NDIC Begins Process to Conclude the Liquidation of 89 MFBs & PMBs
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.
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 with serial numbers, Old names and their respective locations:
1 MOUAU VASMUCS MICROFINANCE BANK LIMITED
MOVASCO-OP MICROFINANCE BANK LIMITED
ABIA
2 EDUEK MICROFINANCE BANK LIMITED
MINT MICROFINANCE BANK LIMITED
AKWA IBOM
3 INI MICROFINANCE BANK LIMITED
UFORO MICROFINANCE BANK LIMITED
AKWA IBOM
4 NSEHE MICROFINANCE BANK LIMITED
VISTA MICROFINANCE BANK LIMITED
AKWA IBOM
5 ZAWADI MICROFINANCE BANK LIMITED
ZITRA MICROFINANCE BANK LIMITED
AKWA IBOM
6 AKPO MICROFINANCE BANK LIMITED
OGANIRU MICROFINANCE BANK LIMITED
ANAMBRA
7 ANYA MICROFINANCE BANK LIMITED
PIONNER (DIOHAUNOEGO) MICROFINANCE BANK LIMITED
ANAMBRA
8 AWKA MICROFINANCE BANK LIMITED
PLANTINUM MICROFINANCE BANK LIMITED
ANAMBRA
9 ENUGWU-UKWU MICROFINANCE BANK LIMITED
UMUNRI MICROFINANCE BANK LIMITED
ANAMBRA
10 ISI-AKU MICROFINANCE BANK LIMITED
ISIEGO MICROFINANCE BANK LIMITED
ANAMBRA
11 OBOSI MICROFINANCE BANK LIMITED
ADIKE MICROFINANCE BANK LIMITE
ANAMBRA
12 CUB MICROFINANCE BANK LIMITED
UNICOOP MICROFINANCE BANK LIMITED
DELTA
13 UMEJEI MICROFINANCE BANK LIMITED
KOLISA MICROFINANCE BANK LIMITED
DELTA
14 ABC MICROFINANCE BANK LIMITED
OKADA MICROFINANCE BANK LIMITED
EDO
15 EHOR MICROFINANCE BANK LIMITED
EHINOMA MICROFINANCE BANK LIMITED
EDO
16 ESAN MICROFINANCE BANK LIMITED
UBJ MICROFINANCE BANK LIMITED
EDO
17 AMOYE MICROFINANCE BANK LIMITED
IKERE MICROFINANCE BANK LIMITED
EKITI
18 GOLDENFUNDS MICROFINANCE BANK LIMITED
ROYAL EXCELLENT MICROFINANCE BANK LIMITED
ENUGU
19 EVANGEL MICROFINANCE BANK LIMITED
VANGEL MICROFINANCE BANK LIMITED
IMO
20 GREENLAND MICROFINANCE BANK LIMITED
5TT MICROFINANCE BANK LIMITED
IMO
21 ARISE MICROFINANCE BANK LIMITED
SHINE MICROFINANCE BANK LIMITED
LAGOS
22 BANCCORP MICROFINANCE BANK LIMITED
BLOC MICROFINANCE BANK LIMITED
LAGOS
23 BISHOPGATE MICROFINANCE BANK LIMITED
ADVANCLY MICROFINANCE BANK LIMITED
LAGOS
24 BRIDGEWAY MICROFINANCE BANK LIMITED
BWAY MICROFINANCE BANK LIMITED
LAGOS
25 BRIYTH COVENANT MICROFINANCE BANK LIMITED
WESTON–CHARIS MICROFINANCE BANK LIMITED
LAGOS
26 CREDIT AFRIQUE MICROFINANCE BANK LIMITED
KAIZEN MICROFINANCE BANK LIMITED
LAGOS
27 ECHO MICROFINANCE BANK LIMITED
PLUS ONE MICROFINANCE BANK LIMITED
LAGOS
28 EYOWO MICROFINANCE BANK LIMITED
ENTREPRENEUR MICROFINANCE BANK LIMITED
LAGOS
29 FIYINFOLU MICROFINANCE BANK LIMITED
TEERUS MICROFINANCE BANK LIMITED
LAGOS
30 HACKMAN MICROFINANCE BANK LIMITED
LIGHTWAY MICROFINANCE BANK LIMITED
LAGOS
31 HALMOND MICROFINANCE BANK LIMITED
CASA MICROFINANCE BANK LIMITED
LAGOS
32 MANNA MICROFINANCE BANK LIMITED
SAVESIMPLE MICROFINANCE BANK LIMITED
LAGOS
33 MANNY MICROFINANCE BANK LIMITED
SILVEREND MICROFINANCE BANK LIMITED
LAGOS
34 MAYFAIR MICROFINANCE BANK LIMITED
OPTIMUN GLOBAL MICROFINANCE BANK LIMITED
LAGOS
35 MERCURY MICROFINANCE BANK LIMITED
DASH MICROFINANCE BANK LIMITED
LAGOS
36 MONEYWISE MICROFINANCE BANK LIMITED
INDULGE MICROFINANCE BANK LIMITED
LAGOS
37 NETWORK MICROFINANCE BANK LIMITED
UNICORN MICROFINANCE BANK LIMITED
LAGOS
38 NUTURE MICROFINANCE BANK LIMITED
MBAG MICROFINANCE BANK LIMITED
LAGOS
39 ONYX MICROFINANCE BANK LIMITED
DIGITVANT MICROFINANCE BANK LIMITED
LAGOS
40 OROS CAPITAL MICROFINANCE BANK LIMITED
EZPAY MICROFINANCE BANK LIMITED
LAGOS
41 PENIEL MICROFINANCE BANK LIMITED
ZIRCON MICROFINANCE BANK LIMITED
LAGOS
42 PRIMERA MICROFINANCE BANK LIMITED
KOINS MICROFINANCE BANK LIMITED
LAGOS
43 PURPLE MONEY MICROFINANCE BANK LIMITED
WILLOWS MICROFINANCE BANK LIMITED
LAGOS
44 STALLION MICROFINANCE BANK LIMITED
SPRINGFIELD MICROFINANCE BANK LIMITED
LAGOS
45 SUNRISE MICROFINANCE BANK LIMITED
STABLE MICROFINANCE BANK LIMITED
LAGOS
46 SURBPOLITAN MICROFINANCE BANK LIMITED
CHARIS MICROFINANCE BANK LIMITED
LAGOS
47 VERDANT-CAPITAL MICROFINANCE BANK LIMITED
VERDANT MICROFINANCE BANK LIMITED
LAGOS
48 ZIKADO MICROFINANCE BANK LIMITED
AVEST MICROFINANCE BANK LIMITED
LAGOS
49 AIYEPE MICROFINANCE BANK LIMITED
SPRINGVILLE MICROFINANCE BANK LIMITED
OGUN
50 INTERLAND MICROFINANCE BANK LIMITED
NEXTON MICROFINANCE BANK LIMITED
OGUN
51 STAR MICROFINANCE BANK LIMITED
SOSA MICROFINANCE BANK LIMITED
OGUN
52 ZIGATE MICROFINANCE BANK LIMITED
KATSU MICROFINANCE BANK LIMITED
OGUN
53 FASILIDAPO MICROFINANCE BANK LIMITED
OURPASS MICROFINANCE BANK LIMITED
ONDO
54 NEWAGE MICROFINANCE BANK LIMITED
CASHBRITE MICROFINANCE BANK LIMITED
ONDO
55 BOLUWADURO MICROFINANCE BANK LIMITED
AFOLE MICROFINANCE BANK LIMITED
OSUN
56 IBA MICROFINANCE BANK LIMITED
BANKEASY MICROFINANCE BANK LIMITED
OSUN
57 IDESE MICROFINANCE BANK LIMITED
SOFAJ MICROFINANCE BANK LIMITED
OSUN
58 OLA MICROFINANCE BANK LIMITED
RUN MICROFINANCE BANK LIMITED
OSUN
59 OLOFIN MICROFINANCE BANK LIMITED
DSC MICROFINANCE BANK LIMITED
OSUN
60 OLOFIN-OWENA MICROFINANCE BANK LIMITED
AVANTUS MICROFINANCE BANK LIMITED
OSUN
61 OSOGBO MICROFINANCE BANK LIMITED
BOLD MICROFINANCE BANK LIMITED
OSUN
62 FIRSTINDEX MICROFINANCE BANK LIMITED
RICIA CAPITAL MICROFINANCE BANK LIMITED
OYO
63 JOINT FARMERS MICROFINANCE BANK LIMITED
TELLERONE FI MICROFINANCE BANK LIMITED
OYO
64 OLOGBON MICROFINANCE BANK LIMITED
AKATA MICROFINANCE BANK LIMITED
OYO
65 IWOAMA MICROFINANCE BANK LIMITED
TENN BANK LIMITED
RIVERS
66 ADAMAWA HOMES & SAVINGS LTD
ADAMAWA MORTGAGE BANK LTD
ADAMAWA
67 MAUTECH MICROFINANCE BANK LIMITED
MODIBBO ADAMA UNIVERSITY MICROFINANCE BANK LIMITED
ADAMAWA
68 MICHIKA MICROFINANCE BANK LIMITED
PREMIER MICROFINANCE BANK LIMITED
ADAMAWA
69 BIYAMA MICROFINANCE BANK LIMITED
DABTIKIR MICROFINANCE BANK LIMITED
ADAMAWA
70 MUSHARAKA MICROFINANCE BANK LIMITED
MUAMALA MICROFINANCE BANK LIMITED
NIGER
71 DANGIZHI MICROFINANCE BANK LIMITED
METRO EXPRESS NETWORK MICROFINANCE BANK LIMITED
NIGER
72 EDUMANA MICROFINANCE BANK LIMITED
EDUSOKO MICROFINANCE BANK LIMITED
NIGER
73 MAINSAIL MICROFINANCE BANK LIMITED
DUXBANK MICROFINANCE BANK LIMITED
FCT
74 ALLY MICROFINANCE BANK LIMITED
ULTRAVIOLET MICROFINANCE BANK LIMITED
FCT
75 BUSINESS SUPPORT MICROFINANCE BANK LIMITED
TRANSPAY MICROFINANCE BANK LIMITED
FCT
76 THE DANIELS GLOBAL MICROFINANCE BANK LIMITED
SWIFTTRUST MICROFINANCE BANK LIMITED
FCT
77 FIRST MULTIPLE MICROFINANCE BANK LIMITED
KOBOWEB MICROFINANCE BANK LIMITED
FCT
78 GRASSROOTS MICROFINANCE BANK LIMITED
MIA MICROFINANCE BANK LIMITED
KANO
79 BLUEWHALES MICROFINANCE BANK LIMITED
ELLINGTON MICROFINANCE BANK LIMITED
PLATEAU
80 JOSAD MICROFINANCE BANK LIMITED
PAYREP MICROFINANCE BANK LIMITED
NASARAWA
81 BIPC MICROFINANCE BANK LIMITED
NOVUS MICROFINANCE BANK LIMITED
BENUE
82 JAMIS MICROFINANCE BANK LIMITED
STRAIT SAHARA MICROFINANCE BANK LIMITED
BENUE
83 NARICT MICROFINANCE BANK LIMITED
BASAWA MICROFINANCE BANK LIMITED
KADUNA
84 FAHIMTA MICROFINANCE BANK LIMITED
CEDRUS MICROFINANCE BANK LIMITED
KADUNA
85 MABINAS MICROFINANCE BANK LIMITED
AL’HIKMA MICROFINANCE BANK LIMITED
KADUNA
86 NEW WORLD MICROFINANCE BANK LIMITED
BKD NEW MICROFINANCE BANK LIMITED
JIGAWA
87 NORTHBRIDGE MICROFINANCE BANK LIMITED
ESTEEM MICROFINANCE BANK LIMITED
KANO
88 OMU-ARAN MICROFINANCE BANK LIMITED
OLOMU APERAN MICROFINANCE BANK LIMITED
KWARA
89 CHERISH MICROFINANCE BANK LIMITED
COOL MICROFINANCE BANK LIMITED
KATSINA
