Are you in search of the top Microfinance Banks in Nigeria? If you’re also looking to secure a loan from a microfinance bank, then you are in the right place. In this post, I will basically tell you all you need to know about microfinance Banks in Nigeria, as well as sharing a list for the top 10 microfinance Banks in Nigeria.

In my previous post, I shared the list of merchant banks in Nigeria and also for those in Lagos, a list of the best mortgage banks in Lagos State. One thing to note about all these Banks is that they deal mostly on loans. Microfinance Banks is another sector in the banking industry. Before sharing the list for the top 10 microfinance Banks in Nigeria, let’s first understand what microfinance Bank it’s all about.

Microfinance Banks in Nigeria 

Microfinance Banks are defined using the term microfinance. Microfinance, also known as microcredit​, can be considered as a type of banking service provided to unemployed or low-income individuals or groups who otherwise would have no other access to financial services. The main aim of microfinance is to ultimately give impoverished people an opportunity to become self-sufficient.

In simple terms, Microfinance banks ultimately provide credit to those who for some reason are unable to access the type of capital needed to develop businesses or kick-start their entrepreneurial dreams. According to the Central Bank of Nigeria (CBN), there are 898 Microfinance banks in Nigeria.

Top 10 Microfinance Banks in Nigeria

1. AB Microfinance Bank

This is one of the best and oldest microfinance banks in Nigeria with branches all over the country. Created in 2008 by foreigners, this financial institution headquarters is located at 11, Oba Akran Avenue, Ikeja Lagos with other branches available.

2. Altitude Microfinance Bank

Altitude is a microfinance bank aimed at helping and supporting the less privileged people in the country by giving them loans that must be paid back.

The bank was founded in 2004 with its headquarters located at JP Plaza, Central Zone C ASPAMDA Trade fair complex, Badagry Expressway, Lagos.Top 10 microfinance Banks in Nigeria

3. Fina Trust Microfinance Bank

Fina Trust was created in 2004. The bank possesses all it takes to be regarded as one of the leading microfinance banks in Nigeria. It has a very conducive banking environment, dedicated staff, good and appropriate management of approach towards clients.

Related Topics:

HIGHLY RECOMMENDED  Here are the Top 5 Richest Banks in Nigeria you must Know

4. Accion MF Bank Limited

One of the best banks in the country when it comes to giving out loans in little amounts. Accion bank was created in 2006 and its headquarters address is located on the 4th floor, Elizade Plaza, 322, Ikorodu Road, Anthony, Lagos State.

5. MFP Microfinance Bank

MFP microfinance bank is located in Sokoto state. It was created in 2005. This microfinance bank is one of the banks in Nigeria that render the best service to its customers, with a relatively low-interest rate, good workers/customers relationship.

6. Addoser Microfinance Bank

Addoser is another financial institution that merits a place on our list. It was established in 2008 and is located in Lagos.

Addoser adds a lesser amount of interest compared to other microfinance banks. Talking about the experience, Addoser has such which has kept it going from strength to strength.

7. Rehoboth Microfinance Bank

It was created by a group of business-minded people in Lagos. Rehoboth has over the years proven to be a bank that can be trusted and relied on.

It is one of the microfinance banks in Nigeria that ensures constant visitation to clients so as to check the progress of the client’s business or work. Their head office address is at 13, Aweh crescent, Onipanu, Lagos.

8. Fortis Microfinance Bank

This is the first microfinance bank in Abuja (the capital state of the country). Fortis was created in 2007 and is one of the best rated in the country.

9. Lapo Microfinance Bank

They are known for their top services, Lapo is one of the best and popular state microfinance banks in Nigeria. It was launched in 2010 and was licensed in 2012.

10. FBN Microfinance Bank

They are located in Lagos, FBN is a bank that deals with customers whose business is on the verge of collapsing. As a subsidiary of First Bank Nigeria, FBN renders help by giving the loan to people.


From the ongoing discussion, it can be deduced that microfinance Banks is considered one of the best options for those looking to start a business. Although there are private firms offering such funding to passionate individuals for free with no interest added. The post above shows a list of the top 10 microfinance Banks in Nigeria, for those that are still in search of solutions.

Recommended Contents:

HIGHLY RECOMMENDED  Best 15 internet service providers Companies in Nigeria


** is now on Telegram. join our Telegram channel (@CCNWORLDTECH and stay updated with the latest headlines--CLICK HERE

*Copyright Warning! works assiduously by integrating lots of effort and resources in our content delivery system, providing our readers with plagiarism-free articles, original and high-quality write-ups. We strongly advise that Contents on this website may not be copied, republished, reproduced, redistributed either in whole or in part without due permission or acknowledgement. Don't know the consequences of copyright infringement? Check Here . In an effort to protect our intellectual properties, we will instantly report your website to Google without prior notice and your website be removed from search engines and you may receive a strike. All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
Spread the love!


Please enter your comment!
Please enter your name here