The Central Bank of Nigeria (CBN) regulates and licenses Microfinance Banks (MFBs) in the country.

As of the most recent update, there are several hundred CBN approved MFBs.

Here are some well-known ones categorized by their license type (national, state, or unit).

National Microfinance Banks

These banks are licensed to operate throughout Nigeria and typically have larger capital bases.

1. NIRSAL Microfinance Bank
2. Mutual Trust Microfinance Bank
3. Fina Trust Microfinance Bank
4. MIC Microfinance Bank
5. Accion Microfinance Bank

State Microfinance Banks

These banks are allowed to operate within specific states.

1. Addosser Microfinance Bank
2. AB Microfinance Bank
3. Lapo Microfinance Bank
4. Parralex Microfinance Bank
5. Infinity Microfinance Bank
6. Boctrust Microfinance Bank
7. Mainstreet Microfinance Bank

Unit Microfinance Banks

These are typically smaller banks allowed to operate within a specific local government or region.

1. Hasal Microfinance Bank
2. ABU Microfinance Bank (Ahmadu Bello University)
3. Uniben Microfinance Bank (University of Benin)
4. Adeyemi Microfinance Bank (Adeyemi College of Education)
5. FUTO Microfinance Bank (Federal University of Technology Owerri)

Rural and Community-based Microfinance Banks

1. Iba Microfinance Bank
2. Ohafia Microfinance Bank
3. Ikoyi-Ile Microfinance Bank
4. Baobab Microfinance Bank
5. Ekondo Microfinance Bank

These MFBs provide various financial services such as loans, savings, insurance, and other micro-banking services tailored to low-income individuals, small businesses, and those who may not have access to conventional banking.

To check for an up-to-date list or confirm whether a microfinance bank is approved by the CBN, you can visit the CBN official website under the Financial Institutions section.