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Nigeria: 132 microfinance banks’ licences revoked {See List}

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The Central Bank of Nigeria (CBN) has revoked the operating licences of no fewer than 132 microfinance banks, four primary mortgage banks, and three finance companies in the country.

It was disclosed in the official gazette of the Federal Government, published on the website of the CBN on Tuesday.

According to the CBN, the financial institutions “failed to fulfill or comply with the conditions subject to which their licences were granted, or failed to comply with the obligations imposed upon them by the Central Bank of Nigeria in accordance with the provisions of Banks and Other Financial Institutions Act (BOFIA) 2020, Act No. 5.”

The four primary mortgage banks whose licences were revoked are Resort Savings & Loans, Safe trust Mortgage Bank, Adamawa Savings & Loans, and Kogi Savings & Loans. The finance companies whose licences were revoked include HHL Invest & Trust Limited, TFS Finance Limited, and Treasures & Trust Limited.

Some microfinance banks listed include Blue whales Microfinance Bank, Igangan Microfinance Bank, Mainsail Microfinance Bank, Everest Microfinance Bank, Merit Microfinance Bank, Musharaka Microfinance Bank, Nopov Microfinance Bank, among others.

CBN Governor, Godwin Emefiele, said the licences were revoked in the exercise of the powers conferred on the apex bank under Section 12 of BOFIA 2020, Act No. 5.

See below the full list of the affected banks and financial institutions:

ATLAS MICROFINANCE BANK

BLUEWHALES MICROFINANCE BANK

EVEREST MICROFINANCE BANK

IGANGAN MICROFINANCE BANK

MAINSAIL MICROFINANCE BANK

MERIT MICROFINANCE BANK

MINNA MICROFINANCE BANK

MUSHARAKA MICROFINANCE BANK

NOPOV MICROFINANCE BANK

OHON MICROFINANCE BANK

PREMIUM MICROFINANCE BANK

ROYAL MICROFINANCE BANK

STATESMAN MICROFINANCE BANK

SUISSE MICROFINANCE BANK

VIBRANT MICROFINANCE BANK

VIRTUE MICROFINANCE BANK

ZAMARE MICROFINANCE BANK

NORTH CAPITAL MICROFINANCE BANK

CHIDERA MICROFINANCE BANK

EXCELLENT MICROFINANCE BANK

NI’IMA MICROFINANCE BANK

COSMOPOLITAN MICROFINANCE BANK

PROGRESSIVE LINK MICROFINANCE BANK

TRUST ONE (FOMERLY DESMONARCHY)

EKUOMBE MICROFINANCE BANK

FIRST INDEX MICROFINANCE BANK

OLA MICROFINANCE BANK

ULI MICROFINANCE BANK

VERDANT MICROFINANCE BANK

AGULERI MICROFINANCE BANK LIMITED

. APEKS MICROFINANCE BANK LIMITED

FAHIMTA MICROFINANCE BANK LIMITED

MANNY MICROFINANCE BANK LIMITED

REALITY MICROFINANCE BANK LIMITED

SURBPOLITAN MICROFINANCE BANK LIMITED

ONYX MICROFINANCE BANK LIMITED

OSINA MICROFINANCE BANK LIMITED

OLOFIN-OWENA MICROFINANCE BANK LIMITED

ZIKADO MICROFINANCE BANK LIMITED

PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED

PENIEL MICROFINANCE BANK LIMITED

TARABA MICROFINANCE BANK LIMITED

BRASS MICROFINANCE BANK LIMITED

MICHIKA MICROFINANCE BANK LIMITED

NDIAGU MICROFINANCE BANK LIMITED

NORTHBRIDGE MICROFINANCE BANK LIMITED

FCT MICROFINANCE BANK LIMITED

OMU-ARAN MICROFINANCE BANK LIMITED

CHERISH MICROFINANCE BANK LIMITED

BIPC MICROFINANCE BANK LIMITED

DANELS GLOBAL MICROFINANCE BANK LIMITED

BANCORP MICROFINANCE BANK LIMITED

MANNA MICROFINANCE BANK LIMITED

MONEYWISE MICROFINANCE BANK LIMITED

MERCURY MICROFINANCE BANK LIMITED

NEW AGE MICROFINANCE BANK LIMITED

PEARL MICROFINANCE BANK LIMITED

ZAWADI MICROFINANCE BANK LIMITED

SEED CAPITAL MICROFINANCE BANK LIMITED

EDUEK MICROFINANCE BANK LIMITED

EKSU MICROFINANCE BANK LIMITED

DAKINGARI MICROFINANCE BANK LIMITED

OGOJA MICROFINANCE BANK LIMITED

NWABOSI MICROFINANCE BANK LIMITED

NUTURE MICROFINANCE BANK LIMITED

ACTIVE POINT MICROFINANCE BANK LIMITED

AMOYE MICROFINANCE BANK LIMITED

BOLUWADURO MICROFINANCE BANK LIMITED

IYEDE MICROFINANCE BANK LIMITED

MAYFAIR MICROFINANCE BANK LIMITED

CALABAR MICROFINANCE BANK LIMITED

IGHOMO MICROFINANCE BANK LIMTED

HACKMAN MICROFINANCE BANK LIMITED

IDESE MICROFINANCE BANK LIMITED

BRIDGEWAY MICROFINANCE BANK LIMITED

GRASSROOT MICROFINANCE BANK LIMITED

SURELIFE MICROFINANCE BANK LIMITED

TIJARAH MICROFINANCE BANK LIMITED

IC-GLOBAL MICROFINANCE BANK LIMITED

EJIAMATU MICROFINANCE BANK LIMITED

BRIYTH COVENANT MICROFINANCE BANK LIMITED

NANKA MICROFINANCE BANK LIMITED

CUB MICROFINANCE BANK LIMITED

BFL MICROFINANCE BANK LIMITED

UMUNNE MICROFINANCE BANK LIMITED

OROKE MICROFINANCE BANK

ALKALERI MICROFINANCE BANK LIMITED

CROWNED EAGLE MICROFINANCE BANK LIMITED

UNIFA MICROFINANCE BANK LIMITED

DADINKOWA MICROFINANCE BANK LIMITED

IFESOWAPO MICROFINANCE BANK LIMITED

OAF MICROFINANCE BANK LIMITED

BAMA MICROFINANCE BANK LIMITED

NGALA MICROFINANCE BANK LIMITED

IWOAMA MICROFINANCE BANK LIMITED

KADA MICROFINANCE BANK LIMITED

KEFFI MICROFINANCE BANK LIMITED

NUT-ENDWELL MICROFINANCE BANK LIMITED

FIRST MULTIPLE MICROFINANCE BANK LIMITED

SBDC MICROFINANCE BANK LIMITED

OROS CAPITAL MICROFINANCE BANK LIMITED

OZIZZA MICROFINANCE BANK LIMITED

PRIMERA CREDIT MICROFINANCE BANK LIMITED

IFEANYICHUKWU MICROFINANCE BANK LIMITED

IHIOMA MICROFINANCE BANK LIMITED

JOSAD MICROFINANCE BANK LIMITED

AKPO MICROFINANCE BANK LIMITED

AIYEPE MICROFINANCE BANK LIMITED

ABC MICROFINANCE BANK LIMITED

STAR MICROFINANCE BANK LIMITED

PURPLE MONEY MICROFINANCE BANK LIMITED

UTUH MICROFINANCE BANK LIMITED

STALLION MICROFINANCE BANK LIMITED

KJL MICROFINANCE BANK LIMITED

CREDIT AFRIQUE MICROFINANCE BANK LIMITED

COWRIES MICROFINANCE BANK LIMITED

LAWEBOD MICROFINANCE BANK LIMITED

MABINAS MICROFINANCE BANK LIMITED

BUSINESS SUPPORT MICROFINANCE BANK LIMITED

OGBE-AHIARA MICROFINANCE BANK LIMITED

OLOFIN MICROFINANCE BANK LIMITED

OBOSI MICROFINANCE BANK LIMITED

FIYINFOLU MICROFINANCE BANK LIMITED

BISHOPGATE MICROFINANCE BANK LIMITED

AWKA MICROFINANCE BANK LIMITED

ZIGATE MICROFINANCE BANK LIMITED

ESAN MICROFINANCE BANK LIMITED

ENUGU-UKWU MICROFINANCE BANK LIMITED

ECHO MICROFINANCE BANK LIMITED

ALLY MICROFINANCE BANK LIMITED

NETWORK MICROFINANCE BANK LIMITED

AWGBU MICROFINANCE BANK LIMITED

SCHEDULE II

LIST OF FINANCE COMPANIES LICENCES REVOKED

   Name Of Institution

HHL Invest & Trust Limited

TFS Finance Limited

Treasures & Trust Limited

SCHEDULE  III

LIST OF PRIMARY MORTGAGE BANKS LICENCES REVOKED

S/N        Name Of Institution

RESORT SAVINGS & LOANS

SAFETRUST MORTGAGE BANK

ADAMAWA SAVINGS & LOANS

KOGI SAVINGS & LOANS

 

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Oyo South: Oseni Supports Apete Widows With N10m, Promises More Interventions

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has supported widows from Apete, Awotan and neighbouring communities in Ido Local Government Area of Oyo State with N10m, promising more interventions to improve their welfare and livelihoods.

Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives and chairs the House Committee on the Federal Road Maintenance Agency, made the donation on Tuesday during an interaction with hundreds of widows at Awotan, Ibadan.

The meeting was part of his ongoing consultations across Oyo South ahead of the 2027 general elections.

Speaking at the event, Oseni said his support for widows, market women and other vulnerable members of society was not driven solely by politics, but by his personal conviction and faith.

According to him, his own experience of growing up under difficult circumstances had strengthened his resolve to support people facing hardship.

He said, “The more I give, the more God blesses me. I pray every day that God should give me more so that I can give more to society. My joy is to see people happy.”

Oseni also assured the women that he would continue to support initiatives aimed at improving their welfare, while urging them to remain active in their communities and engage other residents on issues affecting their lives.

He encouraged the women to take the message to the grassroots through house-to-house and street-to-street engagement, including interactions with market women, artisans and youths.

The lawmaker also solicited support for President Bola Ahmed Tinubu’s Renewed Hope Agenda and other APC candidates ahead of the 2027 elections.

Earlier, the coordinator of the widows, Mrs Comfort Adedeji, said widows should not be regarded as helpless, noting that many of them had continued to provide for their families despite the loss of their husbands.

Adedeji described the women as mothers, caregivers, traders, farmers and workers who had continued to shoulder the responsibilities of their households.

She commended Oseni for what she described as his support for the women and appealed to him and other stakeholders to pay greater attention to widows through empowerment programmes, skills acquisition, financial assistance and educational support for their children.

She said supporting widows was effectively an investment in entire families because of the responsibilities they carried.

“When you empower a widow, you are not helping only one woman; you are helping an entire family and securing the future of her children,” she said.

The women expressed appreciation for the intervention and urged the lawmaker to sustain support for them, particularly in areas of business development and livelihood assistance.

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‎OYO 2027: ‘Fact-Check Always’ – Oseni’s Aide Replies Ex-AGF , Ojo Over Alli’s Campaign Billboard Claims

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The media aide to the All Progressives Congress (APC) senatorial candidate for Oyo South, Hon. Aderemi Oseni,  Com. Idowu Ayodele, has dismissed allegations that his principal deliberately excluded the party’s governorship candidate, Senator Sharafadeen Alli, from his campaign activities.

‎Idowu described the allegation by a former Attorney-General and Commissioner for Justice in Oyo State, Mutalubi Ojo Adebayo, SAN, as unfounded, saying it was based on hearsay rather than facts.

‎Adebayo had, in a Facebook post on Friday, accused Oseni of not being a team player and alleged that the lawmaker deliberately left Alli out of his campaign billboards across Oyo South Senatorial District.

The former Attorney-General described the alleged action as anti-party and unfortunate, urging Oseni to retrace his steps in the interest of party unity ahead of the 2027 general elections.

‎Adebayo also appealed to the APC leadership in Oyo State to intervene and ensure a united and coordinated campaign structure.

‎However, Idowu, while reacting to the allegation, urged the former Attorney-General to verify his facts before making such claims.

‎“I cannot pre-empt your reason or say exactly what informed your decision or the motive behind your post.

“But knowing your nature and what you stand for, I believe your submissions on issues like this should not be based on hearsay. They should be based on facts, proper checks, genuine information and, where necessary, investigation,” he said.

‎Idowu said contrary to the allegation, Oseni had sponsored and erected no fewer than 20 billboards across Oyo South featuring Alli.

“For the record, there are no fewer than twenty billboards presently across Oyo South Senatorial District, sponsored and erected by Hon. Aderemi Oseni, featuring the APC governorship candidate, Senator Sharafadeen Alli,” he stated.

‎According to him, Oseni’s support for Alli was not limited to billboard publicity, as the lawmaker had also actively campaigned and solicited support for the APC governorship candidate, President Bola Tinubu and other candidates of the party.

“Oseni did not just sponsor or erect billboards. He also actively campaigned and solicited support for President Tinubu, Senator Alli and other APC candidates.

“This is a known fact, and Senator Alli himself can attest to it,” Idowu added.

The media aide urged Adebayo to verify the information and correct the impression created by his post.

“I therefore expect you, as a man of honour and integrity, to do the needful by verifying the facts and honourably debunking the falsehood contained in your post,” he stressed.

Idowu also appealed to APC leaders and stakeholders in the state to exercise caution in their public statements, warning that unverified allegations could create unnecessary tension among party leaders.

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FG vows to tackle power crisis, commissions 3MW solar plant at Abuja varsity

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Joseph Tegbe

The Federal Government has vowed to tackle Nigeria’s power challenges, with the Minister of Power, Joseph Tegbe, assuring Nigerians that the administration of President Bola Tinubu will deliver on its promise of improved electricity supply.

Tegbe gave the assurance on Wednesday in Abuja while commissioning a 3MW solar hybrid power project at Yakubu Gowon University, formerly the University of Abuja.

The project, delivered under Phase II of the Federal Government’s Energising Education Programme, is expected to provide more reliable electricity for teaching, research, laboratories, digital services and other critical activities at the university.

The intervention was implemented by the Rural Electrification Agency through the World Bank-funded Nigeria Electrification Project.

The facility comprises a 3.3MW solar array, 3MW AC output capacity and 2MWh battery storage designed to support critical loads beyond daylight hours. The project also includes 388 solar-powered streetlights to improve lighting and security across the campus.

Speaking at the commissioning, Tegbe said the project demonstrated how investment in electricity could directly support human capital development.

“There is perhaps no better place to demonstrate the practical value of Nigeria’s energy transition than a university,” the minister said.

He explained that universities required dependable power not only for classrooms, but also for research, laboratories, technology, administration and digital services.

Tegbe, who described the commissioning as the beginning rather than the end of the investment, said the government was also working to ensure that renewable energy facilities remained functional over the long term.

He said the newly established Renewable Asset Management Company would play a role in ensuring proper management and maintenance of renewable energy assets.

The minister also disclosed that efforts were underway to extend electricity coverage to other parts of the university, including student hostels, following requests from the institution’s Student Union Government and management.

He said the government would work towards ensuring that other areas of the university were covered within six months.

The Managing Director of the REA, Abba Aliyu, said the Energising Education Programme had evolved from simply providing electricity infrastructure to supporting education, research and human capital development.

According to him, the programme has so far delivered renewable energy infrastructure to 22 federal universities and three affiliated teaching hospitals, deploying more than 100MW of clean energy nationwide.

Aliyu said the experience gained from the projects had shown the need to pay as much attention to maintenance and long-term performance as to construction.

“We have become very good at asking, ‘How do we build more?’ We must now become equally rigorous about asking, ‘How do we protect what we have already built? How do we make it perform? And how do we preserve its value?’” he said.

The Head of the Nigeria Electrification Project, Olufemi Akinyelure, said the impact of the project should be measured beyond the electricity generated.

He said reliable electricity would enable laboratories to function, support research and create better conditions for students and lecturers.

“Government may not be in the business of making profit, but it must always be in the business of making progress,” Akinyelure said.

The Vice-Chancellor of Yakubu Gowon University, Prof. Hakeem Fawehinmi, described the project as a major investment in the institution’s academic mission.

Fawehinmi said the university could not effectively teach, conduct meaningful research, operate laboratories or sustain digital services without dependable electricity.

He assured the Federal Government and other partners that the university would properly utilise and maintain the facility.

Also speaking, the Chairman of the Senate Committee on Power, Senator Enyinnaya Abaribe, said the project underscored the need to connect government investment with sustainable outcomes.

Abaribe urged the university to take ownership of the facility and ensure that appropriate arrangements were made for its operation, maintenance and protection.

Beyond electricity generation, the project includes a Renewable Energy Workshop and Training Centre designed to support practical learning and skills development in renewable energy technologies.

The programme also has a female STEM component aimed at giving students practical exposure to renewable energy and opportunities in the sector.

The project was delivered through collaboration among the Federal Government, REA, the Nigeria Electrification Project, the World Bank, Yakubu Gowon University and EMONE Energy Solutions.

With the facility now commissioned, the focus shifts to keeping it operational and ensuring that improved electricity translates into better learning, stronger research and greater opportunities for innovation at the university.

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