NDIC Seeks to Dissolve 87 Closed Banks
By Patience Ikpeme
The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to dissolve 87 closed Microfinance Banks and Primary Mortgage Banks. The Corporation will file an application with the Federal High Court to obtain dissolution orders and discharge itself as the Liquidator of these institutions.
The NDIC’s decision is based on the fact that the affected banks are either not located or have embarked on self-liquidation.
The affected banks and their dates of license revocation are:
**Microfinance Banks**
* Galilee MFB, Abuja – 26 September 2018
* Pinnacle MFB, Abuja – 4 February 2014
* Royal Children Heritage MFB, Abuja – 26 September 2018
* Savings Corp MFB, Abuja – 26 September 2018
* Spec MFB, Abuja – 26 September 2018
* Imad MFB, Abuja – 26 September 2018
* Ihima MFB, Kogi – 4 February 2014
* Liberty MFB, Kogi – 26 September 2018
* Ovidi MFB, Kogi – 24 November 2020
* New Mercantile MFB, Abuja – 4 February 2014
* Altitude MFB, Lagos – 26 September 2018
* Bonded MFB, Lagos – 26 September 2018
* Hybrid MFB, Lagos – 26 September 2018
* Mar-Bonch MFB, Lagos – 26 September 2018
* Coral MFB, Lagos – 26 September 2018
* Lasu MFB, Lagos – 26 September 2018
* Shoreline MFB, Lagos – 26 September 2018
* Sovereign MFB, Lagos – 26 September 2018
* Wealthbasket MFB, Lagos – 26 September 2018
* EDS MFB, Lagos – 4 February 2014
* Compass MFB, Lagos – 4 February 2014
* Enterprise MFB, Lagos – 4 February 2014
* Freegate MFB, Lagos – 4 February 2014
* Funds Matrix MFB, Lagos – 4 February 2014
* Green Field MFB, Lagos – 4 February 2014
* Interglobal MFB, Lagos – 4 February 2014
* Kings MFB, Lagos – 4 February 2014
* Keystone MFB, Lagos – 4 February 2014
* Vinning MFB, Lagos – 4 February 2014
* Marvelous MFB, Lagos – 26 September 2018
* Santrust MFB, Lagos – 26 September 2018
* TSM MFB, Lagos – 26 September 2018
* Biztrust MFB, Lagos – 26 September 2018
* Gideon Trust MFB, Lagos – 26 September 2018
* Ethics MFB, Lagos – 26 September 2018
* First Credit MFB, Lagos – 26 September 2018
* Gapbridge MFB, Lagos – 26 September 2018
* New Gate MFB, Lagos – 24 September 2010
* Primate MFB, Lagos – 24 September 2010
* Mustason MFB, Lagos – 24 September 2010
* Mustard MFB, Lagos – 26 September 2018
* Southwest MFB, Lagos – 24 September 2010
* Trust One MFB, Lagos – 23 May 2023
* Traders MFB, Lagos – 4 February 2014
* Citiserve MFB, Lagos – 4 February 2014
* SVP MFB, Rivers – 4 February 2014
* CKC MFB, Rivers – 4 February 2014
* Acorn MFB, Rivers – 4 February 2014
* Aracom MFB, Ondo – 4 February 2014
* Homeland MFB, Bayelsa – 24 September 2010
* First Golden Mercury MFB, Osun – 4 February 2014
* Cubic MFB, Edo – 24 September 2010
* Solace MFB, Delta – 4 February 2010
* Top Mega Trust MFB, Delta – 4 February 2014
* Advance MFB, Akwa Ibom – 26 September 2018
* Umu-Uma MFB, Anambra – 4 February 2014
**Primary Mortgage Banks**
* First Amalgamated B/S, Kwara – 5 January 2015
* Horizon Building Society, Abuja – 6 August 2012
* Imani Savings & Loans, Abuja – 6 August 2012
* New Capital Savings & Loans, Abuja – 6 August 2012
* Owners Home S & L, Abuja – 6 August 2012
* Perennial Building Society, Abuja – 6 August 2012
* Primrose Savings & Loans, Abuja – 6 August 2012
* Global Building Society (Confluence S&L), Abuja – 5 January 2015
* Melrose Savings & Loans, Abuja – 6 August 2012
* Acclaim Homes and Loans, Lagos – 6 August 2012
* CB Homes Savings and Loans, Lagos – 6 August 2012
* Coastal Homes Savings and Loans, Lagos – 6 August 2012
* Crest Mortgage Savings and Loans, Lagos – 6 August 2012
* Estaport Building Society, Lagos – 6 August 2012
* Guardian Trust S & L, Lagos – 6 August 2012
* Home Trust Savings and Loans, Lagos – 6 August 2012
* Mars Home Investment Savings and Loans, Lagos – 6 August 2012
* Omono Building Society, Lagos – 6 August 2012
* Secure Savings and Loans, Lagos – 6 August 2012
* Urban Shelter Savings and Loans, Lagos – 6 August 2012
* Consolidated Estate Building Society, Lagos – 5 January 2015
* Home Foundation Savings and Loans, Lagos – 5 January 2015
* Password Savings and Loans, Lagos – 5 January 2015
* Supreme Savings and Loans, Lagos – 1 October 2018
* Midland Mortgages, Rivers – 5 January 2015 (Self-liquidation)
* Garden City MFB, Rivers – 26 September 2018 (Self-liquidation)
* Combined Benefit MFB, Bayelsa – 4 February 2014 (Self-liquidation)
* Corporate MFB, Oyo – 4 February 2014 (Self-liquidation)
* Lofty Heights MFB, Edo – 4 February 2014 (Self-liquidation)
* Express MFB, Abia – 4 February 2014 (Self-liquidation)
* Multi-Banc Savings and Loans, Lagos – 5 January 2015 (Self-liquidation)
