By Modupe Gbadeyanka
The financial system in Nigeria has again been thrown into disarray with the shutting down of 42 microfinance banks across the country.
The operating licence of the affected small lenders was revoked by the Central Bank of Nigeria (CBN), the main regulator of the banking sector in the country.
Already, depositors, shareholders and the creditors of the financial institutions closed by the CBN are in a panic mode because of the experiences of victims of other banks shut by the regulator.
But the Nigeria Deposit Insurance Corporation (NDIC), which acts as the official liquidator of the banks whose licenses were recently cancelled, has assured depositors of the part payment of the money if it is within the limit it can pay.
The agency, in a statement, disclosed that it was already “in the process of closing the listed banks and pay their insured depositors.”
In view of this, it has asked “all depositors of these banks [to] visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, December 21, 2020, till Thursday, December 24, 2020.
The affected banks are:
| S/N | BANK | ADDRESS |
| 1 | HEDGEWORTH MFB | GUOBA PLAZA SUITE B06, – 171, A.E. EKUKINAM STREET, BY CHISCO, UTAKO, ABUJA |
| 2 | FUTURE GROWTH MFB | REAL TOWER PLAZA, PLOT 1121 OBAFEMI AWOLOWO WAY, UTAKO, ABUJA |
| 3 | BAGWAI MFB | BAGWAI-SHANONO ROAD, BAGWAI LGA, KANO |
| 4 | ERE CITY MFB | ERE-IJESHA/IIIAHUN ROAD, ERE-IJESHA, ORIADE LGA, OSUN |
| 5 | CAFON MFB | GARKI POLICE BARRACKS, GARKII, FCT, ABUJA |
| 6 | AKCOFED MFB | EKIT ITAM II (BESIDE WATER BOARD), P. O. BOX 2048, UYO, AKWA-IBOM STATE |
| 7 | GUFAX MFB | N0. 3 UDOTUNG UBO STREET UYO, AKWA IBOM STATE |
| 8 | PARTNERSHIP MFB | 107 UPPER IWEKA ROAD, ONITSHA, ANAMBRA STATE |
| 9 | ICB MFB | IIIAH-ASABA ROAD, OSHIMILI NORTH LGA, IIIAH, DELTA STATE |
| 10 | ONIMA MFB | NIPOST BUILDING, EKEOCHA ONICHA, EZINIHITTE MBAISE LGA, IMO STATE |
| 11 | HOMETRUST (NATIONS) MFB | 76, ORLU ROAD, NKWERE, IMO STATE |
| 12 | RINGIM MFB | OPP. RINGIM CENTRAL MARKET, RINGIM, JIGAWA STATE |
| 13 | BIGTHANA MFB | 6, ALI AKILU ROAD, KADUNA |
| 14 | ROGO MFB | ROGO TOWN, ROGO LGA, KANO STATE |
| 15 | MAKODA MFB | NO 15, KOGUNA TOWN, MAKODA LGA, KANO |
| 16 | TAKAI MFB | TAKAI TOWN, TAKAI LGA, KANO STATE |
| 17 | BEBEJI MFB | NO. 10 GIDAN IYAN, BEBEJI TOWN, BEBEJI L.G.A., KANO STATE |
| 18 | AJINGI MFB | NO. 10 HAKIMI STREET, AJINGI TOWN, AJINGI LGA, KANO STATE |
| 19 | GARKO MFB | 3, GARKO TOWN, KANO |
| 20 | KANGIWA MFB | KANGIWA TOWN, KANGIWA LGA, KEBBI STATE |
| 21 | AUGIE MFB | AUGIE TOWN, AUGIE LGA, KEBBI STATE |
| 22 | MOPA MFB | SILAS BAMIDELE DANIYAN HOUSE, KABBA-ILORIN ROAD, MOPA, KOGI-STATE |
| 23 | SOLID BASE MFB | EKIRIN ADDE, IJUMU LGA, KOGI STATE |
| 24 | ULTIMATE BENEFIT MFB | 150C, OKENE KABBA ROAD, LOKOJA, KOGI |
| 25 | OVIDI MFB | NO. 1, ATTA ROAD, OKENE, KOGI STATE |
| 26 | KIRFI MFB | KIRFI TOWN, KIRFI LGA, BAUCHI |
| 27 | CREDIT EXPRESS MFB | 27, KAKAWA STREET, LAGOS |
| 28 | KING SOLOMON MFB | GOD BLESS NIGERIA HOUSE, 117/119, WETSERN AVENUE, IPONRI, LAGOS |
| 29 | RIGGS MFB | PLOT 5, IMAN ABIB ADETORO STREET, OFF AJOSE ADEOGUN STREET, V.I., LAGOS |
| 30 | BILLIONAIRE BLUE BRICKS MFB | APERIN HOUSE (2ND FLOOR) BLOCK I, PLOT 27, BUDO LAYOUT AJIWE, LEKKI EPE EXPRESSWAY, AJAH, LAGOS STATE |
| 31 | SUSU MFB | 34, COMMERCIAL AVENUE SABO, YABA, LAGOS |
| 32 | WEALTHSTREAM MFB | AQUARIUS BLOCK, ELEGANZA PLAZA, GROUND FLOOR, LEFT WING 1 COMMERCIAL ROAD, APAPA, LAGOS |
| 33 | AGUDA TITUN MFB | 21, SHONOLA STREET, AGUDA TITUN, OGBA, LAGOS |
| 34 | SAPPHIRE MFB | 111, ABAK ROAD, UYO, AKWA IBOM STATE |
| 35 | METRO MFB | 15, OTUNUBI STREET, OFF HARUNA, OGBA, IKEJA, LAGOS |
| 36 | MOUNTAIN TOP MFB | PROGRESS BLOCK, SHOP A102, AFRICAN TYRE VILLAGE, OPP. APT TRADE FAIR COMPLEX, LAGOS/BADAGRY EXPRESS WAY, LAGOS |
| 37 | UNYOGBA MFB | 1, ALOMA ROAD, OPP. MKT. SQ., EJULE, OFU LGA, KOGI STATE |
| 38 | WAPO MFB | OKENE-LOKOJA ROAD, NAGAZI, ADAVI LGA, OKENE, KOGI STATE |
| 39 | IBOGUN MFB | IBOGUN EGBEDA, IFO LGA, OGUN STATE |
| 40 | KOREDE MFB | NO. 3, LUWOYE STREET, IGBOTAKO, ONDO STATE |
| 41 | AHETOU MFB | 26, EREMA ROAD, BYEPASS, AKABUKA, OGBA/EGBEMA/NDONI LGA, RIVERS STATE |
| 42 | FUFORE MFB | NO. 25 GURIN ROAD, FUFORE LGA, ADAMAWA, YOLA STATE |
Dipo Olowookere 
Aduragbemi Omiyale