The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs). The affected banks have been shut down following the development.

The affected banks are

Hedgeworth MFB, Utako, Abuja;

Future Growth MFB, Utako, Abuja;

Bagwai MFB, Bagwai LGA, Kano;

Ere City MFB, Oriade LGA, Osun State;

Cafon MFB, Garki II, Abuja;

Akcofed MFB, Uyo, Akwa-Ibom State;

Gufax MFB, Uyo, Akwa Ibom State, Partnership MFB, Onitsha, Anambra State;

ICB MFB, Ilah, Delta State;

Onima MFB, Ezinihite Mbaise LGA, Imo State;

Hometrust (NATIONS) MFB, Nkwere, Imo State.

Ringim MFB, Ringim, Jigawa State;

Bigthana MFB, Ali Akilu Road, Kaduna;

Rogo MFB, Rogo LGA, Kano State;

Makoda MFB, Makoda LGA, Kano;

Takai MFB, Takai LGA, Kano State;

Bebeji MFB, Bebeji L.G.A., Kano State;

Ajingi MFB, Ajingi LGA, Kano State;

Garko MFB, Garko, Kano;

Kangiwa MFB, Kangiwa LGA, Kebbi State;

Augie MFB, Augie LGA, Kebbi State;

Mopa MFB, and Mopa, Kogi State.

Solid Base MFB, Ijumu LGA, Kogi State;

Ultimate Benefit MFB, Lokoja, Kogi State;

Ovidi MFB, Okene, Kogi State;

Kirfi MFB, Kirfi LGA, Bauchi;

Credit Express MFB, Kakawa Street, Lagos;

King Solomon MFB, Western Avenue, Iponri, Lagos;

Riggs MFB, Victoria Island, Lagos; Billionaire Blue Bricks MFB, Ajah, Lagos;

Susu MFB, Yaba, Lagos;

Wealthstream MFB, Apapa, Lagos;

Aguda Titun MFB, Ogba, Lagos and Sapphire MFB, Uyo, Akwa Ibom State.

Metro MFB, Ogba, Ikeja, Lagos, Mountain Top MFB, Trade Fair Complex, Lagos;

Unyogba MFB, Ofu LGA, Kogi State; Wapo MFB, Okene, Kogi State;

Ibogun MFB, Ifo LGA, Ogun State;

Korede MFB, Igbotako, Ondo State;

Ahetou MFB, Ogba/Egbema/Ndoni LGA, Rivers State

Fufore MFB, Yola, Adamawa State.

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