Licensing a microfinance bank
A microfinance bank (MFB) licence lets you take deposits and lend at the community level — and it is one of the more structured CBN licences, graded by tier with capital to match. Whether you are starting one or upgrading an existing MFB to a higher tier, this guide explains the tiers, requirements and the CBN process.
Honest note: RenewPapers is not the CBN. MFB licences are granted by the Central Bank. What we do is structure the company, prepare the application and feasibility study, and run the AIP-to-final process — and handle upgrades.
The tiers
- Unit MFB (Tier 1 / Tier 2) — a single location (or limited branches); the entry tier.
- State MFB — operate across a state, with higher capital.
- National MFB — nationwide operation, the highest capital and standard.
Capital has been rising — confirm the current floor. The CBN has directed recapitalisation across tiers. We confirm the live minimum capital for the tier you want before you commit, and structure accordingly.
What are you doing?
Starting or upgrading an MFB?
Tell us your plan and coverage. We will confirm the tier and capital, structure the bank, and run the CBN application or upgrade.
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Getting CBN-licensed? Line these up
Handpicked next steps for this — we can handle any of them for you.
CBN licence (AIP to final)The master guide to getting CBN-licensed.
Register a business (CAC)Register the company with CAC first.
SCUML registrationCBN-regulated businesses need SCUML.
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