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JUST IN: CBN Revokes Operating Licenses of More Than132 MFBs, others (FULL LIST)

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The licenses of more than 132 Microfinance banks, including four primary mortgage banks and three finance companies in Nigeria have been revoked by the Central Bank of Nigeria, this is according to the Official Gazette of Nigeria, obtained from CBN’s website on Tuesday.

According to CBN, the licenses of the financial institutions and companies were revoked because they ceased to carry on their business in Nigeria for a period of six months.

The country’s apex bank said that the institutions and companies failed to fulfil or comply with the conditions with which their licenses were given, adding that the revocation of the institution’s and companies’ licenses is in line with the provision of the Banks and Other Financial Institutions Act, BOFIA 2020, Section 12, Act No.5.

See full list:

1. ATLAS MICROFINANCE BANK 2. BLUEWHALES MICROFINANCE BANK 3. EVEREST MICROFINANCE BANK 4. IGANGAN MICROFINANCE BANK 5. MAINSAIL MICROFINANCE BANK 6. MERIT MICROFINANCE BANK 7. MINNA MICROFINANCE BANK 8. MUSHARAKA MICROFINANCE BANK 9. NOPOV MICROFINANCE BANK 10. OHON MICROFINANCE BANK 11. PREMIUM MICROFINANCE BANK 12. ROYAL MICROFINANCE BANK 13. STATESMAN MICROFINANCE BANK 14. SUISSE MICROFINANCE BANK 15. VIBRANT MICROFINANCE BANK 16. VIRTUE MICROFINANCE BANK 17. ZAMARE MICROFINANCE BANK 18. NORTH CAPITAL MICROFINANCE BANK 19. CHIDERA MICROFINANCE BANK 20. EXCELLENT MICROFINANCE BANK 21. NI’IMA MICROFINANCE BANK 22. COSMOPOLITAN MICROFINANCE BANK 23. PROGRESSIVE LINK MICROFINANCE BANK 24. TRUST ONE (FOMERLY DESMONARCHY) 25. EKUOMBE MICROFINANCE BANK 26. FIRST INDEX MICROFINANCE BANK 27. OLA MICROFINANCE BANK 28. ULI MICROFINANCE BANK 29. VERDANT MICROFINANCE BANK 30. AGULERI MICROFINANCE BANK LIMITED 31. APEKS MICROFINANCE BANK LIMITED 32. FAHIMTA MICROFINANCE BANK LIMITED, MANNY MICROFINANCE BANK LIMITED 34. REALITY MICROFINANCE BANK LIMITED 35. SURBPOLITAN MICROFINANCE BANK LIMITED 36. ONYX MICROFINANCE BANK LIMITED 37. OSINA MICROFINANCE BANK LIMITED 38. OLOFIN-OWENA MICROFINANCE BANK LIMITED 39. ZIKADO MICROFINANCE BANK LIMITED 40. PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED 41. PENIEL MICROFINANCE BANK LIMITED 42. TARABA MICROFINANCE BANK LIMITED 43. BRASS MICROFINANCE BANK LIMITED 44. MICHIKA MICROFINANCE BANK LIMITED 45. NDIAGU MICROFINANCE BANK LIMITED 46. NORTHBRIDGE MICROFINANCE BANK LIMITED 47. FCT MICROFINANCE BANK LIMITED 48. OMU-ARAN MICROFINANCE BANK LIMITED 49. CHERISH MICROFINANCE BANK LIMITED 50. BIPC MICROFINANCE BANK LIMITED 51. DANELS GLOBAL MICROFINANCE BANK LIMITED 52. BANCORP MICROFINANCE BANK LIMITED 53. MANNA MICROFINANCE BANK LIMITED 54. MONEYWISE MICROFINANCE BANK LIMITED 55. MERCURY MICROFINANCE BANK LIMITED 56. NEW AGE MICROFINANCE BANK LIMITED 57. PEARL MICROFINANCE BANK LIMITED 58. ZAWADI MICROFINANCE BANK LIMITED 59. SEED CAPITAL MICROFINANCE BANK LIMITED 60. EDUEK MICROFINANCE BANK LIMITED 61. EKSU MICROFINANCE BANK LIMITED 62. DAKINGARI MICROFINANCE BANK LIMITED 63. OGOJA MICROFINANCE BANK LIMITED 64. NWABOSI MICROFINANCE BANK LIMITED 65. NUTURE MICROFINANCE BANK LIMITED 66. ACTIVE POINT MICROFINANCE BANK LIMITED, AMOYE MICROFINANCE BANK LIMITED 68. BOLUWADURO MICROFINANCE BANK LIMITED 69. IYEDE MICROFINANCE BANK LIMITED 70. MAYFAIR MICROFINANCE BANK LIMITED 71. CALABAR MICROFINANCE BANK LIMITED 72. IGHOMO MICROFINANCE BANK LIMTED 73. HACKMAN MICROFINANCE BANK LIMITED 74. IDESE MICROFINANCE BANK LIMITED 75. BRIDGEWAY MICROFINANCE BANK LIMITED 76. GRASSROOT MICROFINANCE BANK LIMITED 77. SURELIFE MICROFINANCE BANK LIMITED 78. TIJARAH MICROFINANCE BANK LIMITED 79. IC-GLOBAL MICROFINANCE BANK LIMITED 80. EJIAMATU MICROFINANCE BANK LIMITED 81. BRIYTH COVENANT MICROFINANCE BANK LIMITED 82. NANKA MICROFINANCE BANK LIMITED 83. CUB MICROFINANCE BANK LIMITED 84. BFL MICROFINANCE BANK LIMITED 85. UMUNNE MICROFINANCE BANK LIMITED 86. OROKE MICROFINANCE BANK 87. ALKALERI MICROFINANCE BANK LIMITED 88. CROWNED EAGLE MICROFINANCE BANK LIMITED 89. UNIFA MICROFINANCE BANK LIMITED 90. DADINKOWA MICROFINANCE BANK LIMITED 91. IFESOWAPO MICROFINANCE BANK LIMITED 92. OAF MICROFINANCE BANK LIMITED 93. BAMA MICROFINANCE BANK LIMITED 94. NGALA MICROFINANCE BANK LIMITED 95. IWOAMA MICROFINANCE BANK LIMITED 96. KADA MICROFINANCE BANK LIMITED 97. KEFFI MICROFINANCE BANK LIMITED 98. NUT-ENDWELL MICROFINANCE BANK LIMITED 99. FIRST MULTIPLE MICROFINANCE BANK LIMITED 100. SBDC MICROFINANCE BANK LIMITED 101. OROS CAPITAL MICROFINANCE BANK LIMITED, OZIZZA MICROFINANCE BANK LIMITED B 465 103. PRIMERA CREDIT MICROFINANCE BANK LIMITED 104. IFEANYICHUKWU MICROFINANCE BANK LIMITED 105. IHIOMA MICROFINANCE BANK LIMITED 106. JOSAD MICROFINANCE BANK LIMITED 107. AKPO MICROFINANCE BANK LIMITED 108. AIYEPE MICROFINANCE BANK LIMITED 109. ABC MICROFINANCE BANK LIMITED 110. STAR MICROFINANCE BANK LIMITED 111. PURPLE MONEY MICROFINANCE BANK LIMITED 112. UTUH MICROFINANCE BANK LIMITED 113. STALLION MICROFINANCE BANK LIMITED 114. KJL MICROFINANCE BANK LIMITED 115. CREDIT AFRIQUE MICROFINANCE BANK LIMITED 116. COWRIES MICROFINANCE BANK LIMITED 117. LAWEBOD MICROFINANCE BANK LIMITED 118. MABINAS MICROFINANCE BANK LIMITED 119. BUSINESS SUPPORT MICROFINANCE BANK LIMITED 120. OGBE-AHIARA MICROFINANCE BANK LIMITED 121. OLOFIN MICROFINANCE BANK LIMITED 122. OBOSI MICROFINANCE BANK LIMITED 123. FIYINFOLU MICROFINANCE BANK LIMITED 124. BISHOPGATE MICROFINANCE BANK LIMITED 125. AWKA MICROFINANCE BANK LIMITED, ZIGATE MICROFINANCE BANK LIMITED 127. ESAN MICROFINANCE BANK LIMITED 128. ENUGU-UKWU MICROFINANCE BANK LIMITED 129. ECHO MICROFINANCE BANK LIMITED 130. ALLY MICROFINANCE BANK LIMITED 131. NETWORK MICROFINANCE BANK LIMITED 132. AWGBU MICROFINANCE BANK LIMITED.

LIST OF FINANCE COMPANIES LICENCES REVOKED:

1. HHL Invest & Trust Limited 2. TFS Finance Limited 3. Treasures & Trust Limited

LIST OF PRIMARY MORTGAGE BANKS LICENCES REVOKED

1. RESORT SAVINGS & LOANS 2. SAFETRUST MORTGAGE BANK 3. ADAMAWA SAVINGS & LOANS 4. KOGI SAVINGS & LOANS

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Dangote Fertiliser Limited Partners German’s Firm to License Four Urea Granulation Units

Commenting on the partnership, Nadja Haakansson, CEO of thyssenkrupp Uhde, said: “This partnership with Dangote Fertiliser Limited underscores our shared vision for sustainable industrial development and global food security.

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Thyssenkrupp Uhde Fertilizer Technology (UFT), a subsidiary of thyssenkrupp Uhde, has entered into a strategic agreement with Dangote Fertiliser Limited (DFL) to license its advanced UFT Fluid Bed Granulation Technology for four new urea granulation units in Nigeria.

The agreement includes the provision of the technology license, a comprehensive Process Design Package (PDP), and the supply of proprietary equipment such as granulators and scrubbers.

Each of the four new units will have a nameplate capacity of 4,235 metric tons per day, significantly boosting DFL’s annual urea granule production from approximately 2.65 million tons to over 8 million tons.

These units will be constructed in Lekki, adjacent to DFL’s existing fertilizer complexes, which have been operating with UFT technology since 2021 and produce 3,850 metric tons per day each.

The new facilities will incorporate UFT’s energy-efficient scrubbing system, designed to minimize pressure drop while effectively controlling dust and ammonia emissions to meet stringent environmental standards.

Additionally, the plants will feature the Ammonia Convert Technology (ACT), which integrates ammonium sulfate byproducts into the urea granules, eliminating waste streams and offering logistical and commercial advantages.

Commenting on the partnership, Nadja Haakansson, CEO of thyssenkrupp Uhde, said: “This partnership with Dangote Fertiliser Limited underscores our shared vision for sustainable industrial development and global food security.

By deploying our proven UFT®️ Fluid Bed Granulation Technology, we are setting new standards in efficiency and environmental stewardship in fertilizer production. We are proud to support DFL in building resilient and future-ready value chains.”

In the same vein, President of Dangote Group, Aliko Dangote, said: “We are pleased to deepen our collaboration with thyssenkrupp Uhde Fertilizer Technology for the expansion of our fertilizer operations in Lekki.

This initiative reflects our commitment to agricultural self-sufficiency and industrial progress across Africa.

With UFT®️ technology, we are ensuring the production of high-quality urea fertilizer that meets global standards while reducing environmental impact.

This investment further positions Nigeria as a leading fertilizer producer.”

Dangote Fertiliser Limited is one of Africa’s largest fertilizer producers, committed to enhancing agricultural productivity and supporting food security across the continent while thyssenkrupp Uhde’s UFT®️ Fluid Bed Granulation Technology is recognized globally as one of the most advanced solutions for producing urea granules.

Currently, over 70% of the world’s urea granule output is produced using this technology, contributing significantly to global food supply while maintaining emissions well below regulatory limits.

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How the Diaspora Is Shaping Real Estate Growth in Nigeria by Dennis Isong

Many Nigerians abroad also play a role in financing community development projects. Some pool resources with others to buy large parcels of land, build mini-estates, or even start property cooperatives.

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A few years ago, a young Nigerian named Tunde moved to the United Kingdom to pursue a master’s degree in data analytics.

Like many Nigerians in the diaspora, he planned to work for a few years, save up, and return home someday to build something meaningful.

Years passed, and while he achieved career success abroad, he remained deeply connected to home through his family, friends, and memories.

One day, after a video call with his mother who mentioned how the family house in Lagos was falling apart, he decided to invest in a new property.

That simple decision opened his eyes to an entirely new world—the booming real estate opportunities in Nigeria being driven largely by people like him in the diaspora.Tunde’s story is not unique. Across Europe, North America, the Middle East, and even other parts of Africa, Nigerians abroad are becoming the backbone of property development back home.

In fact, this growing wave of diaspora investment is changing the face of Nigeria’s real estate industry.

It is fueling urban renewal, increasing property values, and inspiring developers to raise construction standards to meet global expectations.

This article explores how the diaspora is shaping real estate growth in Nigeria and why this influence continues to deepen each year.

1. A New Wave of Confidence: Trust Returns to Nigerian Real Estate

For years, one of the biggest obstacles Nigerians abroad faced when trying to buy property at home was trust.

Many had fallen victim to fraudulent agents, fake land titles, or uncompleted projects that drained their hard-earned savings.

This mistrust created hesitation, and for a long time, the diaspora community preferred to keep their money abroad.But in recent years, something has shifted. With the rise of credible real estate companies, transparent documentation processes, and digital innovations in property verification, the confidence level has soared.

Reputable developers now provide video updates, virtual tours, and even live streams of construction progress. Diaspora clients can inspect their homes in real time from thousands of miles away.

This restored trust is one of the main reasons how the diaspora is shaping real estate growth in Nigeria.

People who once swore never to invest again are now buying second and third properties.

Developers, in turn, are building better, smarter, and more secure homes to match the expectations of these overseas investors.For example, in Lagos—particularly areas like Lekki, Ajah, and Ibeju-Lekki—many estates are designed with foreign-based Nigerians in mind.

From modern architecture to advanced security systems and reliable estate management, the diaspora’s expectations are raising the bar for the entire industry.

2. The Power of Remittances and Its Ripple Effect

According to the World Bank, Nigeria receives billions of dollars annually in remittances from its diaspora population.

A growing portion of these funds now flows into real estate. Instead of just sending money for family upkeep or short-term projects, many Nigerians abroad are strategically investing in long-term assets like land and houses.

This financial shift has a ripple effect. Every property purchase from the diaspora supports jobs for architects, builders, artisans, agents, and legal professionals.

It fuels infrastructure development, boosts the economy, and encourages local banks to create mortgage products tailored for Nigerians living abroad.To understand how powerful this is, imagine an engineer living in Canada who buys a plot of land in Epe and builds rental apartments.

That one decision doesn’t just secure his financial future; it also provides work for local construction teams, artisans, and suppliers.

Over time, an entire community benefits.That’s the deeper reality behind how the diaspora is shaping real estate growth in Nigeria—it’s not only about individual ownership but also about the indirect growth it creates in the ecosystem.

Each investment contributes to employment, development, and local empowerment.Interestingly, many Nigerians in the diaspora are no longer just buying homes for themselves.

They are building rental apartments, short-let properties, and commercial spaces. The idea is no longer simply to “have a house at home” but to create income-generating assets that continue to appreciate in value.

This mindset shift is driving serious long-term growth in the sector.

3. Modern Taste, Global Standards, and Smart Living

Anyone who has visited new estates in Lagos, Abuja, or Port Harcourt recently would agree that the face of real estate in Nigeria is changing fast.

And a big reason for this transformation is the influence of diaspora investors.Diaspora Nigerians have been exposed to efficient housing systems, energy-saving technologies, smart home designs, and well-organized communities abroad.

They want the same standards back home, and developers are responding. Features like smart locks, solar panels, CCTV, motion sensors, and centralized waste systems—once rare in Nigeria—are becoming more common.

This modern taste explains how the diaspora is shaping real estate growth in Nigeria in a visible, physical way. Developers are no longer just building houses; they are building lifestyles. Estates are being designed with amenities like gyms, green parks, co-working spaces, and recreational centers.

The goal is to create communities that feel both Nigerian and international.In fact, some developers now specifically brand their projects as “diaspora-friendly estates.”

These developments often feature simplified documentation, flexible payment plans in foreign currencies, and legal guarantees to attract confidence from overseas buyers.

The result is a growing market where quality, comfort, and convenience go hand in hand.This evolution is not only changing how homes are built but also how they are marketed.

Online visibility, digital tours, and social media campaigns are now at the center of real estate marketing strategies because most of the target audience lives thousands of miles away.

4. Diaspora Investors and the New Urban Development Drive

When Nigerians abroad invest in property, they don’t just buy land—they ignite transformation in the communities around them.

This is one of the most powerful ways the diaspora is shaping real estate growth in Nigeria.Take Ibeju-Lekki for instance.

Just over a decade ago, the area was largely undeveloped and sparsely populated. But as more Nigerians abroad began to buy land there, the interest of local investors and developers grew too. Today, it is one of the fastest-growing real estate corridors in West Africa, home to the Lekki Free Trade Zone, Dangote Refinery, and numerous housing projects.

The same pattern is visible in parts of Ogun State, Abuja outskirts, and Enugu. Diaspora investments encourage urban expansion by creating demand where there used to be little or none. When land is bought, roads are built.

When roads come, electricity, schools, and shops follow. In this way, diaspora investments don’t just grow real estate—they grow cities.

Many Nigerians abroad also play a role in financing community development projects. Some pool resources with others to buy large parcels of land, build mini-estates, or even start property cooperatives.

This collective approach brings more professionalism into real estate, ensures transparency, and accelerates urban development.Interestingly, these developments often set new benchmarks for quality living.

The houses are better structured, the roads are properly laid, and there’s usually a plan for drainage, recreation, and green spaces.

All of these improvements contribute to a more organized and sustainable city structure.

5. The Emotional Connection and Future of Diaspora-Driven Real Estate

Beyond economics and technology, there’s something deeper driving this movement—the emotional connection. For many Nigerians abroad, owning property in Nigeria is not just a financial decision; it’s an emotional homecoming. It’s a way of saying, “I still belong here.”

The nostalgia of returning home for holidays and sleeping in your own house instead of a hotel is powerful. For some, it’s about providing comfort for aging parents.

For others, it’s about ensuring their children maintain a tangible connection to their roots.This emotional attachment explains why the diaspora is not just investing in houses but in homes—places that carry meaning and memory.

Developers who understand this emotional aspect are winning the trust of diaspora clients faster.

They go beyond selling land; they help people reconnect to where their story began.Looking ahead, the influence of the diaspora on Nigeria’s real estate market will only grow stronger.

Several trends are already shaping the future:Digital property transactions: More companies now allow buyers to complete the entire purchase process online, from viewing to payment and documentation.Joint ventures and co-ownership:

Dennis Isong is a TOP REALTOR IN LAGOS. He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE.

Nigerians abroad are teaming up with locals to co-own property developments, reducing risks and maximizing returns.

Sustainable housing: The diaspora’s exposure to eco-friendly living is pushing developers to adopt greener designs, solar systems, and water recycling technologies.

All these trends point toward a more advanced, transparent, and investor-friendly real estate landscape.

Conclusion: The Diaspora as Builders of Tomorrow

When you step back and look at the big picture, it becomes clear that how the diaspora is shaping real estate growth in Nigeria goes beyond money or luxury homes.

It’s a story of reconnection, transformation, and progress. Every property bought from abroad represents faith in the future of Nigeria.

It is a declaration that home is still home, no matter how far away one lives.The diaspora community is helping redefine the meaning of development.

They are setting higher standards for builders, introducing modern tastes, fueling urban expansion, and reviving the sense of trust that was once missing in the sector. They are not just buying houses—they are building the next generation of Nigerian cities.

Just like Tunde, who now owns multiple properties in Lagos, many other Nigerians in the diaspora are realizing that investing in real estate back home is not just about owning property—it’s about contributing to the country’s growth story.

And as this movement continues, one thing is certain: the Nigerian real estate industry will never be the same again.

Dennis Isong is a TOP REALTOR IN LAGOS. He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE.

For Questions WhatsApp/Call +2348164741041

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Standard Chartered Bank Closing Some Nigerian Branches

The bank said the decision was taken after careful consideration and in line with ongoing efforts to optimise its services and customer value propositions.

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Standard Chartered Bank Nigeria Limited, a wholly owned subsidiary of Standard Chartered Bank Plc, headquartered in the United Kingdom, announced it will reduce its branch network in Nigeria, effective January 15th, 2026.

The bank said the decision was taken after careful consideration and in line with ongoing efforts to optimise its services and customer value propositions.

The closures also build on the bank’s digitization efforts, which commenced a few years ago.

Following the Bank’s successful fulfilment of the Central Bank of Nigeria (CBN) ‘s minimum capital requirement of N200 billion for national commercial banks, the statement said the bank is confident of meeting all its customers’ needs.

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