2023-05-23 | OFI/DOA/CON/OFI/005/114

Revocation of Operating Licenses

The Federal Republic of Nigeria's Official Gazette No. 94 Lagos, dated May 23, 2023, announces the revocation of operating licenses for a number of Microfinance Banks, Finance Companies, and Primary Mortgage Banks. The list of affected institutions, totaling 132, is provided in Schedules I, II, and III. The revocations are authorized by the Central Bank of Nigeria's Governor, Godwin Ifeanyi Emefiele, under the powers conferred by the Banks and Other Financial Institutions Act (BOFIA) 2020.

Extraordinary

Federal Republic Of Nigeria Official Gazette No. 94 Lagos - 23Rd May, 2023 Vol. 110

Government Notice No. 57 The following is published as supplement to this Gazette :

S.I. No.Short TitlePage
23Revocation of Operating Licence —Microfinance Banks Licences RevokedB461-468

B 459 Printed and Published by The Federal Government Printer, Lagos, Nigeria FGP 79/52023/100 Annual Subscription from 1st January, 2023 is Local : N50,000.00 Overseas : N65,000.00 [Surface Mail] N80,000.00 [Second Class Air Mail]. Present issue N3,000 per copy. Subscribers who wish to obtain Gazette after 1st January should apply to the Federal Government Printer, Lagos for amended Subscriptions.

S. I. No. 23 Of 2023

Banks And Other Financial Institutions Act (Bofia), 2020, Act No. 5 Revocation Of Operating Licences

[22nd Day of May**, 2023]** Commencement.

WHEREAS : The Microfinance Banks, Finance Companies and Primary Mortgage Banks stated in Schedules I, II and III respectively, hereto, have: (a**) ceased to carry on, in Nigeria, the type of business for which their** licences were issued for a continuous period of 6 months ; (b**) failed to fulfil or comply with the conditions subject to which their** licences were granted ; or (c**) 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.

NOW THEREFORE, I, Godwin Ifeanyi Emefiele, CON, Governor of the Central Bank of Nigeria, in exercise of the powers conferred on the Central Bank of Nigeria under Section 12 of BOFIA 2020, Act No.5, hereby revoke the licences of the Microfinance Banks, Finance Companies and Primary Mortgage Banks stated in Schedules I, II and III respectively attached hereto.

GIVEN under my hand at Abuja this 22nd May, 2023. GODWIN IFEANYI EMEFIELE, CON Governor, Central Bank of Nigeria

B 461 B 462 Schedule I

LIST OF MICROFINANCE BANKS LICENCES REVOKED S/N Name Of Institution 1. ATLAS MICROFINANCE BANK 2. BLUEWHALES MICROFINANCE BANK 3. EVEREST MICROFINANCE BANK 4. IGANGAN MICROFINANCE BANK 5. MAINSAIL MICROFINANCE BANK 6. MERIT MICROFINANCE BANK 7. MINNA MICROFINANCE BANK 8. MUSHARAKA MICROFINANCE BANK 9. NOPOV MICROFINANCE BANK 10. OHON MICROFINANCE BANK 11. PREMIUM MICROFINANCE BANK 12. ROYAL MICROFINANCE BANK 13. STATESMAN MICROFINANCE BANK 14. SUISSE MICROFINANCE BANK 15. VIBRANT MICROFINANCE BANK 16. VIRTUE MICROFINANCE BANK 17. ZAMARE MICROFINANCE BANK 18. NORTH CAPITAL MICROFINANCE BANK 19. CHIDERA MICROFINANCE BANK 20. EXCELLENT MICROFINANCE BANK 21. NI'IMA MICROFINANCE BANK 22. COSMOPOLITAN MICROFINANCE BANK 23. PROGRESSIVE LINK MICROFINANCE BANK 24. TRUST ONE (FOMERLY DESMONARCHY) 25. EKUOMBE MICROFINANCE BANK 26. FIRST INDEX MICROFINANCE BANK 27. OLA MICROFINANCE BANK 28. ULI MICROFINANCE BANK 29. VERDANT MICROFINANCE BANK 30. AGULERI MICROFINANCE BANK LIMITED 31. APEKS MICROFINANCE BANK LIMITED 32. FAHIMTA MICROFINANCE BANK LIMITED

B 463

  1. MANNY MICROFINANCE BANK LIMITED
  2. REALITY MICROFINANCE BANK LIMITED
  3. SURBPOLITAN MICROFINANCE BANK LIMITED 36. ONYX MICROFINANCE BANK LIMITED
  4. OSINA MICROFINANCE BANK LIMITED
  5. OLOFIN-OWENA MICROFINANCE BANK LIMITED 39. ZIKADO MICROFINANCE BANK LIMITED 40. PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED
  6. PENIEL MICROFINANCE BANK LIMITED 42. TARABA MICROFINANCE BANK LIMITED 43. BRASS MICROFINANCE BANK LIMITED 44. MICHIKA MICROFINANCE BANK LIMITED 45. NDIAGU MICROFINANCE BANK LIMITED 46. NORTHBRIDGE MICROFINANCE BANK LIMITED 47. FCT MICROFINANCE BANK LIMITED 48. OMU-ARAN MICROFINANCE BANK LIMITED 49. CHERISH MICROFINANCE BANK LIMITED 50. BIPC MICROFINANCE BANK LIMITED 51. DANELS GLOBAL MICROFINANCE BANK LIMITED 52. BANCORP MICROFINANCE BANK LIMITED 53. MANNA MICROFINANCE BANK LIMITED 54. MONEYWISE MICROFINANCE BANK LIMITED 55. MERCURY MICROFINANCE BANK LIMITED 56. NEW AGE MICROFINANCE BANK LIMITED
  7. PEARL MICROFINANCE BANK LIMITED 58. ZAWADI MICROFINANCE BANK LIMITED 59. SEED CAPITAL MICROFINANCE BANK LIMITED 60. EDUEK MICROFINANCE BANK LIMITED 61. EKSU MICROFINANCE BANK LIMITED 62. DAKINGARI MICROFINANCE BANK LIMITED 63. OGOJA MICROFINANCE BANK LIMITED 64. NWABOSI MICROFINANCE BANK LIMITED 65. NUTURE MICROFINANCE BANK LIMITED 66. ACTIVE POINT MICROFINANCE BANK LIMITED

B 464

  1. AMOYE MICROFINANCE BANK LIMITED
  2. BOLUWADURO MICROFINANCE BANK LIMITED
  3. IYEDE MICROFINANCE BANK LIMITED 70. MAYFAIR MICROFINANCE BANK LIMITED
  4. CALABAR MICROFINANCE BANK LIMITED
  5. IGHOMO MICROFINANCE BANK LIMTED 73. HACKMAN MICROFINANCE BANK LIMITED
  6. IDESE MICROFINANCE BANK LIMITED
  7. BRIDGEWAY MICROFINANCE BANK LIMITED 76. GRASSROOT MICROFINANCE BANK LIMITED 77. SURELIFE MICROFINANCE BANK LIMITED 78. TIJARAH MICROFINANCE BANK LIMITED 79. IC-GLOBAL MICROFINANCE BANK LIMITED 80. EJIAMATU MICROFINANCE BANK LIMITED 81. BRIYTH COVENANT MICROFINANCE BANK LIMITED 82. NANKA MICROFINANCE BANK LIMITED 83. CUB MICROFINANCE BANK LIMITED 84. BFL MICROFINANCE BANK LIMITED 85. UMUNNE MICROFINANCE BANK LIMITED 86. OROKE MICROFINANCE BANK 87. ALKALERI MICROFINANCE BANK LIMITED 88. CROWNED EAGLE MICROFINANCE BANK LIMITED 89. UNIFA MICROFINANCE BANK LIMITED 90. DADINKOWA MICROFINANCE BANK LIMITED 91. IFESOWAPO MICROFINANCE BANK LIMITED
  8. OAF MICROFINANCE BANK LIMITED
  9. BAMA MICROFINANCE BANK LIMITED 94. NGALA MICROFINANCE BANK LIMITED
  10. IWOAMA MICROFINANCE BANK LIMITED
  11. KADA MICROFINANCE BANK LIMITED 97. KEFFI MICROFINANCE BANK LIMITED
  12. NUT-ENDWELL MICROFINANCE BANK LIMITED
  13. FIRST MULTIPLE MICROFINANCE BANK LIMITED
  14. SBDC MICROFINANCE BANK LIMITED
  15. OROS CAPITAL MICROFINANCE BANK LIMITED
  16. OZIZZA MICROFINANCE BANK LIMITED B 465 103. PRIMERA CREDIT MICROFINANCE BANK LIMITED
  17. IFEANYICHUKWU MICROFINANCE BANK LIMITED 105. IHIOMA MICROFINANCE BANK LIMITED
  18. JOSAD MICROFINANCE BANK LIMITED
  19. AKPO MICROFINANCE BANK LIMITED 108. AIYEPE MICROFINANCE BANK LIMITED
  20. ABC MICROFINANCE BANK LIMITED
  21. STAR MICROFINANCE BANK LIMITED
  22. PURPLE MONEY MICROFINANCE BANK LIMITED
  23. UTUH MICROFINANCE BANK LIMITED 113. STALLION MICROFINANCE BANK LIMITED 114. KJL MICROFINANCE BANK LIMITED 115. CREDIT AFRIQUE MICROFINANCE BANK LIMITED 116. COWRIES MICROFINANCE BANK LIMITED 117. LAWEBOD MICROFINANCE BANK LIMITED 118. MABINAS MICROFINANCE BANK LIMITED 119. BUSINESS SUPPORT MICROFINANCE BANK LIMITED
  24. OGBE-AHIARA MICROFINANCE BANK LIMITED 121. OLOFIN MICROFINANCE BANK LIMITED 122. OBOSI MICROFINANCE BANK LIMITED 123. FIYINFOLU MICROFINANCE BANK LIMITED 124. BISHOPGATE MICROFINANCE BANK LIMITED 125. AWKA MICROFINANCE BANK LIMITED
  25. ZIGATE MICROFINANCE BANK LIMITED
  26. ESAN MICROFINANCE BANK LIMITED
  27. ENUGU-UKWU MICROFINANCE BANK LIMITED 129. ECHO MICROFINANCE BANK LIMITED
  28. ALLY MICROFINANCE BANK LIMITED
  29. NETWORK MICROFINANCE BANK LIMITED 132. AWGBU MICROFINANCE BANK LIMITED

B 466

Schedule Ii

LIST OF FINANCE COMPANIES LICENCES REVOKED S/N Name Of Institution 1. HHL Invest & Trust Limited 2. TFS Finance Limited 3. Treasures & Trust Limited

B 467 Schedule Iii

LIST OF PRIMARY MORTGAGE BANKS LICENCES REVOKED S/N Name Of Institution 1. RESORT SAVINGS & LOANS 2. SAFETRUST MORTGAGE BANK 3. ADAMAWA SAVINGS & LOANS 4. KOGI SAVINGS & LOANS B 468

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licensing
enforcement