Status of Finance Companies -Monday, March 19, 2012

Regulators
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CENTRAL BANK OF NIGERIA, LAGOS

LIST OF ACTIVE FINANCE COMPANIES
Following the recent Routine Examination carried out by the Central Bank of Nigeria (CBN) on the finance companies under its supervisory purview, fifty five (55) of the companies were found to be actively engaged in the finance company business while four (4) others were undergoing restructuring.
Consequently, members of the public are hereby informed that the under-listed fifty nine (59) finance companies with CBN licenses are the institutions currently approved to carry on finance company business in Nigeria.
Members of the public are therefore, advised to transact business only with these 59 companies. Anyone who transacts finance company business with any company other than the under-listed, does so at his/her own risk.
A. ACTIVE FINANCE COMPANIES

 
B. FINANCE COMPANIES UNDER-GOING RESTRUCTURING
FINAL NOTICE OF REVOCATION OF LICENCE
Recent Routine Examination carried out by the Central Bank of Nigeria (CBN) revealed that the under-listed forty seven (47) finance companies had closed shop, ceased to operate, or abandoned finance company business.

1.       THE LIST OF CLOSED/INACTIVE FINANCE COMPANIES.
The promoters and operators of these finance companies are required, within thirty (30) days from the date of this publication, to submit evidence of their existence and/or operations, failing which their licenses shall be revoked.
All written representations, accompanied by documentary evidence, should be addressed to the Director, Other Financial Institutions Supervision Department, Central Bank of Nigeria, Central Business Area, Abuja.
Signed
Management
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