The List of 882 CBN-Licensed Microfinance Banks in Nigeria As At Sept 30, 2018


Tuesday, October 30, 2018 / 02:10 PM / CBN


The Central Bank of Nigeria has released the list of 882 licensed Microfinance banks in Nigeria as at Sept 30, 2018 

From the records, one hundred and seventy (170 or 19.3%) of the microfinance banks operating in Nigeria are in the city of Lagos, Anambra state followed closely with seventy-five (75) microfinance banks operating in the state while Oyo (53), Abuja (49) and Ogun (49) complete the list of the top five (5) States with the highest number of Microfinance Banks as at Sept 30, 2018.


Yobe State has the least with one (1) microfinance bank only operating in the state.


The distribution by states is as shown below:

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It will be recalled that the CBN gave an indication in late Setember 2018 to revoke the operating licenses of 154 microfinance banks. The CBN said 62 of the microfinance banks had already closed shop; 74 became insolvent; 12 were terminally distressed; while six voluntarily liquidated


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Source: CBN

NB: See the full list of the 882 MFBs in the references (No 2) below


  1. List of Primary Mortgage Banks (PMBs) as at September 30, 2018 Published 10/29/2018 – CBN
  2. Licensed Microfinance Banks (MFBs) in Nigeria as at September 30, 2018Published 10/29/2018 - CBN
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