Finance

List of Microfinance Banks in Lagos

Microfinance Banks in Lagos
Microfinance Banks in Lagos

Microfinance Banks concern is an aspect of financial services that are targeted towards persons and small businesses who don’t access to normal banking and associated services.

The Central Bank of Nigeria (CBN), in a bid to expand financial inclusion and to regularize existing informal financial services such as savings clubs/pools, Esusu, Ajo, and money lenders, revised in April 2011, the 2005 Microfinance Policy, Regulatory and Supervisory Framework for Nigeria. The policy recognizes existing informal institutions and brings them within the supervisory purview of the CBN creating a platform for the regulation and supervision of microfinance banks (MFBs) through specially crafted Regulatory Guidelines.

Lagos, being the commercial hub of Nigeria and of course the most populous city, got the lion share of the number of MFBs.

According to the publicly available information from the CBN, there are 195 licensed MFBs operating in Lagos.

Find there list below:

Microfinance Banks in Lagos

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