The Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of concluding the liquidation activities of 89 closed Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) following their successful acquisition by new owners under the Purchase and Assumption (P&A) resolution model executed by the Corporation.
- +NDIC moves to conclude liquidation of 89 failed banks
- +MOUAU VASMUCS MICROFINANCE BANK LIMITED
- +MOVASCO-OP MICROFINANCE BANK LIMITED
- +EDUEK MICROFINANCE BANK LIMITED
- +MINT MICROFINANCE BANK LIMITED
- +UFORO MICROFINANCE BANK LIMITED
- +NSEHE MICROFINANCE BANK LIMITED
- +VISTA MICROFINANCE BANK LIMITED
- +ZAWADI MICROFINANCE BANK LIMITED
- +ZITRA MICROFINANCE BANK LIMITED
- +AKPO MICROFINANCE BANK LIMITED
- +OGANIRU MICROFINANCE BANK LIMITED
- +ANYA MICROFINANCE BANK LIMITED
- +PIONNER (DIOHAUNOEGO) MICROFINANCE BANK LIMITED
- +AWKA MICROFINANCE BANK LIMITED
- +PLANTINUM MICROFINANCE BANK LIMITED
- +ENUGWU-UKWU MICROFINANCE BANK LIMITED
- +UMUNRI MICROFINANCE BANK LIMITED
- +ISI-AKU MICROFINANCE BANK LIMITED
- +ISIEGO MICROFINANCE BANK LIMITED
- +OBOSI MICROFINANCE BANK LIMITED
- +ADIKE MICROFINANCE BANK LIMITE
- +UNICOOP MICROFINANCE BANK LIMITED
- +UMEJEI MICROFINANCE BANK LIMITED
- +KOLISA MICROFINANCE BANK LIMITED
- +OKADA MICROFINANCE BANK LIMITED
- +EHOR MICROFINANCE BANK LIMITED
- +EHINOMA MICROFINANCE BANK LIMITED
- +ESAN MICROFINANCE BANK LIMITED
- +AMOYE MICROFINANCE BANK LIMITED
- +IKERE MICROFINANCE BANK LIMITED
- +GOLDENFUNDS MICROFINANCE BANK LIMITED
- +ROYAL EXCELLENT MICROFINANCE BANK LIMITED
- +EVANGEL MICROFINANCE BANK LIMITED
- +VANGEL MICROFINANCE BANK LIMITED
- +GREENLAND MICROFINANCE BANK LIMITED
- +ARISE MICROFINANCE BANK LIMITED
- +SHINE MICROFINANCE BANK LIMITED
- +BANCCORP MICROFINANCE BANK LIMITED
- +BLOC MICROFINANCE BANK LIMITED
- +BISHOPGATE MICROFINANCE BANK LIMITED
- +ADVANCLY MICROFINANCE BANK LIMITED
- +BRIDGEWAY MICROFINANCE BANK LIMITED
- +BWAY MICROFINANCE BANK LIMITED
- +BRIYTH COVENANT MICROFINANCE BANK LIMITED
- +WESTON–CHARIS MICROFINANCE BANK LIMITED
- +CREDIT AFRIQUE MICROFINANCE BANK LIMITED
- +KAIZEN MICROFINANCE BANK LIMITED
- +ECHO MICROFINANCE BANK LIMITED
- +PLUS ONE MICROFINANCE BANK LIMITED
- +EYOWO MICROFINANCE BANK LIMITED
- +ENTREPRENEUR MICROFINANCE BANK LIMITED
- +FIYINFOLU MICROFINANCE BANK LIMITED
- +TEERUS MICROFINANCE BANK LIMITED
- +HACKMAN MICROFINANCE BANK LIMITED
- +LIGHTWAY MICROFINANCE BANK LIMITED
- +HALMOND MICROFINANCE BANK LIMITED
- +CASA MICROFINANCE BANK LIMITED
- +MANNA MICROFINANCE BANK LIMITED
- +SAVESIMPLE MICROFINANCE BANK LIMITED
- +MANNY MICROFINANCE BANK LIMITED
- +SILVEREND MICROFINANCE BANK LIMITED
- +MAYFAIR MICROFINANCE BANK LIMITED
- +OPTIMUN GLOBAL MICROFINANCE BANK LIMITED
- +MERCURY MICROFINANCE BANK LIMITED
- +DASH MICROFINANCE BANK LIMITED
- +MONEYWISE MICROFINANCE BANK LIMITED
- +INDULGE MICROFINANCE BANK LIMITED
- +NETWORK MICROFINANCE BANK LIMITED
- +UNICORN MICROFINANCE BANK LIMITED
- +NUTURE MICROFINANCE BANK LIMITED
- +MBAG MICROFINANCE BANK LIMITED
- +ONYX MICROFINANCE BANK LIMITED
- +DIGITVANT MICROFINANCE BANK LIMITED
- +OROS CAPITAL MICROFINANCE BANK LIMITED
- +EZPAY MICROFINANCE BANK LIMITED
- +PENIEL MICROFINANCE BANK LIMITED
- +ZIRCON MICROFINANCE BANK LIMITED
- +PRIMERA MICROFINANCE BANK LIMITED
- +KOINS MICROFINANCE BANK LIMITED
- +PURPLE MONEY MICROFINANCE BANK LIMITED
- +WILLOWS MICROFINANCE BANK LIMITED
- +STALLION MICROFINANCE BANK LIMITED
- +SPRINGFIELD MICROFINANCE BANK LIMITED
- +SUNRISE MICROFINANCE BANK LIMITED
- +STABLE MICROFINANCE BANK LIMITED
- +SURBPOLITAN MICROFINANCE BANK LIMITED
- +CHARIS MICROFINANCE BANK LIMITED
- +VERDANT-CAPITAL MICROFINANCE BANK LIMITED
- +VERDANT MICROFINANCE BANK LIMITED
- +ZIKADO MICROFINANCE BANK LIMITED
- +AVEST MICROFINANCE BANK LIMITED
- +AIYEPE MICROFINANCE BANK LIMITED
- +SPRINGVILLE MICROFINANCE BANK LIMITED
- +INTERLAND MICROFINANCE BANK LIMITED
- +NEXTON MICROFINANCE BANK LIMITED
- +STAR MICROFINANCE BANK LIMITED
- +SOSA MICROFINANCE BANK LIMITED
- +ZIGATE MICROFINANCE BANK LIMITED
- +KATSU MICROFINANCE BANK LIMITED
- +FASILIDAPO MICROFINANCE BANK LIMITED
- +OURPASS MICROFINANCE BANK LIMITED
- +NEWAGE MICROFINANCE BANK LIMITED
- +CASHBRITE MICROFINANCE BANK LIMITED
- +BOLUWADURO MICROFINANCE BANK LIMITED
- +AFOLE MICROFINANCE BANK LIMITED
- +BANKEASY MICROFINANCE BANK LIMITED
- +IDESE MICROFINANCE BANK LIMITED
- +SOFAJ MICROFINANCE BANK LIMITED
- +OLOFIN MICROFINANCE BANK LIMITED
- +OLOFIN-OWENA MICROFINANCE BANK LIMITED
- +AVANTUS MICROFINANCE BANK LIMITED
- +OSOGBO MICROFINANCE BANK LIMITED
- +BOLD MICROFINANCE BANK LIMITED
- +FIRSTINDEX MICROFINANCE BANK LIMITED
- +RICIA CAPITAL MICROFINANCE BANK LIMITED
- +JOINT FARMERS MICROFINANCE BANK LIMITED
- +TELLERONE FI MICROFINANCE BANK LIMITED
- +OLOGBON MICROFINANCE BANK LIMITED
- +AKATA MICROFINANCE BANK LIMITED
- +IWOAMA MICROFINANCE BANK LIMITED
- +MAUTECH MICROFINANCE BANK LIMITED
- +MODIBBO ADAMA UNIVERSITY MICROFINANCE BANK LIMITED
- +MICHIKA MICROFINANCE BANK LIMITED
- +PREMIER MICROFINANCE BANK LIMITED
- +BIYAMA MICROFINANCE BANK LIMITED
- +DABTIKIR MICROFINANCE BANK LIMITED
- +MUSHARAKA MICROFINANCE BANK LIMITED
- +MUAMALA MICROFINANCE BANK LIMITED
- +DANGIZHI MICROFINANCE BANK LIMITED
- +METRO EXPRESS NETWORK MICROFINANCE BANK LIMITED
- +EDUMANA MICROFINANCE BANK LIMITED
- +EDUSOKO MICROFINANCE BANK LIMITED
- +MAINSAIL MICROFINANCE BANK LIMITED
- +DUXBANK MICROFINANCE BANK LIMITED
- +ALLY MICROFINANCE BANK LIMITED
- +ULTRAVIOLET MICROFINANCE BANK LIMITED
- +BUSINESS SUPPORT MICROFINANCE BANK LIMITED
- +TRANSPAY MICROFINANCE BANK LIMITED
- +THE DANIELS GLOBAL MICROFINANCE BANK LIMITED
- +SWIFTTRUST MICROFINANCE BANK LIMITED
- +FIRST MULTIPLE MICROFINANCE BANK LIMITED
- +KOBOWEB MICROFINANCE BANK LIMITED
- +GRASSROOTS MICROFINANCE BANK LIMITED
- +BLUEWHALES MICROFINANCE BANK LIMITED
- +ELLINGTON MICROFINANCE BANK LIMITED
- +JOSAD MICROFINANCE BANK LIMITED
- +PAYREP MICROFINANCE BANK LIMITED
- +BIPC MICROFINANCE BANK LIMITED
- +NOVUS MICROFINANCE BANK LIMITED
- +JAMIS MICROFINANCE BANK LIMITED
- +STRAIT SAHARA MICROFINANCE BANK LIMITED
- +NARICT MICROFINANCE BANK LIMITED
- +BASAWA MICROFINANCE BANK LIMITED
- +FAHIMTA MICROFINANCE BANK LIMITED
- +CEDRUS MICROFINANCE BANK LIMITED
- +MABINAS MICROFINANCE BANK LIMITED
- +AL’HIKMA MICROFINANCE BANK LIMITED
- +NEW WORLD MICROFINANCE BANK LIMITED
- +BKD NEW MICROFINANCE BANK LIMITED
- +NORTHBRIDGE MICROFINANCE BANK LIMITED
- +ESTEEM MICROFINANCE BANK LIMITED
The 89 closed banks were part of the 179 MFBs and 4 PMBs whose banking licenses were revoked by the Central Bank of Nigeria (CBN) on May 22nd and 23rd, 2023.
Sade Ogunleye
The 89 closed banks were part of the 179 MFBs and 4 PMBs whose banking licenses were revoked by the Central Bank of Nigeria (CBN) on May 22nd and 23rd, 2023. Through the Purchase and Assumption agreements, 89 new eligible institutions were issued licenses by the CBN, to acquire the assets and liabilities of the defunct banks and have since commenced operations under new names.
In order to legally conclude the liquidation process in accordance with the provisions of its enabling Act and other relevant laws, the NDIC in its capacity as the Liquidator of the defunct banks, will be presenting applications to various Judicial divisions of the Federal High Court to obtain orders of dissolution for the closed banks and to release the Corporation as Liquidator.
The list of the defunct banks and assuming new banks are as follows:
MOUAU VASMUCS MICROFINANCE BANK LIMITED
MOVASCO-OP MICROFINANCE BANK LIMITED
EDUEK MICROFINANCE BANK LIMITED
MINT MICROFINANCE BANK LIMITED
UFORO MICROFINANCE BANK LIMITED
NSEHE MICROFINANCE BANK LIMITED
VISTA MICROFINANCE BANK LIMITED
ZAWADI MICROFINANCE BANK LIMITED
ZITRA MICROFINANCE BANK LIMITED
AKPO MICROFINANCE BANK LIMITED
OGANIRU MICROFINANCE BANK LIMITED
ANYA MICROFINANCE BANK LIMITED
PIONNER (DIOHAUNOEGO) MICROFINANCE BANK LIMITED
AWKA MICROFINANCE BANK LIMITED
PLANTINUM MICROFINANCE BANK LIMITED
ENUGWU-UKWU MICROFINANCE BANK LIMITED
UMUNRI MICROFINANCE BANK LIMITED
ISI-AKU MICROFINANCE BANK LIMITED
ISIEGO MICROFINANCE BANK LIMITED
OBOSI MICROFINANCE BANK LIMITED
ADIKE MICROFINANCE BANK LIMITE
UNICOOP MICROFINANCE BANK LIMITED
UMEJEI MICROFINANCE BANK LIMITED
KOLISA MICROFINANCE BANK LIMITED
OKADA MICROFINANCE BANK LIMITED
EHOR MICROFINANCE BANK LIMITED
EHINOMA MICROFINANCE BANK LIMITED
ESAN MICROFINANCE BANK LIMITED
AMOYE MICROFINANCE BANK LIMITED
IKERE MICROFINANCE BANK LIMITED
GOLDENFUNDS MICROFINANCE BANK LIMITED
ROYAL EXCELLENT MICROFINANCE BANK LIMITED
EVANGEL MICROFINANCE BANK LIMITED
VANGEL MICROFINANCE BANK LIMITED
GREENLAND MICROFINANCE BANK LIMITED
ARISE MICROFINANCE BANK LIMITED
SHINE MICROFINANCE BANK LIMITED
BANCCORP MICROFINANCE BANK LIMITED
BLOC MICROFINANCE BANK LIMITED
BISHOPGATE MICROFINANCE BANK LIMITED
ADVANCLY MICROFINANCE BANK LIMITED
BRIDGEWAY MICROFINANCE BANK LIMITED
BWAY MICROFINANCE BANK LIMITED
BRIYTH COVENANT MICROFINANCE BANK LIMITED
WESTON–CHARIS MICROFINANCE BANK LIMITED
CREDIT AFRIQUE MICROFINANCE BANK LIMITED
KAIZEN MICROFINANCE BANK LIMITED
ECHO MICROFINANCE BANK LIMITED
PLUS ONE MICROFINANCE BANK LIMITED
EYOWO MICROFINANCE BANK LIMITED
ENTREPRENEUR MICROFINANCE BANK LIMITED
FIYINFOLU MICROFINANCE BANK LIMITED
TEERUS MICROFINANCE BANK LIMITED
HACKMAN MICROFINANCE BANK LIMITED
LIGHTWAY MICROFINANCE BANK LIMITED
HALMOND MICROFINANCE BANK LIMITED
CASA MICROFINANCE BANK LIMITED
MANNA MICROFINANCE BANK LIMITED
SAVESIMPLE MICROFINANCE BANK LIMITED
MANNY MICROFINANCE BANK LIMITED
SILVEREND MICROFINANCE BANK LIMITED
MAYFAIR MICROFINANCE BANK LIMITED
OPTIMUN GLOBAL MICROFINANCE BANK LIMITED
MERCURY MICROFINANCE BANK LIMITED
DASH MICROFINANCE BANK LIMITED
MONEYWISE MICROFINANCE BANK LIMITED
INDULGE MICROFINANCE BANK LIMITED
NETWORK MICROFINANCE BANK LIMITED
UNICORN MICROFINANCE BANK LIMITED
NUTURE MICROFINANCE BANK LIMITED
MBAG MICROFINANCE BANK LIMITED
ONYX MICROFINANCE BANK LIMITED
DIGITVANT MICROFINANCE BANK LIMITED
OROS CAPITAL MICROFINANCE BANK LIMITED
EZPAY MICROFINANCE BANK LIMITED
PENIEL MICROFINANCE BANK LIMITED
ZIRCON MICROFINANCE BANK LIMITED
PRIMERA MICROFINANCE BANK LIMITED
KOINS MICROFINANCE BANK LIMITED
PURPLE MONEY MICROFINANCE BANK LIMITED
WILLOWS MICROFINANCE BANK LIMITED
STALLION MICROFINANCE BANK LIMITED
SPRINGFIELD MICROFINANCE BANK LIMITED
SUNRISE MICROFINANCE BANK LIMITED
STABLE MICROFINANCE BANK LIMITED
SURBPOLITAN MICROFINANCE BANK LIMITED
CHARIS MICROFINANCE BANK LIMITED
VERDANT-CAPITAL MICROFINANCE BANK LIMITED
VERDANT MICROFINANCE BANK LIMITED
ZIKADO MICROFINANCE BANK LIMITED
AVEST MICROFINANCE BANK LIMITED
AIYEPE MICROFINANCE BANK LIMITED
SPRINGVILLE MICROFINANCE BANK LIMITED
INTERLAND MICROFINANCE BANK LIMITED
NEXTON MICROFINANCE BANK LIMITED
STAR MICROFINANCE BANK LIMITED
SOSA MICROFINANCE BANK LIMITED
ZIGATE MICROFINANCE BANK LIMITED
KATSU MICROFINANCE BANK LIMITED
FASILIDAPO MICROFINANCE BANK LIMITED
OURPASS MICROFINANCE BANK LIMITED
NEWAGE MICROFINANCE BANK LIMITED
CASHBRITE MICROFINANCE BANK LIMITED
BOLUWADURO MICROFINANCE BANK LIMITED
AFOLE MICROFINANCE BANK LIMITED
BANKEASY MICROFINANCE BANK LIMITED
IDESE MICROFINANCE BANK LIMITED
SOFAJ MICROFINANCE BANK LIMITED
OLOFIN MICROFINANCE BANK LIMITED
OLOFIN-OWENA MICROFINANCE BANK LIMITED
AVANTUS MICROFINANCE BANK LIMITED
OSOGBO MICROFINANCE BANK LIMITED
BOLD MICROFINANCE BANK LIMITED
FIRSTINDEX MICROFINANCE BANK LIMITED
RICIA CAPITAL MICROFINANCE BANK LIMITED
JOINT FARMERS MICROFINANCE BANK LIMITED
TELLERONE FI MICROFINANCE BANK LIMITED
OLOGBON MICROFINANCE BANK LIMITED
AKATA MICROFINANCE BANK LIMITED
IWOAMA MICROFINANCE BANK LIMITED
MAUTECH MICROFINANCE BANK LIMITED
MODIBBO ADAMA UNIVERSITY MICROFINANCE BANK LIMITED
MICHIKA MICROFINANCE BANK LIMITED
PREMIER MICROFINANCE BANK LIMITED
BIYAMA MICROFINANCE BANK LIMITED
DABTIKIR MICROFINANCE BANK LIMITED
MUSHARAKA MICROFINANCE BANK LIMITED
MUAMALA MICROFINANCE BANK LIMITED
DANGIZHI MICROFINANCE BANK LIMITED
METRO EXPRESS NETWORK MICROFINANCE BANK LIMITED
EDUMANA MICROFINANCE BANK LIMITED
EDUSOKO MICROFINANCE BANK LIMITED
MAINSAIL MICROFINANCE BANK LIMITED
DUXBANK MICROFINANCE BANK LIMITED
ALLY MICROFINANCE BANK LIMITED
ULTRAVIOLET MICROFINANCE BANK LIMITED
BUSINESS SUPPORT MICROFINANCE BANK LIMITED
TRANSPAY MICROFINANCE BANK LIMITED
THE DANIELS GLOBAL MICROFINANCE BANK LIMITED
SWIFTTRUST MICROFINANCE BANK LIMITED
FIRST MULTIPLE MICROFINANCE BANK LIMITED
KOBOWEB MICROFINANCE BANK LIMITED
GRASSROOTS MICROFINANCE BANK LIMITED
BLUEWHALES MICROFINANCE BANK LIMITED
ELLINGTON MICROFINANCE BANK LIMITED
JOSAD MICROFINANCE BANK LIMITED
PAYREP MICROFINANCE BANK LIMITED
BIPC MICROFINANCE BANK LIMITED
NOVUS MICROFINANCE BANK LIMITED
JAMIS MICROFINANCE BANK LIMITED
STRAIT SAHARA MICROFINANCE BANK LIMITED
NARICT MICROFINANCE BANK LIMITED
BASAWA MICROFINANCE BANK LIMITED
FAHIMTA MICROFINANCE BANK LIMITED
CEDRUS MICROFINANCE BANK LIMITED
MABINAS MICROFINANCE BANK LIMITED
AL’HIKMA MICROFINANCE BANK LIMITED
NEW WORLD MICROFINANCE BANK LIMITED
BKD NEW MICROFINANCE BANK LIMITED
NORTHBRIDGE MICROFINANCE BANK LIMITED
ESTEEM MICROFINANCE BANK LIMITED
