CBN Revokes Operating Licenses Of 132 MFBs, Others (FULL LIST)

Published

1 week ago

May 24, 2023

The Central Bank of Nigeria has revoked the operating licenses of 132 Microfinance banks, four primary mortgage banks and three finance companies in Nigeria.

The Official Gazette of Nigeria, obtained from CBN’s website, disclosed this on Tuesday.

The publication stated that the licenses of the financial institutions and companies were revoked because they ceased to carry on their business in Nigeria for a period of six months.

The country’s apex bank said that the institutions and companies failed to fulfil or comply with the conditions with which their licenses were given.

It added that the revocation of the institution’s and companies’ licenses is in line with the provision of the Banks and Other Financial Institutions Act, BOFIA 2020, Section 12, Act No.5.

See full list:

1. ATLAS MICROFINANCE BANK 2. BLUEWHALES MICROFINANCE BANK

3. EVEREST MICROFINANCE BANK

4. IGANGAN MICROFINANCE BANK

5. MAINSAIL MICROFINANCE BANK

6. MERIT MICROFINANCE BANK

7. MINNA MICROFINANCE BANK

8. MUSHARAKA MICROFINANCE BANK

9. NOPOV MICROFINANCE BANK

10. OHON MICROFINANCE BANK

11. PREMIUM MICROFINANCE BANK

12. ROYAL MICROFINANCE BANK

13. STATESMAN MICROFINANCE BANK

14. SUISSE MICROFINANCE BANK

15. VIBRANT MICROFINANCE BANK

16. VIRTUE MICROFINANCE BANK

17. ZAMARE MICROFINANCE BANK

18. NORTH CAPITAL MICROFINANCE BANK

19. CHIDERA MICROFINANCE BANK

20. EXCELLENT MICROFINANCE BANK

21. NI’IMA MICROFINANCE BANK

22. COSMOPOLITAN MICROFINANCE BANK

23. PROGRESSIVE LINK MICROFINANCE BANK

24. TRUST ONE (FOMERLY DESMONARCHY)

25. EKUOMBE MICROFINANCE BANK

26. FIRST INDEX MICROFINANCE BANK

27. OLA MICROFINANCE BANK

28. ULI MICROFINANCE BANK

29. VERDANT MICROFINANCE BANK

30. AGULERI MICROFINANCE BANK LIMITED

31. APEKS MICROFINANCE BANK LIMITED

32. FAHIMTA MICROFINANCE BANK LIMITED

33. MANNY MICROFINANCE BANK LIMITED

34. REALITY MICROFINANCE BANK LIMITED

35. SURBPOLITAN MICROFINANCE BANK LIMITED

36. ONYX MICROFINANCE BANK LIMITED

37. OSINA MICROFINANCE BANK LIMITED

38. OLOFIN-OWENA MICROFINANCE BANK LIMITED

39. ZIKADO MICROFINANCE BANK LIMITED

40. PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED

41. PENIEL MICROFINANCE BANK LIMITED

42. TARABA MICROFINANCE BANK LIMITED

43. BRASS MICROFINANCE BANK LIMITED

44. MICHIKA MICROFINANCE BANK LIMITED

45. NDIAGU MICROFINANCE BANK LIMITED

46. NORTHBRIDGE MICROFINANCE BANK LIMITED

47. FCT MICROFINANCE BANK LIMITED

48. OMU-ARAN MICROFINANCE BANK LIMITED

49. CHERISH MICROFINANCE BANK LIMITED

50. BIPC MICROFINANCE BANK LIMITED

51. DANELS GLOBAL MICROFINANCE BANK LIMITED

52. BANCORP MICROFINANCE BANK LIMITED

53. MANNA MICROFINANCE BANK LIMITED

54. MONEYWISE MICROFINANCE BANK LIMITED

55. MERCURY MICROFINANCE BANK LIMITED

56. NEW AGE MICROFINANCE BANK LIMITED

57. PEARL MICROFINANCE BANK LIMITED

58. ZAWADI MICROFINANCE BANK LIMITED

59. SEED CAPITAL MICROFINANCE BANK LIMITED

60. EDUEK MICROFINANCE BANK LIMITED

61. EKSU MICROFINANCE BANK LIMITED

62. DAKINGARI MICROFINANCE BANK LIMITED

63. OGOJA MICROFINANCE BANK LIMITED

64. NWABOSI MICROFINANCE BANK LIMITED

65. NUTURE MICROFINANCE BANK LIMITED

66. ACTIVE POINT MICROFINANCE BANK LIMITED

67. AMOYE MICROFINANCE BANK LIMITED

68. BOLUWADURO MICROFINANCE BANK LIMITED

69. IYEDE MICROFINANCE BANK LIMITED

70. MAYFAIR MICROFINANCE BANK LIMITED

71. CALABAR MICROFINANCE BANK LIMITED

72. IGHOMO MICROFINANCE BANK LIMTED

73. HACKMAN MICROFINANCE BANK LIMITED

74. IDESE MICROFINANCE BANK LIMITED

75. BRIDGEWAY MICROFINANCE BANK LIMITED

76. GRASSROOT MICROFINANCE BANK LIMITED

77. SURELIFE MICROFINANCE BANK LIMITED

78. TIJARAH MICROFINANCE BANK LIMITED

79. IC-GLOBAL MICROFINANCE BANK LIMITED

80. EJIAMATU MICROFINANCE BANK LIMITED

81. BRIYTH COVENANT MICROFINANCE BANK LIMITED

82. NANKA MICROFINANCE BANK LIMITED

83. CUB MICROFINANCE BANK LIMITED

84. BFL MICROFINANCE BANK LIMITED

85. UMUNNE MICROFINANCE BANK LIMITED

86. OROKE MICROFINANCE BANK

87. ALKALERI MICROFINANCE BANK LIMITED

88. CROWNED EAGLE MICROFINANCE BANK LIMITED

89. UNIFA MICROFINANCE BANK LIMITED

90. DADINKOWA MICROFINANCE BANK LIMITED

91. IFESOWAPO MICROFINANCE BANK LIMITED

92. OAF MICROFINANCE BANK LIMITED

93. BAMA MICROFINANCE BANK LIMITED

94. NGALA MICROFINANCE BANK LIMITED

95. IWOAMA MICROFINANCE BANK LIMITED

96. KADA MICROFINANCE BANK LIMITED

97. KEFFI MICROFINANCE BANK LIMITED

98. NUT-ENDWELL MICROFINANCE BANK LIMITED

99. FIRST MULTIPLE MICROFINANCE BANK LIMITED

100. SBDC MICROFINANCE BANK LIMITED

101. OROS CAPITAL MICROFINANCE BANK LIMITED, OZIZZA MICROFINANCE BANK LIMITED B 465

103. PRIMERA CREDIT MICROFINANCE BANK LIMITED

104. IFEANYICHUKWU MICROFINANCE BANK LIMITED

105. IHIOMA MICROFINANCE BANK LIMITED

106. JOSAD MICROFINANCE BANK LIMITED

107. AKPO MICROFINANCE BANK LIMITED

108. AIYEPE MICROFINANCE BANK LIMITED

109. ABC MICROFINANCE BANK LIMITED

110. STAR MICROFINANCE BANK LIMITED

111. PURPLE MONEY MICROFINANCE BANK LIMITED

112. UTUH MICROFINANCE BANK LIMITED

113. STALLION MICROFINANCE BANK LIMITED

114. KJL MICROFINANCE BANK LIMITED

115. CREDIT AFRIQUE MICROFINANCE BANK LIMITED

116. COWRIES MICROFINANCE BANK LIMITED

117. LAWEBOD MICROFINANCE BANK LIMITED

118. MABINAS MICROFINANCE BANK LIMITED

119. BUSINESS SUPPORT MICROFINANCE BANK LIMITED

120. OGBE-AHIARA MICROFINANCE BANK LIMITED

121. OLOFIN MICROFINANCE BANK LIMITED

122. OBOSI MICROFINANCE BANK LIMITED

123. FIYINFOLU MICROFINANCE BANK LIMITED

124. BISHOPGATE MICROFINANCE BANK LIMITED

125. AWKA MICROFINANCE BANK LIMITED,

126. ZIGATE MICROFINANCE BANK LIMITED

127. ESAN MICROFINANCE BANK LIMITED

128. ENUGU-UKWU MICROFINANCE BANK LIMITED

129. ECHO MICROFINANCE BANK LIMITED

130. ALLY MICROFINANCE BANK LIMITED

131. NETWORK MICROFINANCE BANK LIMITED

132. AWGBU MICROFINANCE BANK LIMITED.

LIST OF FINANCE COMPANIES LICENCES REVOKED:

1. HHL Invest & Trust Limited

2. TFS Finance Limited

3. Treasures & Trust Limited

LIST OF PRIMARY MORTGAGE BANKS LICENCES REVOKED

1. RESORT SAVINGS & LOANS 2. SAFETRUST MORTGAGE BANK 3. ADAMAWA SAVINGS & LOANS 4. KOGI SAVINGS & LOANS

BREAKING: NNPCL Confirms Increase In Fuel Pump Price

Published

2 hours ago

May 31, 2023

Editor

The Nigerian Petroleum Company Limited (NNPC) has confirmed the adjustment of the pump price of PPM across its retail outlets, citing that the decision was hinged on the current market realities.

Recall report earlier had that the downstream sector of Nigeria’s petroleum industry was thrown into confusion as a document puts the retail price of petrol at over N500 per litre.

The document, obtained by Vanguard, put petrol price in Abuja, Lagos and Kano at N537, N488 and N540 per litre respectively.

Details soon…

BREAKING: Confusion As Document Puts Petrol Price At Over N500 Per Litre

Published

3 hours ago

May 31, 2023

Editor

The downstream sector of Nigeria’s petroleum industry has been thrown into confusion as a document puts the retail price of petrol at over N500 per litre.

The document, obtained by Vanguard, put petrol price in Abuja, Lagos and Kano at N537, N488 and N540 per litre respectively.

The Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Mr. Farouk Ahmed, whose agency regulates sector activities, did not respond when Vanguard called repeatedly for confirmation.

But an oil marketer, who pleaded anonymity, dismissed it as fake, adding: “How can any credible business base its pricing on an obviously fake random list circulating on social media?”

Business

Fuel Subsidy Gulped $10bn In 2022 – Shettima

Published

21 hours ago

May 30, 2023

Editor

Vice President Kashim Shettima has revealed that $10 billion was spent by the immediate past administration of Muhammadu Buhari subsidizing fuel in 2022.

He said the current administration was bent on exiting fuel subsidy because of its negative implications for the country as a whole.

Shettima reiterated his principal’s position on Tuesday, while reporting for duties on his first day in office at the Presidential Villa Abuja.

He said the current administration anticipated that there will be fierce opposition to its decision to remove fuel subsidy.

His words, “The President has already made pronouncements yesterday on the issue of the fuel subsidy. The truth of the matter is that, it is either we get rid of the subsidy or the fuel subsidy gets rid of the Nigerian nation.

“In 2022, we spent $10 billion subsidizing the ostentatious lifestyle of the upper class of society because you and I benefit 90% from the oil subsidy. The poor 40% of Nigerians benefit very little and we know the consequences of unveiling a masquerade.

“We will get fierce opposition from those benefiting from the oil subsidy scam, but where there is a will, there is a way. Be rest assured that our president is a man of strong will and conviction.

“In the fullness of time, you will appreciate his noble intentions for the nation. The issue of fuel subsidy will be frontally addressed. The earlier we do so, the better.’’