MFB (foremerly
Dawakin Tofa MFB) Tier 2 Kano
7 Bompai MFB Tier 1 Kano
8Ajwa MFB (Formerly
Gezawa) Tier 2 Kano
9 NOW NOW DIGITAL MFB Tier 2 Kano
10 Crystabel Microfinance
Bank Tier 1 Bayelsa
11 Chanelle MFB State Lagos
12 Abia SME MFB Tier 1 Abia
13 Kamba MFB Tier 2 Kebbi
14 Iwade MFB Tier 2 Ogun
15 Winview MFB Tier 1 Abuja
16 Zuru MFB Tier 2 Kebbi
17 Minjibir MFB Tier 1 Kano
18 Shanono MFB Tier 2 Kano
19 Sumaila MFB Tier 2 Kano
20 Rimin Gado MFB Tier 2 Kano
21 Mwaghavul MFB State Plateau
22 Sycamore MFB Tier 2 Kano
23 TOFA MFB Tier 2 Kano
24 Safegate MFB Tier 1 Lagos
25 Creekline MFB Delta Tier 2
26 Bestar MFB Tier 1 Oyo
27 Livingspring MFB Tier 1
Cross River
28 Apple MFB Tier 2 Ogun
29 Stanford MFB State Uyo
30 Frontline MFB Tier 2 Anambra
31 Zafec MFB Tier 2 Kaduna
32 Supreme MFB Tier 1 Lagos
33 Bejin-Doko MFB Tier 2 Niger 34 Kanopoly MFB Tier1 Kano
35 Bellbank MFB formerly
Tsanyawa Tier 2 Kano
36 Yeneng MFB Tier 2 Plateau
37 Creditville MFB Tier 1 Lagos
38 MBAG MFB Tier 1 Lagos
39 STRAIGHT SAHARA MFB Tier 1 Benue
40 OURPASS MFB Tier 2 Ondo
41 VERDANT MFB Tier 1 Lagos
42 BASAWA MFB Tier 2 Kaduna
43 CASHA MFB Tier 2 Abuja
44 ESTEEM MFB Tier 2 Kano
45 ENTERPRENEUR MFB Tier 1 Lagos
46 AVANTUS MFB Tier 2 Osun

https://x.com/i/status/2072317083044516256

These were major conduits

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

Is Fidelity bank an MFB?

Shuo.....na wa ooooo

I'm just seeing these names for the first time.

And they are mostly domiciled in the north

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

You want a multi billion dollar business that employ over 10,000 people direct and indirect ,that pays over 100 billion naira in tax to fold up because

peter obi fighting for u has a share in there ?

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

Bro, for your own peace of mind, stop making everything about Obi. You're a grown man. Wishing for a bank to fail just because of politics isn't healthy. Have some respect, abeg.

Do you even understand what it means for a bank to fail? It's not just about the owner. Thousands of employees could lose their jobs. Millions of customers could struggle to access their money. Businesses that rely on the bank could be disrupted. Investors could lose money, and confidence in the financial system takes a hit. The ripple effect goes far beyond any politician or shareholder. Don't let politics make you wish hardship on innocent people.

See u see kpai
See u see frustration
See u see vagabond

Soon u go rest

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

See u see kpai
See u see frustration
See u see madness

Soon you go rest

Why Kano State leading z

But folks wey dey put their money for Microfinance bank get mind like this so All those mushroom microfinance banks are only good at giving the locals loans with outrageous interest rates finish, and na them sabi use force collect their money back, that's after those heartless LAPO people

Access Bank, Wigwe went to hell with my money 💰

Wish them all the best in their future endeavors.

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

of course that's your wish as evil as your heart you never cared about Nigeria's progress just hatred for Peter Obi... He would continue to hunt you till you run mad

I came to see if the micro finance bank I am owing is listed.... Kai they escaped

Are you sure all this plenty Kano own is not for terrorism financing

37 is probably owned by loan app

SO SHALL EVIL NEVER DEPART FROM YOU FOR WISHING ANOTHER MAN HELL

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

They are there for a purpose and they are not peculiar to Nigeria. They provide much needed capital with relaxed loan pre-qualification terms. The problem is our people who believe they don't have to return borrowed funds.

I have lost at least 5 friends simply because they can't honour their own words and I don't have the time and mindset to take anyone to court.

Robertgreene1:
But folks wey dey put their money for Microfinance bank get mind like this so All those mushroom microfinance banks are only good at giving the locals loans with outrageous interest rates finish, and na them sabi use force collect their money back, that's after those heartless LAPO people

Baba, non be Obi get Fidelity bank o. Who dash am ownership of bank

I investigated the matter some time ago and came up with this thread: https://www.nairaland.com/8617075/debunking-claim-peter-obi-owns

The only link he has with the bank is that he was once in the board and served as chairman for about 1 year. Non let all these obidient make you non like the bank for no reason oo

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

oluwaseyi0:
Are you sure all this plenty Kano own is not for terrorism financing

Comrade reduce the volume of this vawulence . Northern Nigeria needs overhaul, I'm a Northerner

Omooba77:
CBN Revokes Licenses of 46 Microfinance Banks.

Kindly click the link to see the full list of the affected Microfinance Banks on the CBN website : cbn.gov.ng/Out/2026/CCD/C…

#CBN
#PressRelease

https://x.com/i/status/2072317083044516256

funny though...I've never heard about these banks existence before...do they even have an office

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

unfortunately, it's run by a successful and business savvy people unlike the people running the affairs of the country with excessive loans even after reducing government responsibilities like subsidies.

So no, your hate isn't enough to kill a successful person

moniepoint no go ever fail. them deu 2/4/7

Very interesting development.
Did you know why Microfinance Are Established and tailored to the Ones in Bangladesh ⁉️
So,why did Yunus Of Bangladesh Introduce the Micro-Finance- into Bangladesh Economy and he Succeeded !
He Brought the Ideas to that Economy through Grassroots Banking,
But Why did it Fail or
Why Is It Failing in Nigeria ?
torh🤔

people even get mind keep money with these type of MFB THEIR NAME ALONE REACH TO MAKE PERSON FEAR

9jatriot:
Baba, non be Obi get Fidelity bank o. Who dash am ownership of bank

I investigated the matter some time ago and came up with this thread: https://www.nairaland.com/8617075/debunking-claim-peter-obi-owns

The only link he has with the bank is that he was once in the board and served as chairman for about 1 year. Non let all these obidient make you non like the bank for no reason oo

You are really a funny guy you say who dash am ownership, yet it is still the same you who in the past accused him of keeping govt money in his bank. Shun hatred abeg. This is not how to do politics.

TemplarLandry:
Fidelity Bank which is owned by Hobi...
I wish it were a bankrupt microfinance bank and included here.

Lol, be like say Peter Obi dey torment ona for dream.

Impressive
South East has only three in the list

Two from Abia and
One from ANAMBRA states

That's our trademark scorecard whe it comes to progressive affairs


See what our Aso Rock tenants are wishing Nigerians

Which kind logic be this na? That he kept Anambra money in the bank is an accusation that has trailed him, but that does not make him the owner of the bank.

You that is speaking, do you not also have money in the bank, does that make you an owner?

Irony1:
You are really a funny guy you say who dash am ownership, yet it is still the same you who in the past accused him of keeping govt money in his bank. Shun hatred abeg. This is not how to do politics.