CBN revokes licences of 139 microfinance, mortgage banks (Full list) - Newstrends
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CBN revokes licences of 139 microfinance, mortgage banks (Full list)

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CBN revokes licences of 139 microfinance, mortgage banks (Full list)

The Central Bank of Nigeria (CBN) has revoked the operating licences of 132 microfinance banks, three finance companies and four primary mortgage banks.

Governor of the CBN, Godwin Emefiele, announced the revocation of the licences of the institutions on Monday, an official gazette of the Federal Government said.
Emefiele revoked the licences in exercise of the powers conferred on CBN under section 12 of the Banks and Other Financial Institutions Act (BOFIA), 2020, Act No. 5.
The gazette stated that the revocation list was published in accordance with the BOFIA 2020, Act No 5.

“The respective firms have ceased to carry on, in Nigeria, the type of business for which their licences were issued for a continuous period of 6 months,” the document read.

“The firms have 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.”

Microfinance Banks Licences Revoked

Atlas Microfinance Bank

Bluewhales Microfinance Bank

Everest Microfinance Bank

Igangan Microfinance Bank

Mainsail Microfinance Bank

Merit Microfinance Bank

Minna Microfinance Bank

Musharaka Microfinance Bank

Nopov Microfinance Bank

Ohon Microfinance Bank

Premium Microfinance Bank

Royal Microfinance Bank

Statesman Microfinance Bank

Suisse Microfinance Bank

Vibrant Microfinance Bank

Virtue Microfinance Bank

Zamare Microfinance Bank

North Capital Microfinance Bank

Chidera Microfinance Bank

Excellent Microfinance Bank

Ni’ima Microfinance Bank

Cosmopolitan Microfinance Bank

Progressive Link Microfinance Bank

Trust One Fomerly Desmonarchy

Ekuombe Microfinance Bank

First Index Microfinance Bank

Ola Microfinance Bank

Uli Microfinance Bank

Verdant Microfinance Bank

Aguleri Microfinance Bank Limited

Apeks Microfinance Bank Limited

Fahimta Microfinance Bank Limited

Manny Microfinance Bank Limited

Reality Microfinance Bank Limited

Surbpolitan Microfinance Bank Limited

Onyx Microfinance Bank Limited

Osina Microfinance Bank Limited

Olofin-Owena Microfinance Bank Limited

Zikado Microfinance Bank Limited

Prudential Cooperative Microfinance Bank Limited

Peniel Microfinance Bank Limited

Taraba Microfinance Bank Limited

Brass Microfinance Bank Limited

Michika Microfinance Bank Limited

Ndiagu Microfinance Bank Limited

Northbridge Microfinance Bank Limited

FCT Microfinance Bank Limited

Omu-Aran Microfinance Bank Limited

Cherish Microfinance Bank Limited

Bipc Microfinance Bank Limited

Danels Global Microfinance Bank Limited

Bancorp Microfinance Bank Limited

Manna Microfinance Bank Limited

Moneywise Microfinance Bank Limited

Mercury Microfinance Bank Limited

New Age Microfinance Bank Limited

Pearl Microfinance Bank Limited

Zawadi Microfinance Bank Limited

Seed Capital Microfinance Bank Limited

Eduek Microfinance Bank Limited

Eksu Microfinance Bank Limited

Dakingari Microfinance Bank Limited

Ogoja Microfinance Bank Limited

Nwabosi Microfinance Bank Limited

Nuture Microfinance Bank Limited

Active Point Microfinance Bank Limited

Amoye Microfinance Bank Limited

Boluwaduro Microfinance Bank Limited

Iyede Microfinance Bank Limited

Mayfair Microfinance Bank Limited

Calabar Microfinance Bank Limited

Ighomo Microfinance Bank Limited

Hackman Microfinance Bank Limited

Idese Microfinance Bank Limited

Bridgeway Microfinance Bank Limited

Grassroot Microfinance Bank Limited

Surelife Microfinance Bank Limited

Tijarah Microfinance Bank Limited

Ic-Global Microfinance Bank Limited

Ejiamatu Microfinance Bank Limited

Briyth Covenant Microfinance Bank Limited

Nanka Microfinance Bank Limited

Cub Microfinance Bank Limited

BFL Microfinance Bank Limited

Umunne Microfinance Bank Limited

Oroke Microfinance Bank

Alkaleri Microfinance Bank Limited

Crowned Eagle Microfinance Bank Limited

Unifa Microfinance Bank Limited

Dadinkowa Microfinance Bank Limited

Ifesowapo Microfinance Bank Limited

Oaf Microfinance Bank Limited

Bama Microfinance Bank Limited

Ngala Microfinance Bank Limited

Iwoama Microfinance Bank Limited

Kada Microfinance Bank Limited

Keffi Microfinance Bank Limited

Nut-Endwell Microfinance Bank Limited

First Multiple Microfinance Bank Limited

SBDC Microfinance Bank Limited

Oros Capital Microfinance Bank Limited

Ozizza Microfinance Bank Limited

Primera Credit Microfinance Bank Limited

Ifeanyichukwu Microfinance Bank Limited

Ihioma Microfinance Bank Limited

Josad Microfinance Bank Limited

Akpo Microfinance Bank Limited

Aiyepe Microfinance Bank Limited

ABC Microfinance Bank Limited

Star Microfinance Bank Limited

Purple Money Microfinance Bank Limited

Utuh Microfinance Bank Limited

Stallion Microfinance Bank Limited

Kjl Microfinance Bank Limited

Credit Afrique Microfinance Bank Limited

Cowries Microfinance Bank Limited

Lawebod Microfinance Bank Limited

Mabinas Microfinance Bank Limited

Business Support Microfinance Bank Limited

Ogbe-Ahiara Microfinance Bank Limited

Olofin Microfinance Bank Limited

Obosi Microfinance Bank Limited

Fiyinfolu Microfinance Bank Limited

Bishopgate Microfinance Bank Limited

Awka Microfinance Bank Limited

Zigate Microfinance Bank Limited

Esan Microfinance Bank Limited

Enugu-Ukwu Microfinance Bank Limited

Echo Microfinance Bank Limited

Ally Microfinance Bank Limited

Network Microfinance Bank Limited

Awgbu Microfinance Bank Limited

Finance Companies Licences Revoked

HHL Invest and Trust Limited

TFS Finance Limited

Treasures and Trust Limited

PMBs Licences Revoked

Resort Savings and Loans

Safetrust Mortgage Bank

Adamawa Savings and Loans

Kogi Savings and Loans

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Insurance

Stanbic IBTC Insurance Wins Top Honour at CRe Africa Awards 2026

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L-R: Managing Director, Lasaco Assurance Plc, Ademoye Shobo; Managing Director, Continental Re, Dr. Fatai Lawal; Managing Director/Chief Executive Officer of Cornerstone Insurance Plc, Mr. Stephen Alangbo; Josephine Ogundeji; Group CEO of Continental Reinsurance Holdings, Lawrence Nazare; Blessing Ifechukwude; Chief Executive, Stanbic IBTC Insurance Limited, Mr Jide Orimolade; Henry Uche; Chief Underwriting Officer – Facultative, Continental Reinsurance, Bashir Akinsiku
L-R: Managing Director, Lasaco Assurance Plc, Ademoye Shobo; Managing Director, Continental Re, Dr. Fatai Lawal; Managing Director/Chief Executive Officer of Cornerstone Insurance Plc, Mr. Stephen Alangbo; Josephine Ogundeji; Group CEO of Continental Reinsurance Holdings, Lawrence Nazare; Blessing Ifechukwude; Chief Executive, Stanbic IBTC Insurance Limited, Mr Jide Orimolade; Henry Uche; Chief Underwriting Officer – Facultative, Continental Reinsurance, Bashir Akinsiku

Stanbic IBTC Insurance Wins Top Honour at CRe Africa Awards 2026

Stanbic IBTC Insurance Limited has emerged as the overall winner of the CRe Momentum Award at the inaugural CRe Insurance Awards for Africa 2026, announced during the Continental Reinsurance CEO Summit held in Kigali, Rwanda, on April 17, 2026.

The prestigious award recognises insurers that demonstrate consistent growth, strong financial performance, and strategic impact across Africa’s insurance industry. Stanbic IBTC Insurance was singled out for its disciplined execution, strong commercial results, and highly effective bancassurance model, which has significantly driven its life insurance growth.

Judges at the awards noted that the company’s bancassurance strategy—leveraging banking platforms to distribute insurance products—remains one of the most efficient on the continent. The firm’s ability to combine innovation, customer reach, and operational efficiency has positioned it as a leader in Nigeria’s insurance market.

Beyond its growth metrics, Stanbic IBTC Insurance has built a reputation for prompt claims settlement, sound risk management, and customer-focused service delivery, further strengthening trust among policyholders and stakeholders.

In the same CRe Momentum Award category, Cornerstone Insurance Plc (Nigeria) secured second place, while La Générale des Assurances (Benin) finished third, reflecting strong competition among leading African insurers.

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In the Emerging Champions category, which celebrates fast-growing and innovative insurance companies, Agrails Ltd (Kenya) emerged winner, while Britam Connect (Kenya) came second.

The event also featured the 11th Pan-African Re/Insurance Journalism Awards, organised by Continental Reinsurance Plc, to honour excellence in reporting the insurance and reinsurance sector across Africa. A total of 184 entries from both Anglophone and Francophone countries were reviewed.

Uganda’s Isaac Khisa of The Independent Publications was named Overall Winner, also clinching the top spot in the English Print category for his report on Africa’s reinsurance market. Nigeria’s Josephine Ogundeji of Punch Newspaper was named first runner-up, while Ojeme Sunday of New Telegraph came second.

In the English Online category, Henry Uche of Daily Sun (Nigeria) emerged winner, followed by Isaac Khisa as first runner-up and Tendai Makaripe of 263 Chat (Zimbabwe) as second runner-up.

The English Broadcast category was won by Blessing Ifechukwude of Voice of Nigeria, with Mercy Tyra Murengu of Media Max Network (Kenya) and Samuel Nana Effah Obeng of GN Media (Ghana) finishing as first and second runners-up respectively.

Taurai Museka won the English Social Media category, while winners also emerged from Burkina Faso in the French category and Egypt in the Arabic category, highlighting the awards’ growing continental reach.

Additionally, Josephine Ogundeji received the Dr Femi Oyetunji Future Talent Award, while Mercy Tyra Murengu earned Special Recognition for her contribution.

Speaking at the event, Group CEO of Continental Reinsurance Holdings, Lawrence Nazare, said the inclusion of 10 new participating countries reflects the expanding influence of the awards across Africa. Chief Judge Michael Wilson also noted that the quality of entries continues to improve, making the selection process increasingly competitive.

Winners across categories received certificates, trophies, and cash prizes, with the overall winner earning $2,000, category winners receiving $1,500, first runners-up $1,000, and second runners-up $500.

The launch of the CRe Insurance Awards for Africa marks a significant step in recognising excellence, innovation, and leadership within the continent’s insurance ecosystem. Stanbic IBTC Insurance’s victory further reinforces Nigeria’s growing role as a hub for insurance innovation and life insurance expansion in Africa.

Stanbic IBTC Insurance Wins Top Honour at CRe Africa Awards 2026

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Jetour Nigeria consolidates as sole authorised distributor, gets global market award

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Jetour Nigeria consolidates as sole authorised distributor, gets global market award

Jetour Nigeria has consolidated its position as the exclusive representative of the Jetour brand in the country following its 2022 appointment by Jetour International.

The company said the move to clarify its exclusive status came after its successful hosting of the “Jetour Experience” in Lagos, where it unveiled its nationwide dealership structure and addressed lingering market ambiguity over distribution rights.

Since securing the mandate in 2022, Jetour Nigeria has led the importation, distribution, and provision of manufacturer-backed after-sales services for the brand’s full vehicle range in the country.

Its growing influence recently earned global recognition at the 2026 Jetour Global Conference, where the firm received the “Market Share Leadership Award 2025,” underscoring its dominance in the African market.

To strengthen nationwide service delivery, the company operates through a network of seven authorised dealers — Elizade Nigeria Limited, New Era Autovehicle Services Limited, Kojo Motors, Germaine Auto Centre, R.T. Briscoe Plc, TAB Autos Limited, and Mandilas Motors.

These partners, according to the company, are the only entities authorised to sell and service Jetour vehicles in Nigeria.

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At the four-day exhibition held at the Podium Events Centre, the dealers provided product information and customer engagement services, reinforcing what the company described as a unified and regulated distribution ecosystem.

“The ‘Jetour Experience’ was more than a celebration; it was a statement of clarity,” noted a representative of Jetour Nigeria. “By bringing our seven authorized dealers together under one roof, we have shown the public exactly where the Jetour brand lives.

“Since our 2022 appointment, we have invested heavily in a structure that guarantees customers genuine parts, expert technicians, and valid warranties—benefits, only available through our official channels.”

The company also received a boost from the visit of Anguo Yuan, Vice President of Jetour International, who commended the Nigerian team for its rapid expansion and infrastructure investment.

Industry recognition has followed the brand’s growth, with awards including the Nigeria Auto Journalists Association’s New Entrant of the Year, Fastest Growing Auto Brand, and Car of the Year for the Jetour Dashing.

Jetour Nigeria said its current lineup — including the rugged T2, plug-in hybrid models, and the flagship G700 — reflects its commitment to innovation and market leadership.

It advised customers to engage only its authorised dealer network to guarantee access to genuine parts, certified service, and full manufacturer warranty coverage.

 

Jetour Nigeria consolidates as sole authorised distributor, gets global market award

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Railway

Rail transformation on Abuja–Kaduna route excites NIPR delegates 

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L-R: Chairman, NIPR Akwa Ibom State Chapter, Dr Manasseh Umortte; Lagos State Chairman, Dr Samuel Ayetutu; Vice Chairman, Cross River Chapter, Amb. Deborah Grace Awatte (representing Dr Austin Mboso); Edo State Chairman, Dr James Wisdom Abholimen; Bayelsa State Chairman, Dr. Ebowari Wariowei, and Dr Mohammed Kudu Abubakar, Fellow, NIPR and Chairman Planning Committee, World Public Relations Conference, holding at Kaduna State, inside the NRC coach…on Monday.

Rail transformation on Abuja–Kaduna route excites NIPR delegates 

 

Members of the Nigerian Institute of Public Relations (NIPR) have applauded the ongoing transformation of Nigeria’s rail system, describing it as a clear sign of renewed confidence in public transport under the leadership of Dr. Kayode Opeifa at the Nigerian Railway Corporation (NRC).

The commendation came on Monday as hundreds of NIPR members travelled aboard the Abuja–Kaduna train to attend the Institute’s Annual General Meeting in Kaduna.

The journey itself became a moving testament to the rail sector’s resurgence, with fully booked coaches buzzing with networking, reunions and professional camaraderie.

Delegates from across the country, particularly from the southern states, converged on Abuja before boarding the train alongside their counterparts from the Federal Capital Territory.

For many, the decision to travel by rail was both practical and symbolic—a vote of confidence in the improving fortunes of the NRC.

Inside the coaches, the atmosphere was said to be lively. Old colleagues reconnected, new relationships were forged, and passengers commended the professionalism and efficiency of NRC staff.

Many described the experience as seamless and refreshing, noting that with the right leadership, public institutions can deliver quality service.

While praising the progress recorded so far, the NIPR members called on the Federal Government to deepen investment in rail infrastructure.

They stressed that sustained funding is critical, given the capital-intensive nature of railway operations, and expressed confidence that such investments would yield strong economic returns.

Among dignitaries on board were the Olumobi of Imobi-Ijesha, Oba Dr. Jacob Adetayo Haastrup; President of the Broadcasting Organisations of Nigeria, Chief Tony Akiotu; and media veteran, Dr. Mohammed Kudur Abubakar.

Oba Haastrup particularly commended President Bola Tinubu for appointing Opeifa as NRC Managing Director, noting that his performance within a year highlights the corporation’s potential as a driver of economic growth.

Lagos NIPR Chairman, Dr. Samuel Ayetutu, said the coordinated rail trip was also influenced by safety considerations and served as a deliberate endorsement of the NRC’s ongoing reforms.

He urged the government to extend rail connectivity to more parts of the country, providing Nigerians with reliable alternatives to road travel.

The NRC delegation to the conference was led by its Chief Public Relations Officer, Mr. Callistus Unyimadu, alongside the MD’s Special Assistant on Media and Communication, Mr. Yinka Aderibigbe.

The Kaduna conference, which runs until April 24, is expected to equip communication professionals with fresh insights and innovations in public relations practice.

It also serves as a precursor to the World Public Relations Conference scheduled to hold in Abuja later this year, where global stakeholders will converge to address emerging challenges in the profession.

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