The Central Bank of Nigeria (CBN) has closed 42 microfinance banks, according to the latest report from the Nigeria Deposit Insurance Corporation (NDIC).
In the report titled “Notice of closure of 42 microfinance banks” and published on the NDIC website on Friday, depositors, creditors, shareholders and the general public were advised to visit or contact the representatives of Director, Claims Resolution Department, NDIC at any of the locations below.
It stated, “This is to inform the depositors, creditors, shareholders and the general public that the operating licences of the under listed 42 microfinance banks have been revoked by the Central Bank of Nigeria effective 12th November, 2020.
“The Nigeria Deposit Insurance Corporation, the official liquidator of the banks whose licences were recently revoked, is in the process of closing the listed banks and pay their insured depositors.
“We therefore request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December, 2020 till Thursday, 24th December, 2020.”
Below are the names and addresses of the affected microfinance banks.
|1||HEDGEWORTH MFB||GUOBA PLAZA SUITE B06, – 171, A.E. EKUKINAM STREET, BY CHISCO, UTAKO, ABUJA|
|2||FUTURE GROWTH MFB||REAL TOWER PLAZA, PLOT 1121 OBAFEMI AWOLOWO WAY, UTAKO, ABUJA|
|3||BAGWAI MFB||BAGWAI-SHANONO ROAD, BAGWAI LGA, KANO|
|4||ERE CITY MFB||ERE-IJESHA/IIIAHUN ROAD, ERE-IJESHA, ORIADE LGA, OSUN|
|5||CAFON MFB||GARKI POLICE BARRACKS, GARKII, FCT, ABUJA|
|6||AKCOFED MFB||EKIT ITAM II (BESIDE WATER BOARD), P. O. BOX 2048, UYO, AKWA-IBOM STATE|
|7||GUFAX MFB||N0. 3 UDOTUNG UBO STREET UYO, AKWA IBOM STATE|
|8||PARTNERSHIP MFB||107 UPPER IWEKA ROAD, ONITSHA, ANAMBRA STATE|
|9||ICB MFB||IIIAH-ASABA ROAD, OSHIMILI NORTH LGA, IIIAH, DELTA STATE|
|10||ONIMA MFB||NIPOST BUILDING, EKEOCHA ONICHA, EZINIHITTE MBAISE LGA, IMO STATE|
|11||HOMETRUST (NATIONS) MFB||76, ORLU ROAD, NKWERE, IMO STATE|
|12||RINGIM MFB||OPP. RINGIM CENTRAL MARKET, RINGIM, JIGAWA STATE|
|13||BIGTHANA MFB||6, ALI AKILU ROAD, KADUNA|
|14||ROGO MFB||ROGO TOWN, ROGO LGA, KANO STATE|
|15||MAKODA MFB||NO 15, KOGUNA TOWN, MAKODA LGA, KANO|
|16||TAKAI MFB||TAKAI TOWN, TAKAI LGA, KANO STATE|
|17||BEBEJI MFB||NO. 10 GIDAN IYAN, BEBEJI TOWN, BEBEJI L.G.A., KANO STATE|
|18||AJINGI MFB||NO. 10 HAKIMI STREET, AJINGI TOWN, AJINGI LGA, KANO STATE|
|19||GARKO MFB||3, GARKO TOWN, KANO|
|20||KANGIWA MFB||KANGIWA TOWN, KANGIWA LGA, KEBBI STATE|
|21||AUGIE MFB||AUGIE TOWN, AUGIE LGA, KEBBI STATE|
|22||MOPA MFB||SILAS BAMIDELE DANIYAN HOUSE, KABBA-ILORIN ROAD, MOPA, KOGI-STATE|
|23||SOLID BASE MFB||EKIRIN ADDE, IJUMU LGA, KOGI STATE|
|24||ULTIMATE BENEFIT MFB||150C, OKENE KABBA ROAD, LOKOJA, KOGI|
|25||OVIDI MFB||NO. 1, ATTA ROAD, OKENE, KOGI STATE|
|26||KIRFI MFB||KIRFI TOWN, KIRFI LGA, BAUCHI|
|27||CREDIT EXPRESS MFB||27, KAKAWA STREET, LAGOS|
|28||KING SOLOMON MFB||GOD BLESS NIGERIA HOUSE, 117/119, WETSERN AVENUE, IPONRI, LAGOS|
|29||RIGGS MFB||PLOT 5, IMAN ABIB ADETORO STREET, OFF AJOSE ADEOGUN STREET, V.I., LAGOS|
|30||BILLIONAIRE BLUE BRICKS MFB||APERIN HOUSE (2ND FLOOR) BLOCK I, PLOT 27, BUDO LAYOUT AJIWE, LEKKI EPE EXPRESSWAY, AJAH, LAGOS STATE|
|31||SUSU MFB||34, COMMERCIAL AVENUE SABO, YABA, LAGOS|
|32||WEALTHSTREAM MFB||AQUARIUS BLOCK, ELEGANZA PLAZA, GROUND FLOOR, LEFT WING 1 COMMERCIAL ROAD, APAPA, LAGOS|
|33||AGUDA TITUN MFB||21, SHONOLA STREET, AGUDA TITUN, OGBA, LAGOS|
|34||SAPPHIRE MFB||111, ABAK ROAD, UYO, AKWA IBOM STATE|
|35||METRO MFB||15, OTUNUBI STREET, OFF HARUNA, OGBA, IKEJA, LAGOS|
|36||MOUNTAIN TOP MFB||PROGRESS BLOCK, SHOP A102, AFRICAN TYRE VILLAGE, OPP. APT TRADE FAIR COMPLEX, LAGOS/BADAGRY EXPRESS WAY, LAGOS|
|37||UNYOGBA MFB||1, ALOMA ROAD, OPP. MKT. SQ., EJULE, OFU LGA, KOGI STATE|
|38||WAPO MFB||OKENE-LOKOJA ROAD, NAGAZI, ADAVI LGA, OKENE, KOGI STATE|
|39||IBOGUN MFB||IBOGUN EGBEDA, IFO LGA, OGUN STATE|
|40||KOREDE MFB||NO. 3, LUWOYE STREET, IGBOTAKO, ONDO STATE|
|41||AHETOU MFB||26, EREMA ROAD, BYEPASS, AKABUKA, OGBA/EGBEMA/NDONI LGA, RIVERS STATE|
|42||FUFORE MFB||NO. 25 GURIN ROAD, FUFORE LGA, ADAMAWA, YOLA STATE|
For further clarification or any assistance, eligible depositors should contact the representatives of Director, Claims Resolution Department in any of the under listed centres/Zonal Offices:
|1||Lagos Office||NDIC, NECOM House (10th Floor), 15 Marina, Lagos||08166569995 09072412332|
|2||Enugu Zonal Office||No. 10, Our Lord’s Street, Independence Layout, Enugu||08033006999|
|3||Benin||28A/28B, Benoni Hospital Road, Off Airport Road, GRA, Benin City, Edo State||08150999577 08150999588 08150999599 08150999600 08150999535|
|4||Kano||Plot 458, Muhammad Muhammad Street, Off Maiduguri Road, Hotoro, GRA, Kano||09092748222 08063932722|
|5||Ilorin||No.12A, Sulu Gambari Road, Ilorin||08023123185|
|6||Bauchi||Plot No. 3, Bank Road, P.M.B. 0207, Bauchi||094601505|
|7||Sokoto||No. 2, Gusau Road, Opp. NNPC Mega Station, Sokoto||08033155162|
|8||Yola||No. 6, Numan Road, P.M.B. 2227, Jimeta, Yola, Adamawa State||08067910599 08068418069 08067923383 09-4601515 09-4601516|
|9||Port Harcourt||No. 104, Woji Road, Off Olu Obasanjo Road, GRA, Port Harcourt, Rivers State||09090726737 09029150752|
|10||Head Office Abuja||Head, Bank Examination Unit (BEU), NDIC, Abuja, 447/448, Constitution Avenue, Central Business District, Garki, Abuja||09-4601260 09-4601261|
Ecobank Nigeria Received N50 billion 10-Year Bilateral Subordinated Loan
Ecobank Nigeria announced it has received N50 billion 10-year subordinated Loan.
Adenike Laoye, Group Head, Corporate Communications, Ecobank Nigeria, disclosed this in a statement released through the Nigerian Stock Exchange.
The statement read in part, “The bilateral funding provides stable medium-term liquidity to the balance sheet of Ecobank Nigeria and positively improved its balance sheet ratios, especially the capital adequacy ratio by circa 300 basis points.
“The transaction proceeds would be deployed to support Micro, Small and Medium Scale Enterprises (“MSMEs”) and Small Corporates.”
Niger Insurance to Sell Property Worth N15bn in Recapitalisation Move
Niger Insurance Plc said it is working on a plan to sell off N15 billion worth of real estate and investment property to boost its cash flow and meet the liquidity requirements of the insurance industry.
Mr. Edwin Egbiti, the Managing Director of the company disclosed this during the company’s 2019 annual general meetings held virtually in Lagos recently.
He said, “Subsequent to the requisite approvals of the board on behalf of shareholders, a number of the company’s real estate and investment property valued at N15bn have been put on sale in order to improve liquidity/cash flows, ensure reserve adequacy and improve solvency margins.
“We are encouraged by the progress made so far, and confident that both capital restructuring and recapitalisation efforts will be successful in line with National Insurance Commission’s regulatory timelines.”
It added that Niger Insurance recognised that its people were the company’s most critical assets without whom its goals and plans would remain elusive.
AMCON Takes Over Inducon Nigeria’s Assets Over N1.3 Billion Debt
The Asset Management Corporation of Nigeria has taken over the assets of Dr. John Abebe, the Chief Promoter of Inducon Nigeria Limited over N1.3 billion debt.
According to a statement signed by the Head, Corporate Communications Department, AMCON, Jude Nwauzor, and titled ‘N1.3bn debt: AMCON takes over assets of Inducon Nigeria Limited’ the decision followed the order of Honourable Justice Aikawa of the Federal High Court, Lagos.
“In compliance with the enforcement order, AMCON at the weekend took effective possession of the property situate at Plot12, Block 108, Lekki Peninsula Residential Scheme, Lagos, through its debt recovery agent – Ogunsola Shonibare L.P.
“The court also ordered that the bank accounts of the company and its directors, Dr. John Abebe, Mr Olawole Fatimilehin and Ademola Buraimoh, be frozen pending the final determination of the suit.”
The asset management corporation said the case of Dr. John Abebe and Inducon Nigeria Limited started shortly after the loan was procured by AMCON in 2011 during the first phase of Eligible Bank Asset purchases from the defunct FinBank, Now FCMB.
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