BREAKING: CBN Revokes Licences of 46 Microfinance Banks Nationwide

By Our Correspondent

The Central Bank of Nigeria (CBN) has officially withdrawn the operating licences of 46 Microfinance Banks across the country, effective July 1, 2026.

According to the apex bank, the affected institutions failed to meet key regulatory requirements, including maintaining the minimum capital requirement, remaining operational, and complying with other prudential guidelines. The action is part of the CBN’s efforts to strengthen the financial system and protect depositors.

Full List of the Affected Microfinance Banks

1. Minji-Se Churchill Microfinance Bank (Rivers)
2. Merchant Microfinance Bank (Abia)
3. Janmaa Microfinance Bank (Kwara)
4. Busu Microfinance Bank (Niger)
5. Gold Microfinance Bank (Lagos)
6. Zain Microfinance Bank (formerly Dawakin Tofa MFB) – Kano
7. Bompai Microfinance Bank (Kano)
8. Ajwa Microfinance Bank (formerly Gezawa MFB) – Kano
9. NOW NOW Digital Microfinance Bank (Kano)
10. Crystabel Microfinance Bank (Bayelsa)
11. Chanelle Microfinance Bank (Lagos)
12. Abia SME Microfinance Bank (Abia)
13. Kamba Microfinance Bank (Kebbi)
14. Iwade Microfinance Bank (Ogun)
15. Winview Microfinance Bank (FCT Abuja)
16. Zuru Microfinance Bank (Kebbi)
17. Minjibir Microfinance Bank (Kano)
18. Shanono Microfinance Bank (Kano)
19. Sumaila Microfinance Bank (Kano)
20. Rimin Gado Microfinance Bank (Kano)
21. Mwaghavul Microfinance Bank (Plateau)
22. Sycamore Microfinance Bank (Kano)
23. TOFA Microfinance Bank (Kano)
24. Safegate Microfinance Bank (Lagos)
25. Creekline Microfinance Bank (Delta)
26. Bestar Microfinance Bank (Oyo)
27. Livingspring Microfinance Bank (Cross River)
28. Apple Microfinance Bank (Ogun)
29. Stanford Microfinance Bank (Akwa Ibom)
30. Frontline Microfinance Bank (Anambra)
31. Zafec Microfinance Bank (Kaduna)
32. Supreme Microfinance Bank (Lagos)
33. Bejin-Doko Microfinance Bank (Niger)
34. Kanopoly Microfinance Bank (Kano)
35. Bellbank Microfinance Bank (formerly Tsanyawa MFB) – Kano
36. Yeneng Microfinance Bank (Plateau)
37. Creditville Microfinance Bank (Lagos)
38. MBAG Microfinance Bank (Lagos)
39. Straight Sahara Microfinance Bank (Benue)
40. OurPass Microfinance Bank (Ondo)
41. Verdant Microfinance Bank (Lagos)
42. Basawa Microfinance Bank (Kaduna)
43. Casha Microfinance Bank (FCT Abuja)
44. Esteem Microfinance Bank (Kano)
45. Entrepreneur Microfinance Bank (Lagos)
46. Avantus Microfinance Bank (Osun)

Customers of the affected banks are advised to stay calm and await further directives from the appropriate authorities regarding their deposits and banking services.