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List of microfinance banks licensed by CBN Nigeria

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/NNameAddressStateStatus
1AACB MFBNnewi/Agulu Road, Adazi Ani, Anambra stateAnambraState MFB
2AB MFB9, Oba Akran Road, Ikeja LagosLagosNational mfb
3ABC MFBMission Road, Okada, Orin North-East LGA, Edo StateEdoTier 2 Unit
4ABESTONE MFBCommerce House, Beside Government House, Igbein Hills, AbeokutaOgunTier 1 Unit
5ABIA STATE UNIVERSITY MFB LTDUturu, Isuikwuato, Abia StateAbiaState MFB
6ABIGI MFB28, Moborode Odofin St. Abigi Ijebu Waterside, Ogun StateOgunTier 2 Unit
7ABOVE ONLY MFBBenson Idahosa University CampusUgbor, Benin CityEdoTier 1 Unit
8ABUBAKAR TAFAWA BALEWA UNIVERSITY MFBAbubakar Tafawa Balewa University, Yelwa CampusBauchiTier 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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