Our customer support team is here to answer your questions. Ask us anything!
Chat with us on WhatsApp
15 Sep 2025
Microfinance Banks in Nigeria (licensed by the Central Bank of Nigeria, CBN) are specialized financial institutions focusing on providing financial services ? savings, small/short-term loans, payment services etc. ? especially to the under-banked, low-income individuals and micro/small enterprises. The sector has grown rapidly: as of December 2024 there were 729 licensed MFBs (of various tiers) and total industry assets rose substantially. This list ranks them not just by size, but by innovation, reach (branches / agent / POS network), customer satisfaction & inclusion, digital adoption, and regulatory/ratings performance. Sources include Nairametrics, NaijaCompare, BrandNewsDay, Agusto & Co., official bank websites, and sector-reports.
A digital-first MFB that became very popular among young Nigerians. Known for its user-friendly app (“bank of the free”), lower fees and simplified access. It’s leading in innovation, speed, and digital banking.
More infoOne of the oldest, with strong presence in low-income households, often winning “Microfinance Bank of the Year” awards, with wide branch / field network.
More infoKnown for serving SMEs, robust POS / agent network, strong growth, regulatory compliance, and excellent digital payments infrastructure.
More infoAlso strong, especially in underserved communities; combines micro-loans, savings, and digital platforms, with backing by international partners and good regulatory ratings.
More infoFocuses on small businesses & individuals with reliable service, mobile & digital banking, and has good presence in multiple states.
More infoKnown for flexible repayment, fast loan approvals, and putting clients first; developing its digital and branch network well.
More infoOffers SME loans, savings, education loans; has innovation in product offering and partnerships; growing digital footprint.
More infoA prominent lender in consumer credit and small business credit, often noted for ease of loans, though sometimes higher cost; growing presence.
More infoStrong in digital micro-lending and savings; known for app-based access, often cited among top digital MFBs.
More infoHas positioned itself well with a digitised banking model, good app, services for savings, loans & payments; appealing to tech-savvy users.
More infoWith these components in place, your business...
Open the Listing model file located in the ap...
Discover promising partnership opportunities in various industries.
Pitch Your Startup | Find Partners
