Top 10 Microfinance Banks In Nigeria (2026)

This article is about the top 10 microfinance banks in Nigeria this 2026. Nigeria, Africa’s largest economy, has made significant strides in promoting financial inclusion in recent years.

One key driver of this progress is the growth of microfinance banks, which have emerged as a vital tool for expanding access to financial services for millions of Nigerians.

We will explore the importance of microfinance banks in Nigeria and highlight the top 10 microfinance banks leading the charge.

Microfinance banks in Nigeria provide essential financial services to individuals and small businesses, including savings accounts, loans, and payment services.

These institutions play a vital role in promoting financial inclusion, especially in rural and underserved communities where traditional banks have limited presence.

According to the Central Bank of Nigeria (CBN), microfinance banks have increased access to financial services for over 2 million Nigerians, with total assets exceeding ₦300 billion.

The growth of microfinance banks has also created jobs and stimulated economic activity, contributing to Nigeria’s economic development.

CRITERIA FOR SELECTING THE TOP MICROFINANCE BANKS IN NIGERIA

When it comes to selecting the top microfinance banks in Nigeria, several factors come into play. In this section, we will outline the criteria used to evaluate and rank the leading microfinance banks in the country today. They are as follows:

ASSET SIZE 

The total assets of a microfinance bank are a key indicator of its size and capacity to lend.

DEPOSIT BASE

A strong deposit base indicates a high level of customer trust and confidence in the bank.

LOAN PORTFOLIO

The size and quality of a microfinance bank’s loan portfolio are essential in assessing its ability to provide credit to its customers.

BRANCH NETWORK

An extensive branch network is essential in reaching a wider audience, particularly in rural and underserved areas.

CUSTOMER BASE 

The number of customers served by a microfinance bank is a key metric in evaluating its impact and reach.

FINANCIAL PERFORMANCE

The financial health and performance of a microfinance bank are important in ensuring its sustainability and ability to provide services.

REGULATORY COMPLIANCE 

Adherence to regulatory requirements and guidelines set by the Central Bank of Nigeria (CBN) is essential in ensuring the stability and soundness of microfinance banks.

PRODUCT OFFERINGS

The range and quality of financial products and services offered by a microfinance bank are important in meeting the diverse needs of its customers.

TECHNOLOGY ADOPTION 

The adoption of technology, such as mobile banking and digital payment systems, is important in enhancing efficiency and expanding reach.

SOCIAL IMPACT 

The social impact of a microfinance bank, including its contribution to financial inclusion and poverty reduction, is a vital consideration.

TOP 10 MICROFINANCE BANKS IN NIGERIA 2024

The following are the top 10 microfinance banks in Nigeria this 2026:

LAPO MICROFINANCE BANK

One of the most well-known financial institutions in Nigeria currently, LAPO Microfinance Bank is dedicated to the social and economic empowerment of low-income households by giving them access to reliable financial services over an extended period of time.

Due to the effects of the 1986 implementation of the Structural Adjustment Programme (SAP), Godwin Ehigiamusoe founded this microfinance bank in the late 1980s as a Non-Governmental Organisation (NGO).

The Central Bank of Nigeria (CBN) granted LAPO an operating licence in 2010 as a state microfinance bank, and the bank was authorised as a national microfinance bank in 2012.

LAPO Microfinance Bank has become one of the top financial institutions in the nation, contributing to the improvement of the living conditions of those who are poor.

The Bank has multiple branches spread throughout various locations in Nigeria, and its main office is located at LAPO Place, 15, Ikorodu Road, Maryland Bus Stop, Lagos State.

ACCION MICROFINANCE BANK

Global brand Accion Microfinance Bank was founded in Latin America in the 1960s and is currently regarded as one of Nigeria’s top microfinance banks.

Founded in 2006, Accion’s headquarters is located at 154, Ikorodu Road, Onipanu, Lagos, Nigeria. The bank primarily lends money to small business owners and groups of individuals who agree to repay the loans with interest within the agreed upon time frame.

FINA TRUST MICROFINANCE BANK

Fina Trust Microfinance Bank, a leading microfinance bank in Nigeria, received its operating licence from the Central Bank of Nigeria (CBN) in September 2009 and commenced operations in October of the same year.

The bank operates in Lagos State and is headquartered at 46, Toyin Street, Ikeja. It is a subsidiary of the LOLC Group, which has its corporate headquarters in Colombo, Sri Lanka.

AB MICROFINANCE BANK NIGERIA

AB Microfinance Bank is currently one of Nigeria’s top microfinance institutions. With branches across the nation, this bank has been operating in Nigeria since 2002, and can rightfully claim to be among the nation’s oldest microfinance institutions.

With its headquarters located in Lagos State, AB Microfinance Bank Nigeria has branches in Lagos, Oyo, Ogun, and Ondo States.

MAINSTREET MICROFINANCE BANK

Mainstreet Microfinance Bank Limited provide financial services to Nigeria’s low-income earners and micro and small-scale enterprises who operate in the informal sector of the economy.

The bank, formerly known as Afribank Microfinance Bank Ltd, is a private liability company that was authorised by the Central Bank of Nigeria (CBN) to offer microfinance banking services. It was founded in November 2008.

Since their founding, they have persisted in offering microcredits and other financial services to their steadily growing clientele as well as to companies in Lagos State who need finance for working capital and branch expansion.

ADDOSSER MICROFINANCE BANK

Located in Lagos State, Addosser Microfinance Bank Limited was established on May 27, 2008.

By offering financial support to small and medium-sized businesses through value-added products and services, this microfinance bank contributes to the expansion of their financing solutions.

Across its four business groups, Retail and Microenterprise Banking, SME Banking, Consumer Banking, and Specialised Products and Investment, the bank, one of the top Microfinance banks in the country, provides a broad array of services and products to its clientele.

MUTUAL BENEFITS MICROFINANCE BANK

Mutual Benefits Microfinance Bank Limited is a leading Microfinance bank with its corporate head office at 10, Apapa Road, Oyingbo, Ebute Metta, Lagos.

From inception the bank has tirelessly set the pace for other Microfinance financial institutions to follow; in terms of service quality, product functionality and exceptional customer service.

The bank is strategically positioned to offer financial services support to small and micro-enterprises in Nigeria.

Since commencement of its operation, the bank has grown from its humble beginning to a mid size microfinance bank making it among the best microfinance bank in Nigeria however the aim of the bank is to be among the best in Africa.

Within the two years of commencement of business activities the bank has expanded from its corporate head office to have seven branches which are strategically located within mainland and the island.

The Bank prides itself as a promise keeper to its numerous customers and has been able to endear them by keeping all promises made especially in the area of loan disbursement.

ASSETS MICROFINANCE BANK

Assets MFB offers value-based banking to Nigerians by creating superior value for all stakeholders with the most effective and sustainable technologies, holding themselves to the highest professional and ethical standards, and building an enduring transparent institution.

This microfinance bank is growing to become a leading, transparent customer-centric digital banking institution in Nigeria.

Assets Microfinance bank is a tier-1 deposit mobilization bank providing accessible, reliable and convenient financial services to individuals and businesses across Nigeria.

BOI MICROFINANCE BANK

BOI Microfinance Bank Nigeria is a subsidiary of Bank of Industry Nigeria. It offers a broad range of financial services to micro, small and medium-sized enterprises and various low income earners both as individuals and as groups.

BOI Microfinance Bank is fully committed to improving entrepreneurs businesses by providing easily accessible loans and good business advices to help improve and sustain long term growth.

It also provides various saving deposits for all level of customers. It is a limited liability company duly incorporated in Nigeria under the 2002 Companies and Allied Matters Act, and is regulated by the Central Bank of Nigeria.

Being a subsidiary of The Bank of Industry, the bank has a very strong financial backing and has been tasked with improving access to financial services in the country.

MUTUAL TRUST MICROFINANCE BANK

Mutual Trust Microfinance Bank was recapitalized and renamed in 2016. They specialize in top-notch banking services.

This microfinance bank is always driven by their core values and their professional culture.

They seek to create an exciting, friendly, and welcoming environment that nurtures team spirit and excellence in every individual.

This is always shown by their constant improvement in providing excellent service delivery and prompt provision of financial services to their customers.