Business
Over 700 AXA Mansard Volunteers Join Fight Against Child Abuse
BY NKECHI NAECHE-ESEZOBOR—More than 700 employees of AXA Mansard have participated in a nationwide awareness campaign aimed at combating child abuse and gender-based violence, reinforcing the company’s commitment to protecting vulnerable members of society.
The initiative, held across Lagos, Abuja and Port Harcourt, formed part of the 2026 AXA Week for Good, the company’s global employee volunteering programme under AXA Hearts in Action, which encourages staff to support social causes through community service.
This year’s campaign, themed “Being a Child Shouldn’t Be a Risk,” focused on raising awareness about the prevention, identification and reporting of domestic and sexual violence affecting children and women.
As part of the outreach, employee volunteers carried out door-to-door sensitisation, community engagement and educational activities designed to help residents recognise signs of abuse, encourage reporting and promote collective responsibility for protecting vulnerable groups.
Chief Executive Officer of AXA Mansard Health, Tope Adeniyi, said the campaign reflects the company’s belief that businesses have a responsibility to contribute to safer and more inclusive communities beyond providing insurance services.
According to him, the large turnout of employees demonstrates AXA Mansard’s culture of compassion and commitment to making a meaningful social impact, particularly in addressing issues that affect children and families.
Chief Marketing Officer of AXA Mansard, Adebola Surakat, said the initiative aligns with the company’s broader mission of promoting safety, dignity and wellbeing, adding that sustained advocacy is essential to tackling abuse and violence in society.
The week-long programme concluded with a commemorative walk across participating cities, while the company reaffirmed its commitment to supporting initiatives that address critical social challenges and create lasting value for communities across Nigeria.
The post Over 700 AXA Mansard Volunteers Join Fight Against Child Abuse appeared first on Business Today NG.
BY NKECHI NAECHE-ESEZOBOR—The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks with effect from July 1, 2026, as part of efforts to strengthen the stability of the country’s financial system and enforce regulatory compliance.
The apex bank said the action was taken in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
According to the CBN, the revocation was approved by its Governor, Mr. Olayemi Cardoso, following the affected banks’ failure to meet the regulatory requirements necessary for continued operation as licensed financial institutions.
The Bank explained that the decision was necessitated by one or more regulatory infractions, including insufficient assets to meet liabilities, closure of operations without prior approval from the CBN, prolonged inactivity and cessation of financial intermediation, failure to commence operations within 12 months of receiving a licence, and failure to maintain the minimum capital requirement unimpaired by losses.
The CBN stated that the revocation forms part of its ongoing supervisory and regulatory measures aimed at safeguarding the stability of the financial sector, protecting depositors, and ensuring that all licensed financial institutions operate in compliance with existing laws and regulatory standards.
The apex bank reaffirmed its commitment to promoting a safe, sound, and resilient financial system, adding that it will continue to take appropriate regulatory and supervisory actions whenever necessary to maintain public confidence in Nigeria’s financial system.
The post CBN Revokes Licences of 46 Microfinance Banks appeared first on Business Today NG.
The Central Bank of Nigeria (CBN) has released the names of the 46 microfinance banks whose operating licences were revoked for failing to meet the regulatory requirements for continued operation.
The apex bank disclosed on Wednesday that the revocation was carried out in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
According to the CBN, the licences were revoked because the affected microfinance banks had insufficient assets to meet their liabilities, closed operations without regulatory approval, or became inactive and ceased financial intermediation.
The revocations were also attributed to the banks’ failure to commence operations within 12 months of obtaining their licences and failure to maintain the minimum capital funds unimpaired by losses.
READ ALSO: CBN revokes licences of 46 microfinance banks
Revocation list
On the list of 46 microfinance banks whose licences were revoked, Kano State accounted for the highest number, with 13 banks, followed by Lagos with 8.
Also, Abia, the Federal Capital Territory (Abuja), Kaduna, Kebbi, Niger, Ogun, Plateau, recorded two banks each, while Anambra, Akwa Ibom, Bayelsa, Benue, Cross River, Delta, Kwara, Ondo, Osun, Oyo, and Rivers had one bank each.
By category, 25 of the affected institutions were Tier 2 microfinance banks, 18 were Tier 1 microfinance banks, and three were State microfinance banks.
The regulator said the license revocation forms part of its ongoing efforts to strengthen oversight of the financial system and ensure that licensed financial institutions comply with extant laws and prudential regulations.
Here are the microfinance banks whose licenses were revoked:
| S/N | Microfinance Bank | Category | State |
| 1 | Minji-Se Churchill MFB | Tier 1 | Rivers |
| 2 | Merchant MFB | Tier 2 | Abia |
| 3 | Janmaa MFB | Tier 1 | Kwara |
| 4 | Busu MFB | Tier 2 | Niger |
| 5 | Gold MFB | Tier 1 | Lagos |
| 6 | Zain MFB (formerly Dawakin Tofa MFB) | Tier 2 | Kano |
| 7 | Bompai MFB | Tier 1 | Kano |
| 8 | Ajwa MFB (formerly Gezawa MFB) | Tier 2 | Kano |
| 9 | NOW NOW DIGITAL MFB | Tier 2 | Kano |
| 10 | Crystabel Microfinance Bank | Tier 1 | Bayelsa |
| 11 | Chanelle MFB | State | Lagos |
| 12 | Abia SME MFB | Tier 1 | Abia |
| 13 | Kamba MFB | Tier 2 | Kebbi |
| 14 | Iwade MFB | Tier 2 | Ogun |
| 15 | Winview MFB | Tier 1 | Abuja (FCT) |
| 16 | Zuru MFB | Tier 2 | Kebbi |
| 17 | Minjibir MFB | Tier 1 | Kano |
| 18 | Shanono MFB | Tier 2 | Kano |
| 19 | Sumaila MFB | Tier 2 | Kano |
| 20 | Rimin Gado MFB | Tier 2 | Kano |
| 21 | Mwaghavul MFB | State | Plateau |
| 22 | Sycamore MFB | Tier 2 | Kano |
| 23 | TOFA MFB | Tier 2 | Kano |
| 24 | Safegate MFB | Tier 1 | Lagos |
| 25 | Creekline MFB | Tier 2 | Delta |
| 26 | Bestar MFB | Tier 1 | Oyo |
| 27 | Livingspring MFB | Tier 1 | Cross River |
| 28 | Apple MFB | Tier 2 | Ogun |
| 29 | Stanford MFB | State | Uyo* |
| 30 | Frontline MFB | Tier 2 | Anambra |
| 31 | Zafec MFB | Tier 2 | Kaduna |
| 32 | Supreme MFB | Tier 1 | Lagos |
| 33 | Bejin-Doko MFB | Tier 2 | Niger |
| 34 | Kanopoly MFB | Tier 1 | Kano |
| 35 | Bellbank MFB (formerly Tsanyawa MFB) | Tier 2 | Kano |
| 36 | Yeneng MFB | Tier 2 | Plateau |
| 37 | Creditville MFB | Tier 1 | Lagos |
| 38 | MBAG MFB | Tier 1 | Lagos |
| 39 | STRAIGHT SAHARA MFB | Tier 1 | Benue |
| 40 | OURPASS MFB | Tier 2 | Ondo |
| 41 | VERDANT MFB | Tier 1 | Lagos |
| 42 | BASAWA MFB | Tier 2 | Kaduna |
| 43 | CASHA MFB | Tier 2 | Abuja (FCT) |
| 44 | ESTEEM MFB | Tier 2 | Kano |
| 45 | ENTERPRENEUR MFB | Lagos | |
| 46 | AVANTUS MFB | Tier 2 | Osun |
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