NDIC Commences Closure of 42 Microfinance Banks


The Nigeria Deposit Insurance Corporation (NDIC) has commenced the closure of 42 microfinance banks after a directive from the Central Bank of Nigeria (CBN).


The NDIC had earlier on Friday announced on its website that the CBN has revoked the operating licenses of 42 microfinance banks.
It confirmed to Channels Television on Monday that the closure of the banks has commenced.


“This is to inform the depositors, creditors, shareholders, and the general public that the operating licenses of the under listed Forty-Two (42) Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN) effective 12th November 2020.


“The Nigeria Deposit Insurance Corporation (NDIC), the Official Liquidator of the banks whose licenses were recently revoked, is in the process of closing the listed banks and pay their insured Depositors,” the NDIC statement read in part.


The NDIC, therefore, request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December 2020 till Thursday, 24th December 2020.


The affected banks are listed below:
1        HEDGEWORTH MFB  GUOBA PLAZA SUITE B06, – 171, A.E. EKUKINAM STREET, BY CHISCO, UTAKO, ABUJA
2        FUTURE GROWTH MFB REAL TOWER PLAZA, PLOT 1121 OBAFEMI AWOLOWO WAY, UTAKO, ABUJA
3        BAGWAI MFB BAGWAI-SHANONO ROAD, BAGWAI LGA, KANO
4        ERE CITY MFB  ERE-IJESHA/IIIAHUN ROAD, ERE-IJESHA, ORIADE LGA, OSUN
5        CAFON MFB GARKI POLICE BARRACKS, GARKII, FCT, ABUJA
6        AKCOFED MFB EKIT ITAM II (BESIDE WATER BOARD), P. O. BOX 2048, UYO, AKWA-IBOM STATE
7        GUFAX MFB N0. 3 UDOTUNG UBO STREET UYO, AKWA IBOM STATE
8        PARTNERSHIP MFB 107 UPPER IWEKA ROAD, ONITSHA, ANAMBRA STATE
9        ICB MFB    IIIAH-ASABA ROAD, OSHIMILI NORTH LGA, IIIAH, DELTA STATE
10      ONIMA MFB NIPOST BUILDING, EKEOCHA ONICHA, EZINIHITTE MBAISE LGA, IMO STATE
11      HOMETRUST (NATIONS) MFB 76, ORLU ROAD, NKWERE, IMO STATE
12      RINGIM MFB OPP. RINGIM CENTRAL MARKET, RINGIM, JIGAWA STATE
13      BIGTHANA MFB 6, ALI AKILU ROAD, KADUNA
14      ROGO MFB ROGO TOWN, ROGO LGA, KANO STATE
15      MAKODA MFB  NO 15, KOGUNA TOWN, MAKODA LGA, KANO
16      TAKAI MFB TAKAI TOWN, TAKAI LGA, KANO STATE
17      BEBEJI MFB NO. 10 GIDAN IYAN, BEBEJI TOWN, BEBEJI L.G.A., KANO STATE
18      AJINGI MFB NO. 10 HAKIMI STREET, AJINGI TOWN, AJINGI LGA, KANO STATE
19      GARKO MFB  3, GARKO TOWN, KANO
20      KANGIWA MFB KANGIWA TOWN, KANGIWA LGA, KEBBI STATE
21      AUGIE MFB  AUGIE TOWN, AUGIE LGA, KEBBI STATE
22      MOPA MFB  SILAS BAMIDELE DANIYAN HOUSE, KABBA-ILORIN ROAD, MOPA, KOGI-STATE
23      SOLID BASE MFB  EKIRIN ADDE, IJUMU LGA, KOGI STATE
24      ULTIMATE BENEFIT MFB  150C, OKENE KABBA ROAD, LOKOJA, KOGI
25      OVIDI MFB NO. 1, ATTA ROAD, OKENE, KOGI STATE
26      KIRFI MFB  KIRFI TOWN, KIRFI LGA, BAUCHI
27      CREDIT EXPRESS MFB  27, KAKAWA STREET, LAGOS
28      KING SOLOMON MFB GOD BLESS NIGERIA HOUSE, 117/119, WESTERN AVENUE, IPONRI, LAGOS
29      RIGGS MFB  PLOT 5, IMAN ABIB ADETORO STREET, OFF AJOSE ADEOGUN STREET, V.I., LAGOS
30      BILLIONAIRE BLUE BRICKS MFB APERIN HOUSE (2ND FLOOR) BLOCK I, PLOT 27, BUDO LAYOUT AJIWE, LEKKI EPE EXPRESSWAY, AJAH, LAGOS STATE
31      SUSU MFB          34, COMMERCIAL AVENUE SABO, YABA, LAGOS
32      WEALTHSTREAM MFB       AQUARIUS BLOCK, ELEGANZA PLAZA, GROUND FLOOR, LEFT-WING 1 COMMERCIAL ROAD, APAPA, LAGOS
33      AGUDA TITUN MFB   21, SHONOLA STREET, AGUDA TITUN, OGBA, LAGOS
34      SAPPHIRE MFB 111, ABAK ROAD, UYO, AKWA IBOM STATE
35      METRO MFB  15, OTUNUBI STREET, OFF HARUNA, OGBA, IKEJA, LAGOS
36      MOUNTAIN TOP MFB PROGRESS BLOCK, SHOP A102, AFRICAN TYRE VILLAGE, OPP. APT TRADE FAIR COMPLEX, LAGOS/BADAGRY EXPRESSWAY, LAGOS
37      UNYOGBA MFB  1, ALOMA ROAD, OPP. MKT. SQ., EJULE, OFU LGA, KOGI STATE
38      WAPO MFB OKENE-LOKOJA ROAD, NAGAZI, ADAVI LGA, OKENE, KOGI STATE
39      IBOGUN MFB IBOGUN EGBEDA, IFO LGA, OGUN STATE
40      KOREDE MFB  NO. 3, LUWOYE STREET, IGBOTAKO, ONDO STATE
41      AHETOU MFB  26, EREMA ROAD, BYEPASS, AKABUKA, OGBA/EGBEMA/NDONI LGA, RIVERS STATE
42      FUFORE MFB  NO. 25 GURIN ROAD, FUFORE LGA, ADAMAWA, YOLA STATE.

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