A Micro-finance bank is a type of bank that offers small loans, or microloans, to individuals, entrepreneurs and small businesses. These banks typically function to provide opportunities to low-income regions where small amounts of money can go a long way. Simply put Micro-finance banks ultimately provide credit to those who are unable to access the type of capital needed to develop businesses or kick-start their entrepreneurial dreams.
According to the Apex Bank, Central Bank of Nigeria (CBN), there are 1023 Micro-finance banks in Nigeria and 5 are foreign owned.
Top 5 states are: Lagos, Anambra, Abuja, Ogun and Oyo while the bottom 5 are: Sokoto, Taraba, Bayelsa, Imo and Yobe.
Click here to download the complete list with their names, addresses, phone numbers, email address etc…
See below breakdown by states:
States | No. of MFBs |
Lagos | 195 |
Anambra | 81 |
Abuja | 70 |
Ogun | 60 |
Oyo | 60 |
Delta | 40 |
Kaduna | 40 |
Kano | 40 |
Niger | 40 |
Osun | 30 |
Kwara | 27 |
Enugu | 24 |
Kogi | 24 |
EDO | 22 |
ABI | 20 |
Ondo | 19 |
Rivers | 19 |
Bauchi | 17 |
Plateau | 17 |
Ekiti | 14 |
Akwa Ibom | 13 |
Cross River | 13 |
Jigawa | 12 |
Adamawa | 11 |
Benin | 11 |
Kebbi | 10 |
Nasarawa | 10 |
Enbonyi | 9 |
Katsina | 7 |
Zamfara | 5 |
Borno | 4 |
Gombe | 4 |
Sokoto | 4 |
Taraba | 4 |
Bayelsa | 3 |
Imo | 3 |
Yobe | 1 |
Total | 1023 |