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Update on the Revocation of the Operating Licenses of 46 Micro-Finance Banks by the Central Bank of Nigeria

NDIC 2 min read
Update on the Revocation of the Operating Licenses of 46 Micro-Finance Banks by the Central Bank of Nigeria

Further to our statement of July 1, 2026 on the revocation of the operating licences of 46 Microfinance Banks (MFBs) by the Central Bank of Nigeria (CBN) on July 1, 2026, the Nigeria Deposit Insurance Corporation (NDIC), wishes to inform the depositors of the defunct banks in particular, and the general public that, NDIC staff have commenced depositors’ verification at the offices of the affected banks across the country. Consequently:

  1. Depositors who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks will be paid through their alternative accounts in existing banks;

  2. Depositors whose BVNs were not linked to their accounts in the failed banks are encouraged to visit the affected banks offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and Bank Verification Number (BVN).

  3. Depositors can also file their claims online, by visiting the NDIC Website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing: “Pre-Verification Claims Form”; opening the Form and filling in their details. Depositors can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/

  4. Depositors can also visit any of the NDIC offices closest to them to file their claims.

  5. For further enquiries, the Corporation can be reached on any of the following lines: 09037273810 09038197064;08104220807;09064657140.

The list of the affected MFBs is as follows:

ABIA

  • Merchant Microfinance Bank, Aba

  • Abia SME Microfinance Bank, Aba

AKWA-IBOM

  • Casha Microfinance Bank, Kubwa

  • Stanford Microfinance Bank, Uyo

ANAMBRA

  • Frontline Microfinance Bank, Nnewi South LGA

BAYELSA

  • Crystabel Microfinance Bank, Yenogoa

BENUE

  • Strait Sahara Microfinance Bank Limited, Makurdi

CROSS RIVER

  • Livingspring Microfinance Bank, Calabar

DELTA

  • Creekline Microfinance Bank, Warri

FCT

  • Winview Microfinance Bank Limited, Kubwa

KADUNA

  • Zafec Microfinance Bank Limited, Zaria

  • Basawa Microfinance Bank Limited, Zaria

KANO

  • Zain Microfinance Bank, Dawakin Tofa LGA

  • Bompai Microfinance Bank, Nassarawa LGA

  • Ajwa Microfinance Bank, Gezawa

  • NOW NOW Digital Microfinance Bank Limited, Doguwa

  • Minjibir Microfinance Bank

  • Shanono Microfinance Bank

  • Sumaila Microfinance Bank

  • Rimin Gado Microfinance Bank

  • Sycamore Microfinance Bank Limited, Albasu

  • Tofa Microfinance Bank

  • Kanopoly Microfinance Bank

  • Bellbank Microfinance Bank, Tsanyawa

  • Esteem Microfinance Bank Limited

KEBBI

  • Kamba Microfinance Bank, Dandi LGA

  • Zuru Microfinance Bank

KWARA

  • Janmaa Microfinance Bank, Ilorin

LAGOS

  • Gold Microfinance Bank, Ikeja

  • Chanelle Microfinance Bank, Ikeja

  • Safegate Microfinance Bank, Egbeda

  • Supreme Microfinance Bank, Ogudu

  • Creditville Microfinance Bank Limited, Victoria Island

  • MBAG Microfinance Bank Limited, Ogba

  • Verdant-Capital Microfinance Bank Limited, Maryland

  • Entrepreneur Microfinance Bank Limited, Lagos-Island

NIGER

  • Busu Microfinance Bank

  • Bejin-Doko Microfinance Bank Limited, Doko

OGUN

  • Iwade Microfinance Bank, Ijebu Ode

  • Apple Microfinance Bank Limited, Ijebu

ONDO

  • OurPass Microfinance Bank Limited, Ifon

OSUN

  • Avantus Microfinance Bank Limited, Ijesa

OYO

  • Best Star Microfinance Bank Limited

PLATEAU

  • Mwaghavul Microfinance Bank, Mangu

  • Yeneng Microfinance Bank

RIVERS

  • Minji-Se Churchill Microfinance Bank, Port-Harcourt

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