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List of Microfinance Banks CBN revoked their licenses

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Few days ago the CBN revoked the operating licences of 132 microfinance banks, four primary mortgage banks, and three finance companies in the country.

 

According to the apex bank, the financial institutions “failed to fulfil or comply with the conditions subject to which their licences were granted; or 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.”

 

See below the full list of the affected banks and financial institutions:

 

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

33. MANNY MICROFINANCE BANK LIMITED

34. REALITY MICROFINANCE BANK LIMITED

35. SURBPOLITAN MICROFINANCE BANK LIMITED

36. ONYX MICROFINANCE BANK LIMITED

37. OSINA MICROFINANCE BANK LIMITED

38. OLOFIN-OWENA MICROFINANCE BANK LIMITED

39. ZIKADO MICROFINANCE BANK LIMITED

40. PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED

41. 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

57. 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

67. AMOYE MICROFINANCE BANK LIMITED

68. BOLUWADURO MICROFINANCE BANK LIMITED

69. IYEDE MICROFINANCE BANK LIMITED

70. MAYFAIR MICROFINANCE BANK LIMITED

71.CALABAR MICROFINANCE BANK LIMITED

72. IGHOMO MICROFINANCE BANK LIMTED

73. HACKMAN MICROFINANCE BANK LIMITED

74. IDESE MICROFINANCE BANK LIMITED

75. 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

89. UNIFA MICROFINANCE BANK LIMITED

90. DADINKOWA MICROFINANCE BANK LIMITED

91.IFESOWAPO MICROFINANCE BANK LIMITED

92. OAF MICROFINANCE BANK LIMITED

93. BAMA MICROFINANCE BANK LIMITED

94. NGALA MICROFINANCE BANK LIMITED

95. IWOAMA MICROFINANCE BANK LIMITED

96. KADA MICROFINANCE BANK LIMITED

97. KEFFI MICROFINANCE BANK LIMITED

98. NUT-ENDWELL MICROFINANCE BANK LIMITED

99.FIRST MULTIPLE MICROFINANCE BANK LIMITED

100. SBDC MICROFINANCE BANK LIMITED

101. OROS CAPITAL MICROFINANCE BANK LIMITED

102. OZIZZA MICROFINANCE BANK LIMITED

103. PRIMERA CREDIT MICROFINANCE BANK LIMITED

104. IFEANYICHUKWU MICROFINANCE BANK LIMITED

106. IHIOMA MICROFINANCE BANK LIMITED

107. JOSAD MICROFINANCE BANK LIMITED

108. AKPO MICROFINANCE BANK LIMITED

109. AIYEPE MICROFINANCE BANK LIMITED

110. ABC MICROFINANCE BANK LIMITED

111. STAR MICROFINANCE BANK LIMITED

112. PURPLE MONEY MICROFINANCE BANK LIMITED

113. UTUH MICROFINANCE BANK LIMITED

114. STALLION MICROFINANCE BANK LIMITED

115. KJL MICROFINANCE BANK LIMITED

116. CREDIT AFRIQUE MICROFINANCE BANK LIMITED

117. COWRIES MICROFINANCE BANK LIMITED

117. LAWEBOD MICROFINANCE BANK LIMITED

118. MABINAS MICROFINANCE BANK LIMITED

119. BUSINESS SUPPORT MICROFINANCE BANK LIMITED

120. 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

126. ZIGATE MICROFINANCE BANK LIMITED

127. ESAN MICROFINANCE BANK LIMITEDE

128. ENUGU-UKWU MICROFINANCE BANK LIMITED

129. ECHO MICROFINANCE BANK LIMITED

130. ALLY MICROFINANCE BANK LIMITED

131. NETWORK MICROFINANCE BANK LIMITED

132. AWGBU MICROFINANCE BANK LIMITED

 

SCHEDULE II

LIST OF FINANCE COMPANIES LICENCES REVOKED/

S/N        Name Of Institution

1. HHL Invest & Trust Limited

TFS Finance Limited

Treasures & Trust Limited

       SCHEDULE  III

  1. LIST OF PRIMARY MORTGAGE BANKS LICENCES REVOKED

    S/N        Name Of Institution

    RESORT SAVINGS & LOANS

    SAFETRUST MORTGAGE BANK

    ADAMAWA SAVINGS & LOANS

    KOGI SAVINGS & LOANS

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Chris Kolade Leadership Award Loading As KMEN Sets for MegaSummit 2026

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Kingdom Men Global Network aka KMEN has formally announced the programmes of the 13th edition of its flagship annual gathering for men, Mega Summit.

 

This year’s event will open on Thursday May 14 and end on Sunday May 17 with an all-men musical concert.

The 2026 edition of Mega Summit which will hold at the Presken Hotels on Alade Avenue opposite Airport Hotel, Ikeja Lagos has as theme: Legacy…Faith. Family. Community. And for the first time Mega Summit will host an award on the opening day in memory of foremost Nigerian diplomat and integrity personified and pioneer Chairman of the Board of Trustee of KMEN, late Dr Christopher Kolade who died last year at the age of 92.

The KMEN-Christopher Kolade – Men in Leadership Award for Courageous Manhood will be heralded by the Men in Leadership Summit (MiLEADS) with the sub-theme – Building a Culture of Leadership with Integrity. And will have as speakers Archbishop John Osa-Oni of Vineyard Christian Ministries., Pastor Tunde Bakare of The Citadel Global Community Church, and renowned Pharmacist, entrepreneur and politician Mazi Sam Ohuabunwa, OFR.

 

Pastor Tunde Bakare

Day two will feature another special session for Men in Church Leadership (MiCLEADS) with the sub-theme: Leaving a Legacy of Faith/Discipling for the Next Generation, and will have as speakers Bishop Sunday Onadipe, Bishop, Methodist Church of Nigeria, Diocese of Badagry, Apostle Eyinnaya Okwuonu, former Chairman of Pentecostal Fellowship of Nigeria (PFN), Lagos Chapter., Pastor Dominion Roberts from Liberia, and Rev Fr Matthew Ogunyase of the Catholic Mission, Lagos.

While day three will open with a Special Town Hall discussion on Family with the sub-theme – The Father’s Role in Shaping Legacy and is the only mixed gender panel for Mega Summit 2026 featuring foremost life change coach, Mrs. Yemisi Lagunju and Rev David Abraham, who is the managing director of Managing Business for Christ (MBFC).

On Saturday is a Special Town Hall on Resisting an Emerging Legacy of Addictions. This segment will feature a presentation by Dr Dokun Adedeji on the ravage of Drug Addictions, alongside Abiose Akolade Ladipo, Co-Founder of GamblePause, a Lagos-based NGO in the fight against Gambling Addictions.

Later in the afternoon on Saturday is a second Town Hall session on Business and Economy with the sub-theme: Building Sustainable/Generational Businesses, and will feature notable panelists like Rev Professor Biodun Adedipe Founder of BA and Associates, and Rev Dr Abba Peter, Managing Director of Best Practices Limited, among others.Other Town Hall segments at Mega Summit 2026 include that on Politics/Governance with the sub-theme: Swimming Against the Tide – National Transformation through Service, and another Town Hall on Media featuring Mr. Mustapha Isah Osikhekha, former President of the Nigerian Guild of Editors (NGE), Omoba Deji Irawo and others as they navigate best way to Reclaim the Narrative: Legacy in Digital Spaces.

An extra-ordinary edition, the 13th edition of Mega Summit will also have segments designed to equip leaders in men’s ministry through the instrument of KMEN’s School of Men’s Ministry/ISI Training. Each day of Mega Summit 2026 is divided into three segments – morning starting at 9 am, afternoon session and evening climaxing with an impartation service.KMEN is an uncompromisingly Bible-based, independent ministry to men. Established nearly two decades ago, the ministry’s objective is to assist men, irrespective of their church affiliations, in their Christian Walk, that they may become better sons, brothers, husbands, fathers and leaders.

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Ikeja Electric Explains Epileptic Power Supply

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The Ikeja Electric Plc has given reasons for the  ongoing power outages experienced by cudtomers, attributing the situation to reduced electricity allocation from the national grid.

‎In a statement posted on its X handle at , the company apologized for the disruption, noting that some parts of its network were experiencing supply constraints due to reduced power allocation from the grid.

‎‎It added that, to manage the shortfall and maintain grid stability, it had introduced temporary load shedding across affected feeders.

The Ikeja Electricity company said as part of efforts to maintain grid stability and ensure equitable distribution of available power, temporary load shedding is being implemented across affected feeders and locations. The company said it was working with relevant stakeholders to improve supply and minimise the impact on customers.

‎The latest notice follows months of unstable electricity supply in Lagos and other parts of Nigeria, driven largely by a drop in generation linked to gas shortages.

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ALAT at 9: Wema Bank Celebrates Nine Years of Redefining Digital Banking in Nigeria

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Wema Bank Plc is celebrating the 9th anniversary of ALAT by Wema, Africa’s first fully digital bank, marking nine years of transforming how Nigerians experience banking.

 

Launched in 2017, ALAT by Wema was introduced as a bold response to the limitations of traditional banking, long queues, physical barriers, and slow processes. By eliminating these constraints, Wema Bank redefined banking as a fully digital, instant, and accessible experience, enabling customers to open accounts, transact, and manage their finances seamlessly from anywhere.

Over the past nine years, ALAT has evolved beyond convenience into a comprehensive digital ecosystem designed to meet the changing needs of individuals, businesses, and a new generation of financially aware users. From enabling structured savings through features like ALAT Goals to simplifying payments and expanding access to financial services, the platform has consistently delivered solutions that empower users and drive financial inclusion at scale.

This journey of continuous innovation has positioned ALAT not just as a digital banking product, but as a platform that adapts, grows, and evolves alongside its users.

To commemorate this milestone, Wema Bank has launched the ALAT at 9 campaign, a series of customer-focused activities, rewards, and interactive experiences designed to celebrate users while deepening engagement.

As part of the anniversary celebration, customers can access their personalized ALAT Wrapped, offering a simple, visual summary of their journey on the platform, which can be downloaded and shared across social media.

Customers can also participate in the 9 Features in 9 Days experience by engaging with a designated feature each day. Completing all nine activities unlocks rewards, encouraging consistent and active use of the platform.

In addition, customers who complete their 9th transaction at exactly 9:00am or 9:00pm will receive instant rewards.

The celebration also features the ALAT Evolution Jingle Challenge, inviting customers to create and submit the second verse of the ALAT jingle for a chance to win rewards.

Speaking on the milestone celebration, Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, said;

“ALAT at 9 is not just a celebration of time. It is a reflection of how far we have come and a clear indication of where we are going. Over the years, we have continued to evolve with our customers, building a platform that is not only functional but also engaging and rewarding. This campaign is designed to give back to our users while reinforcing our commitment to innovation and customer experience.”

Also commenting, Chief Digital Officer of Wema Bank, Olusegun Adeniyi, noted that the anniversary campaign was designed to merge everyday banking with meaningful engagement.

“With ALAT at 9, we are transforming routine banking into an interactive experience. By combining personalized insights, gamified missions, and real rewards, we are creating a platform that responds to users in a more dynamic and rewarding way. This reflects our vision to build a digital bank that is intuitive, adaptive, and centered around the customer,” he said.

The anniversary activities will run from May 2 to May 31stwith customers encouraged to log into the ALAT app to participate, complete tasks, and unlock rewards.

Existing customers can access the experience by updating the ALAT app via the Google Play Store or Apple App Store and signing in with their existing details. New customers can download the app and get started in minutes to enjoy the full range of features and anniversary benefits.

With ALAT at 9, Wema Bank continues to reinforce its leadership in digital banking, delivering not just financial services, but a platform that continue to evolve with its users and rewards them at every stage of their journey.

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