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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of more than 132 Microfinance banks, including four primary mortgage banks and three finance companies in Nigeria have been revoked by the Central Bank of Nigeria, this is according to the Official Gazette of Nigeria, obtained from CBN’s website on Tuesday.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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Wema Bank Announces Grand Event for International Women’s Day 2026 on March 4

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Wema Bank, Nigeria’s oldest indigenous financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced it will host its highly anticipated 2026 International Women’s Day (IWD) Grand Event on Tuesday, March 4, 2026.

The event, described by the bank as the industry’s biggest celebration of its kind, aligns with the global IWD 2026 theme “Give To Gain.” Wema Bank has adopted the sub-theme “When Women Gain, We Grow,” emphasizing the transformative impact of supporting and investing in women across personal, professional, and societal levels.

According to Managing Director/CEO Moruf Oseni, the initiative underscores the bank’s long-standing commitment to women’s empowerment and gender inclusion, in line with United Nations Sustainable Development Goal 5.

Through its women-focused proposition, SARA by Wema (launched in 2019), the institution has consistently championed programs like SARA Gives and the Big Sister Graduation Challenge to uplift women at every stage.

The March 4 event is expected to feature keynote addresses, fireside chats, panel discussions, networking sessions, and opportunities to convene top women leaders from diverse industries alongside everyday women navigating their paths to success.

It aims to foster actionable conversations on empowerment, leadership, and collective growth.

Registration is now open via the official portal at wemabank.com/iwd, with the bank encouraging early participation to secure spots.

This announcement builds on Wema Bank’s history of impactful IWD celebrations and reinforces its dedication to promoting gender equality and women’s advancement in Nigeria and beyond.

Further details on the venue, speakers, and full agenda are expected to be released in the coming weeks.

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Dangote expands daughters’ roles as succession plan accelerates

Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.

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• Aliko Dangote and his daughters

Aliko Dangote, Africa’s richest man, has assigned expanded leadership roles to his three daughters as part of preparations for the future of his industrial conglomerate, which he aims to grow into a $100 billion business within the next four years.

According to Business Day, an internal memo confirmed by a company spokesperson, Halima, Fatima and Mariya Dangote will take on broader responsibilities across key divisions of the Dangote Group, signalling a deliberate shift towards the next generation.

Fatima Dangote, the youngest, will assume a senior commercial role within the group’s energy division, which includes its Lagos-based oil refinery.

She will continue to oversee corporate communications and administration for the wider group.

Halima Dangote, who currently manages the family office in Dubai, will extend her oversight to its London operations while supporting the company’s international expansion efforts.

Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.

She will also take on responsibility for shaping strategy across the group’s food operations in all markets.

In the memo, the company said that the appointments were intended to “empower a new generation to take on expanded responsibilities in shaping our future.

”The changes mark a clear step in Dangote’s succession planning, transferring more operational authority to his daughters while he retains overall strategic control.

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Dangote Forecasts Major Naira Appreciation to ₦1,100 per Dollar in 2026

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Africa’s richest man and Chairman of the Dangote Group, Aliko Dangote, on Tuesday projected a significant strengthening of the Nigerian naira, forecasting it could rally to as low as ₦1,100 per US dollar within 2026, driven by government reforms, import restrictions, and increased local production.

Speaking at the official launch of the National Industrial Policy 2025 in Abuja, attended by Vice President Kashim Shettima and other dignitaries, Dangote expressed optimism about the currency’s trajectory amid ongoing economic measures.

“Today, the dollar is N1,340. Mr Vice-President, I can assure you that, with what I know, by blocking all this importation and so on, the naira this year will be as low as N1,100 if we are lucky,” Dangote stated, according to multiple reports from the event.

He attributed the potential appreciation to reduced foreign exchange demand from imports, as local manufacturing ramps up including contributions from his own Dangote Petroleum Refinery, which is scaling toward full capacity. Dangote praised recent policy directions for beginning to yield positive results, noting that manufacturers are increasingly optimistic.

The forecast comes as the naira has shown signs of stabilization in recent weeks, trading around ₦1,300–₦1,340 to the dollar in official and parallel markets, a marked improvement from higher levels earlier in the year.

Dangote suggested that sustained import controls and industrial growth could push the currency even further, potentially toward ₦1,000 per dollar under ideal conditions, though he cautioned that policy consistency would be key.

The remarks align with broader optimism in some quarters, including from billionaire Femi Otedola, who recently projected the naira could trade below ₦1,000/$ before year-end, largely crediting the Dangote Refinery’s role in cutting dollar outflows for fuel imports.

Dangote also highlighted challenges, emphasizing the need for reliable power supply and continued government incentives to support industrial expansion and sustain the projected currency rally.

Analysts view the prediction as bullish but contingent on factors like forex policy enforcement, oil revenues, and global commodity prices.

The naira’s performance has been volatile in recent years due to external pressures and domestic structural issues, but recent CBN interventions and refinery developments have fueled renewed confidence among investors.

The statement has sparked discussions on social media and economic forums, with many welcoming the positive outlook while others call for concrete actions to realize such gains for everyday Nigerians facing inflation and import costs.

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