Nigeria - Renewal of Microfinance Bank License

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Procedure

Apply In-Person:

1. To apply for renewal of a Microfinance Bank license in person, the applicant has to make an application to the Director of the Financial Policy and Regulation Department (FPRD) in the Central Bank of Nigeria.
2. The contact link of the Central Bank of Nigeria can be found below contact link
3. Visit the office of CBN with an application letter for the renewal of a Microfinance Bank licence.
4. The application should be addressed to the Director of Financial Policy and Regulation Department, Central Bank of Nigeria.
5. Also, make sure that you have attached all the documents listed in the “Required Documents” section of this page.
6. Then, submit it in person to the relevant authority at the office. Make the stipulated payment as directed by the officials.
7. After submission, the application and other documents will be forwarded for examination and verification processes.
8. Once the verification and validation processes are over, the application will be approved and the officials will proceed to take required steps for renewal of the license.
9. When the document is ready to be collected, the applicant will be notified by the office and the applicant can collect it by any applicable means.

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Required Documents

• Formal application letter
• Proof of license utilization
• Proof of Payment of up-to-date Annual Service and Processing Fees
• Previously issued license
• Current tax clearance certificate
• Proof of processing fees payment

Office Locations & Contacts

Central Bank of Nigeria - Head Office,
Plot 33, Abubakar Tafawa Balewa Way
Central Business District,
Cadastral Zone,
Abuja, Federal Capital Territory, Nigeria
P.M.B. 0187, Garki Abuja.
Nigeria
Phone: +234 700 225 5226
Toll free line: +234 800 225 5226
Email: [email protected]
Website: Link

Eligibility

• Any Microfinance license holder in Nigeria, whose license is about to expire but he/she wants to extend the license period, can apply.

Fees

Please approach the office for fees details.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

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Sample Documents

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Processing Time

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Related Videos

Videos explaining the procedure or to fill the applications.
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from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicants are advised to complete the application form neatly and completely with absolute legibility and appropriateness to avoid rejections.
• Also, all the required documents must be furnished completely.

Required Information

• Applicant particulars
• Identification document number
• Particulars of the company
• Registration number
• Company Incorporation details
• Address and contact details
• Payment receipt number (if any)
• GSM telephone number
• Email address

Need for the Document

It is mandatory for an organization that holds a Microfinance Bank license obtained from the Central Bank of Nigeria, to renew the license every time its validity period expires.

Information which might help

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Other uses of the Document/Certificate

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e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

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