Full list: NDIC to investigate directors of 183 failed MfBS, PMBs

The Nigeria Deposit Insurance Corporation (NDIC), on Thursday, August 17, 2023, revealed that directors of failed 183 microfinance banks and Primary Mortgage Banks will soon face investigation over their roles in the collapse of the institutions.

The managing director/chief executive officer of NDIC, Bello Hassan, disclosed this during a workshop organised by the corporation for security and law enforcement agencies in Lagos.

NDIC liaising with security agencies for investigation

Vanguard reports that Hassan said the corporation would soon approach security agencies to investigate some of the failed banks' directors and bosses to bring them to justice and hold them accountable for their collapse.

He added that the corporation would partner with security and law enforcement agencies to prosecute insider abuses in banks, stating that the move has yielded results in the past.

The NDIC boss further said the workshop is designed to complement the Inter-Agency Task Force's efforts to implement the Failed Banks Act.

Hassan assured that the Corporation would maintain standards and ensure that the public understands the safety of their bank deposits.

Punch reports that the NDIC MD revealed that the Corporation would continue strengthening the financial system to support Nigeria's economic advancement and contribute meaningfully to its financial system and stability.

According to the NDIC boss, the role of the Corporation is to continue to play a critical part in the financial safety net arrangement of Nigeria's banking system as a deposit insurer.

List of failed microfinance banks

EVANGEL MICROFINANCE BANK

DOMINION MICROFINANCE BANK

ANYA MICROFINANCE BANK

AKWENGWU MICROFINANCE BANK

FADAMA FARMERS MICROFINANCE BANK

SAL-FOL MICROFINANCE BANK

MAUTECH MICROFINANCE BANK

WASE MICROFINANCE BANK

SMARTMICRO MICROFINANCE BANK

AMBA MICROFINANCE BANK

BRIDGE HOUSE MICROFINANCE BANK

MONEY WELL MICROFINANCE BANK

OTUKPO MICROFINANCE BANK

OLOGBON MICROFINANCE BANK

BESTWAY MICROFINANCE BANK

BIYAMA MICROFINANCE BANK

GREENLAND MICROFINANCE BANK

FASILDAPO MICROFINANCE BANK

SUNRISE MICROFINANCE BANK

JOINT FARMERS MICROFINANCE BANK

PROLIFIC MICROFINANCE BANK

HALMOND MICROFINANCE BANK

AJIKOBI MICROFINANCE BANK

KOGI MICROFINANCE BANK

EYOWO MICROFINANCE BANK

ARISE MICROFINANCE BANK

ISI-AKU MICROFINANCE BANK

BMAZAZHIN MICROFINANCE BANK

INI MICROFINANCE BANK

NARICT MICROFINANCE BANK

INTERLAND MICROFINANCE BANK

EHOR MICROFINANCE BANK

BIBAJINRE MICROFINANCE BANK

GOLDEN FUNDS MICROFINANCE BANK

GWADABAWA MICROFINANCE BANK

IBA MICROFINANCE BANK

EDUMANA MICROFINANCE BANK

WEST-END MICROFINANCE BANK

UMEJEI MICROFINANCE BANK

MOUAU VASMUCS MICROFINANCE BANK

JAMIS MICROFINANCE BANK

NEW WORLD MICROFINANCE BANK

ABESTONE MICROFINANCE BANK

NSEHE MICROFINANCE BANK

OSOGBO MICROFINANCE BANK

CROSSOVER MICROFINANCE BANK

DANGIZHI MICROFINANCE BANK

List of 132 microfinance banks' licences revoked, others – Second gazette

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 (FORMERLY 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 CO-OPERATIVE 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

DANIELS 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 LIMTED

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

BISHOPSGATE 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