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PR: 4
| New Heights Microfinance Bank Limited New heights Micro Finance Bank Limited was incorporated on May 17th, 2007 following the grant of an approval-in-principle by the Central Bank of Nigeria on 14th May 2007. The bank obtained the final operating license on August 6, 2007. |
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PR: 3
| Alliance Microfinance Bank Limited Alliance Microfinance Bank was incorporated as a private limited liability company on January 29, 2004. The bank received its operating license as “Alliance Community Bank” on December 16, 2004, and commenced operations on April 1, 2005. Following the Central Bank of Nigeria (CBN) Microfinance Policy Regulatory and Supervisory Framework, Alliance applied for a microfinance license, and became the first bank in Abuja to acquire such certification on December 6, 2007. |
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PR: 3
| Accion Microfinance Bank Limited Accion Microfinance Bank Limited was incorporated in May 2006 to carry on microfinance banking business and was granted an operating license by the Central Bank of Nigeria in April, 2007. Accion commenced business operations in May 2006. |
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PR: 3
| Allover Microfinance Bank LImited Allover Microfinance bank Ltd was recently licensed by the central bank of Nigeria to carry out microfinance baking activities in Lagos state. |
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PR: 2
| Integrated Microfinance Bank Limited Integrated Microfinance Bank (MFB) Plc was incorporated as a wholly indigenous limited liabilitycompany on June 16, 2006 following the grant of an approval-in-principle by the Central Bank of Nigeria on 31st May 2006. The bank obtained the final operating license as the first micro finance bank in Nigeria on September 2, 2006 with an authorized share capital of N250 million divided into 250 million ordinary shares of N1.00 each.The authorized share capital was subsequently increased to N 500 million and N 2 billion to accommodate the teeming high net worth individuals yearning to have a stake in the Bank.IMFB was promoted by a group of investors who saw the gap in the micro finance segment of the financial industry. Preparation of documentations for licensing commenced in December 2005, upon the official launching of the micro finance policy in Nigeria by the then President and Commander-in-Chief of the Federal Republic of Nigeria, Chief Olusegun Obasanjo. |
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PR: 2
| Seedvest Microfinance Bank Limited Operating under a license issued by the Central Bank of Nigeria, Seedvest Microfinance Bank provides financing and savings services to individuals, groups, associations and corporations. The Bank's aim is to assist clients create wealth by supporting asset acquisition, business creation and savings activities. Seedvest currently operates a Unit Microfinance Bank license in Ibadan, Oyo State. |
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PR: 1
| Legend Microfinance Bank Limited Legend Microfinance Bank Nigeria Limited was incorporated in September 1992 as Inisa Community Bank Nigeria Limited with Registration Certificate (RC) No. 205591. The Bank was commissioned to commence community banking business in December 1992 having also secured community banking approval from National Board for Community Banks (NBCB).In May, 2004 the Central Bank of Nigeria (CBN) granted the Bank a final license to operate as a full fledged Community Bank having met all the requirements for the license. Interestingly, the required paid up capital as at then was N5, 000,000.00, the bank had over N10m as shareholders funds. As at the end of 2004 financial year, the Bank had increased its share capital (authorised) to N20, 000,000.00 at the Corporate Affairs Commission (CAC), Abuja. |
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PR: 1
| Gapbridge Microfinance Bank Limited Gapbridge Microfinance Bank Ltd was incorporated in May 2007 and commenced operations in November, 2007 as a specialized financial institution dedicated to providing financial services to micro, small and medium enterprises (MSMEs) and emerging businesses looking for opportunities to increase their potential for success. The company also aims to render payment services such as salaries, gratuities and pensions for various segments of the market, in addition to providing services to the MSMEs |
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PR: 1
| Glory Microfinance Bank Limited Glory Micro Finance Bank Limited (GMFB) commenced operations as a micro finance bank in January 2008 with authorized and paid up share capital of N32 million. |
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PR: 1
| Ilobu Microfinance Bank Limited Ilobu MicroFinance Bank was incorporated as a limited liability Company on 24 February 1991,it commenced banking operation in October 1993.The head office/unit branch of Ilobu MicroFinance bank is in Ilobu,Osun State.The bank was established to carry on general financial and banking business and general financial operations of all kinds and in particular to lend or advance money. Over the years,We provide a range of high quality banking services to our various customers through. |
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PR: 0
| Broadview Microfinance Bank Limited Broadview Microfinance (MFB) Ltd, is a wholly owned Nigerian company that was incorporated on the 11th June 2007 and licensed to carry out the business of Micro financing Banking by the Central Bank of Nigeria on the 27th August 2007. Our Corporate head office is located at No. 52, Odunlami Street, Central Lagos Business District. |
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| Eagle Flight Microfinance Bank Limited Eagle Flight Micro-Finance Bank Ltd is a financial institution duly licensed and registered with the Central Bank of Nigeria. Our Functions are to assist our Community to develop economically and to improve their standard of Living. To Professionally Empower our Community, encourage entrepreneural development, instill the culture of savings,Bridge the gap between the poor and the rich by using the best of people and technology; while delivering good returns to all Stakeholders. |
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PR: 0
| Fieldreams Microfinance Bank Limited Since inception in 2003, Fieldreams and its people have helped redefine the concept of financial Services provision.Fieldreams Group has positioned itself to be the strategic consulting and advisory company, an essential partner to its clients.Key facts of this positioning include: Delivering value-added advice, products and services to clients with unmatched levels of quality and integrity,Investing in opportunities for growth and diversification that take advantage of the firms, strength and global client franchise,Operating with discipline and focus throughout the firm to ensure that the appropriate resources are commited to each business opportunity. Managing risk and capital to ensure efficient development and appropriate returns on stakeholders equity. |
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PR: 0
| First Choice Microfinance Bank Limited FCMFB is the microfinance bank of choice with a mission to empower micro-entrepreneurs and low income earners in a sustainable, ethical and profitable manner. |
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PR: 0
| Freedom Microfinance Bank limited Freedom microfinance bank started as Madobi Community Bank at Madobi town in Madobi Local Government Area of Kano State, Nigeria.The bank was Restructured, Recapitalized and Relocated to the city of Kano the Capital of Kano State which has a population of about 10 million (National Census, 2006). Leading up to the end of 2007, Madobi Community Bank was the only Community Bank operating in the city of Kano with a population of about 2 Million inhabitants.Madobi Community bank was given approval by the CBN to convert to and change its Name to FREEDOM MICRO FINANCE BANK.We cater to the banking needs of the small scale entrepreneurs and enterprises that are finding it very difficult to access credits due to poor operating capacity and know-how, meagre savings rate and low banking services requirement. |
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| Flourish Microfinance Bank LImited Flourish Microfinance Bank Ltd was incorporated in March 11th 2008 as a wholly indigenous Limited liability company following the grant of approval in principle by the Central Bank Of Nigeria in January 25th 2008 under the company and allied matter decree. The Bank obtained its operating license in May 2008, with an authorized share capital of 500 million dividend into 500 million ordinary shares of =N=1.00. |
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| Fortis Microfinance Bank Limited Fortis Microfinance Bank Limited was licensed to operate as a Microfinance Bank in October 2007 after it obtained an Approval in Principle in June 2007 from the CBN and has the plan to grow to a nation–wide Microfinance Bank with focus on Medium scale Entrepreneurs, traders, economically active, poor, economically disadvantaged and people who are underserved or underbanked in Nigeria starting from the FCT. |
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| Harmony Microfinance Bank LImited Harmony Microfinance Bank Ltd. is committed to excellent service delivery. Excellence is our watchword and we commit that it will always be timely, convenient, innovative and error free in all our banking transactions. In our bid to ensure process excellence and customers' convenience, we have in place appropriate platforms in our processes and systems by adopting a cutting edge and user-friendly information and communication technology media. |
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PR: 0
| Haggai Microfinance Bank Limited Haggai Savings and Loans Limited (Mortgage Bankers) whose registered office is at 119, Bode Thomas Street, Surulere, Lagos, Nigeria was established upon the vision received by the General Overseer of the Redeemed Christian Church of God, Pastor E. A. Adeboye.Haggai Savings and Loans Bank commenced operations in 1994 as Haggai Investment & Trust Company Limited (as a SEC licensed financial institution). Early in 1998, the group embarked on a process of capitalisation that would move its ownership to a wide range of believers by acquiring a Banking license. |
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PR: 0
| Crest Microfinance Bank Limited The bank was incorporated as a limited liability company in 5th January 1994 with registration number: RC: 235676 and commenced Community Banking operation in the same year. The bank received the final (CBN) Central Bank of Nigeria approval to carry on all aspects of Community Banking business on 25th May 2004. |
| MICRO-FINANCE BANKING LICENSE REQUIREMENTS The growing awareness of the potential of microfinance in poverty reduction, economic growth and development coupled with the emergence of several highly successful and fast growing Micro Finance Institutions [MFIs], has effectively put the issue of microfinance on the political agenda of most developing countries. | |
Lifeline for microfinance banks - NEXT
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Nigeria at 50: 'We have a long way to go' - Nigerian Tribune
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Defaulting Bank: CBN Urged To Renew Downward Penalties - Nigerian Observer
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Nigeria: CMO Tasks Govt On Poverty Reduction - AllAfrica.com
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Microfinance bank MDs to write CBN exam – The Guardian - Nigerian Bulletin
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Why Journalists Should Re-examine Themselves –Oba - Nigeria Daily Independent
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Agency signs memorandum with microfinance banks - NEXT
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SMEDAN signs MoU with six Microfinance Banks on micro-credit - The Punch
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Recapitalisation: Unity Bank moves to raise N24bn - The Punch
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Microfinance bank operators to be trained - NEXT
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