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42 microfinance banks lose licences

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42 microfinance banks lose licences
42 microfinance banks (MfBs) have had their operating licenses withdrawn by the Central Bank of Nigeria (CBN).

Nigeria Deposit Insurance Corporation (NDIC) which stepped in to wind down the banks, said earlier that it would promptly commence the verification of claims of depositors from Monday December 21.

The affected microfinance banks are 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.

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, and Mopa, Kogi State.

Others are 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.

Also on the list 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 said in a statement;

“As the official liquidator of the banks whose licences were recently revoked, it is the process of closing the 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.”

Eligible depositors have been asked to contact the representatives of the director, Claims Resolution Department of the NDIC in any of the centres or zonal offices in Abuja, Lagos, Enugu, Benin, Kano, Ilorin, Bauchi, Sokoto, Yola and Port Harcourt.

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