BREAKING: CBN Revokes Licenses of 46 Microfinance Banks

CBN Revokes Licenses of 46 Microfinance Banks

The Central Bank of Nigeria (CBN) has revoked the operating licenses of 46 Microfinance Banks effective July 1, 2026.

Affected banks include:

• Minji-Se Churchill MFB

• Merchant MFB

• Janmaa MFB

• Busu MFB

• Gold MFB

• Zain MFB

• Bompai MFB

• Ajwa MFB

• NOW NOW Digital MFB

• Crystabel Microfinance Bank

• Chanelle MFB

• Abia SME MFB

• Kamba MFB

• Iwade MFB

• Winview MFB

• Zuru MFB

• Minjibir MFB

• Shanono MFB

• Sumaila MFB

• Rimin Gado MFB

• Mwaghavul MFB

• Sycamore MFB

• TOFA MFB

• Safegate MFB

• Creekline MFB

• Bestar MFB

• Livingspring MFB

• Apple MFB

• Stanford MFB

• Frontline MFB

• Zafec MFB

• Supreme MFB

• Bejin-Doko MFB

• Kanopoly MFB

• Bellbank MFB

• Yeneng MFB

• Creditville MFB

• MBAG MFB

• Straight Sahara MFB

• OurPass MFB

• Verdant MFB

• Basawa MFB

• Casha MFB

• Esteem MFB

• Entrepreneur MFB

• Avantus MFB

CBN stated that the affected institutions failed to meet regulatory requirements for continued operation.