List of microfinance banks licensed by CBN Nigeria
September 6, 2023
List of microfinance banks – The arrival of microfinance banks in Nigeria undoubtedly gave room to rural empowerment, financial inclusiveness, savings and business development.
Their contributions will never go unnoticed, if not for anything, the ease of accessing loan and the rate at which they make such funds available without necessarily asking for collateral in most cases.
This apparently made them a go to source for small and medium enterprises in Nigeria.
To this end, microfinance banks have continued to spring up in Nigeria, with an aim to further transform businesses by making funds available to small operators who may have need for capital support etc.
Read also: How to start and run a successful Microfinance bank in Nigeria
However, to operate as a microfinance bank in Nigeria, such institution should have obtained requisite approval from the apex bank (CBN).
List of Microfinance banks licensed by CBN in Nigeria
S/N | Name | Address | State | Status |
1 | AACB MFB | Nnewi/Agulu Road, Adazi Ani, Anambra state | Anambra | State MFB |
2 | AB MFB | 9, Oba Akran Road, Ikeja Lagos | Lagos | National mfb |
3 | ABC MFB | Mission Road, Okada, Orin North-East LGA, Edo State | Edo | Tier 2 Unit |
4 | ABESTONE MFB | Commerce House, Beside Government House, Igbein Hills, Abeokuta | Ogun | Tier 1 Unit |
5 | ABIA STATE UNIVERSITY MFB LTD | Uturu, Isuikwuato, Abia State | Abia | State MFB |
6 | ABIGI MFB | 28, Moborode Odofin St. Abigi Ijebu Waterside, Ogun State | Ogun | Tier 2 Unit |
7 | ABOVE ONLY MFB | Benson Idahosa University CampusUgbor, Benin City | Edo | Tier 1 Unit |
8 | ABUBAKAR TAFAWA BALEWA UNIVERSITY MFB | Abubakar Tafawa Balewa University, Yelwa Campus | Bauchi | Tier 1 Unit |
Follow this link to see all the approved Microfinance banks in Nigeria.
Top microfinance banks in Nigeria
The below microfinance banks were selected in no particular order, however track records, service delivery, ease of doing business and customer experience form the basis which they made the list.
- Addosser MFB
- LAPO MFB
- Mainstreet MFB
- Accion MFB
- AB MFB
- Fina Trust MFB
- Microfinance mutual trust
- FINCA MFB
- Fortis MFB
- Rehoboth MFB
- Altitude MFB
- MFP MFB
- FBN MFB
- Mutual trust MFB among others.
Closed Microfinance banks in Nigeria
It could be recalled that on 12th November 2020, The Central Bank of Nigeria passed a circular communicating its decision to have closed 42 microfinance banks/revoked
Below is the list of microfinance banks affected
- 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
Conclusion
Doing business has never been easier with microfinance banks in Nigeria, kindly go through the list and see if any of the listed will be ideal for you, considering location and your financial requirement.
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2 comments on “List of microfinance banks licensed by CBN Nigeria”
[…] Grooming microfinance bank is a state licensed microfinance bank in Oyo state duly registered with the CAC as well as the National Association of Microfinance Banks (NAMB) in Nigeria. […]
[…] Read also: List of microfinance banks licensed by CBN Nigeria […]