Extraordinary

Federal Republic Of Nigeria Official Gazette No. 93 Lagos - 22Nd May, 2023 Vol. 110

Government Notice No. 56 The following is published as supplement to this Gazette :
S.I. No. Short Title Page 22 Revocation of Operating Licence - Forty Seven Microfinance Banks Licences Revoked .. .. .. .. .. .. .. B457-459

Printed and Published by The Federal Government Printer, Lagos, Nigeria FGP 78/92023/100 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. B 455 B 456

S. I. No. 22 Of 2023

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

WHEREAS :
[22nd Day of May**, 2023**
Commencement.

1. The 47 (forty-seven) Microfinance Banks listed in the Schedule hereto have either remained inactive, insolvent, failed to render returns, closed shop, or ceased to carry on the type of banking business for which they were licensed for more than six (6) months in contravention of the Banks and other Financial Institutions Act (BOFIA), 2020 and the Revised Regulatory and Supervisory Guidelines for Microfinance Banks in Nigeria ;
2. The various actions taken by the Regulatory Authority to halt their persistent failure to carry on business had failed.

NOW THEREFORE, I, Godwin Ifeanyi Emefiele, CON, Governor of the Central Bank of Nigeria, in exercise of the powers conferred upon me by Section 12 of the Banks and Other Financial Institutions Act (BOFIA), 2020, hereby revoke the licenses of the 47 (forty seven) Microfinance Banks.

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

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Schedule

LIST OF MICROFINANCE BANKS LICENCES REVOKED
S/No. Name 1. EVANGEL MICROFINANCE BANK 2. DOMINION MICROFINANCE BANK 3. ANYA MICROFINANCE BANK
4. AKWENGWU MICROFINANCE BANK
5. FADAMA FARMERS MICROFINANCE BANK
6. SAL-FOL MICROFINANCE BANK 7. MAUTECH MICROFINANCE BANK
8. WASE MICROFINANCE BANK
9. SMARTMICRO MICROFINANCE BANK
10. AMBA MICROFINANCE BANK
11. BRIDGE HOUSE MICROFINANCE BANK
12. MONEYWELL MICROFINANCE BANK 13. OTUKPO MICROFINANCE BANK
14. OLOGBON MICROFINANCE BANK
15. BESTWAY MICROFINANCE BANK 16. BIYAMA MICROFINANCE BANK
17. GREENLAND MICROFINANCE BANK
18. FASILDAPO MICROFINANCE BANK 19. SUNRISE MICROFINANCE BANK
20. JOINT FARMERS MICROFINANCE BANK
21. PROLIFIC MICROFINANCE BANK 22. HALMOND MICROFINANCE BANK 23. AJIKOBI MICROFINANCE BANK 24. KOGI MICROFINANCE BANK 25. EYOWO MICROFINANCE BANK 26. ARISE MICROFINANCE BANK 27. ISI-AKU MICROFINANCE BANK 28. BMAZAZHIN MICROFINANCE BANK 29. INI MICROFINANCE BANK 30. NARICT MICROFINANCE BANK

B 458

B 459 31. INTERLAND MICROFINANCE BANK
32. EHOR MICROFINANCE BANK
33. BIBAJINRE MICROFINANCE BANK 34. GOLDEN FUNDS MICROFINANCE BANK
35. GWADABAWA MICROFINANCE BANK
36. IBA MICROFINANCE BANK 37. EDUMANA MICROFINANCE BANK
38. WEST-END MICROFINANCE BANK
39. UMEJEI MICROFINANCE BANK 40. MOUAU VASMUCS MICROFINANCE BANK 41. JAMIS MICROFINANCE BANK 42. NEW WORLD MICROFINANCE BANK 43. ABESTONE MICROFINANCE BANK 44. NSEHE MICROFINANCE BANK 45. OSOGBO MICROFINANCE BANK 46. CROSSOVER MICROFINANCE BANK 47. DANGIZHI MICROFINANCE BANK