By Bronson Jayamanna
NIGERIA (CWBN)_ The Central Bank of Nigeria (CBN) recently suspended the operating licenses of 42 microfinance banks in the country. This was made public via a statement from the Nigeria Deposit Insurance Corporation’s (NDIC) website, which read “NOTICE OF CLOSURE OF 42 MICROFINANCE BANKS (MFBs).”
The statement went on to note that the operating licenses had “been revoked by the Central Bank of Nigeria (CBN) effective 12th November, 2020”. The NDIC furthermore claimed that it was “the official Liquidator of the banks whose licenses were recently revoked” and that they were in the process of closing the banks listed by the CBN and paying the insured Depositors. The NDIC requested 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”.
According to the NDIC website, the list of microfinance banks being suspended are as follows:
HEDGEWORTH MFB
FUTURE GROWTH MFB
BAGWAI MFB
ERE CITY MFB
CAFON MFB
AKCOFED MFB
GUFAX MFB
PARTNERSHIP MFB
ICB MFB
ONIMA MFB
HOMETRUST (NATIONS) MFB
RINGIM MFB
BIGTHANA MFB
ROGO MFB
MAKODA MFB
TAKAI MFB
BEBEJI MFB
AJINGI MFB
GARKO MFB
KANGIWA MFB
AUGIE MFB
MOPA MFB
SOLID BASE MFB
ULTIMATE BENEFIT MFB
OVIDI MFB
KIRFI MFB
CREDIT EXPRESS MFB
KING SOLOMON MFB
RIGGS MFB
BILLIONAIRE BLUE BRICKS MFB
SUSU MFB
WEALTHSTREAM MFB
AGUDA TITUN MFB
SAPPHIRE MFB
METRO MFB
MOUNTAIN TOP MFB
UNYOGBA MFB
WAPO MFB
IBOGUN MFB
KOREDE MFB
AHETOU MFB
FUFORE MFB
