If you are looking for trusted microfinance banks in Ondo State, Nigeria, this post is for you. Microfinance Banks (MFBs) are licensed financial institutions that provide savings, loans, and other financial services to individuals, students, small businesses, and rural communities who may not have easy access to commercial banks. In this article, you will find the complete list of approved microfinance banks in Ondo State, including their locations in AKURE, Ajuta, Ifon, and beyond.

List of All Microfinance Banks in Ondo State

There are 16 Microfinance Banks in Ondo State. They are

ADEYEMI COLLEGE STAFF Microfinance Bank

AJUTA Microfinance Bank

AOGO Microfinance Bank

EKIMOGUN Microfinance Bank

FASILDAPO Microfinance Bank

IJARE Microfinance Bank

ILE-OLUJI Microfinance Bank

ILUTUNTUN-OSORO Microfinance Bank

LAYELU Microfinance Bank

MEMPHIS MICROFINANCE BANK LIMITED

NEW AGE Microfinance Bank

OAKLAND Microfinance Bank

OKEAGBE Microfinance Bank

OREDEGBE Microfinance Bank

OROKE Microfinance Bank

SHIELD Microfinance Bank

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Microfinance Banks in Ondo State and their location.

These are the list of all 16 Microfinance Banks and their branches in Ondo State

ADEYEMI COLLEGE STAFF Microfinance Bank located at Microfinance Bank BUILDING, ADEYEMI COLLEGE OF EDUCATION, ONDO TOWN, ONDO STATE

AJUTA Microfinance Bank located at MARKET ROAD, LOSO QUARTERS, OGBAGI AKOKO, ONDO STATE

AOGO Microfinance Bank located at OBA ADESANOYE HOUSE, 39/41, CANON ADEYEMI ROAD, SABO, ONDO STATE

EKIMOGUN Microfinance Bank located at 2, IFORE STREET, ONDO, ONDO STATE

FASILDAPO Microfinance Bank located at COMMUNITY DEVELOPMENT HOUSE, NO. 2 BARRACKS ROAD, IFON, ONDO STATE.

IJARE Microfinance Bank located at 34 OBASOLA STREET, IJARE, ONDO STATE.

ILE-OLUJI Microfinance Bank located at 3, IPARAKU STREET, OKE-ARO, ILE-OLUJI, ONDO STATE

ILUTUNTUN-OSORO Microfinance Bank located at 2, BANK ROAD, BROAD, STRET, ILUTUNTUN-OSORO, ONDO STATE

LAYELU Microfinance Bank located at 102, BROAD STREET, ODE-AYE, ONDO STATE

MEMPHIS MICROFINANCE BANK

LIMITED located at NICON HOUSE, 221 ARAKALE ROAD, ISIKAN, AKURE, ONDO STATE

NEW AGE Microfinance Bank located at OLD UAC BUILDING, OSELE MARKET, IKARE, ONDO STATE

OAKLAND Microfinance Bank located at SOKEDILE HOUSE, OKA, AKOKO SOUTH LGA, ONDO STATE

OKEAGBE Microfinance Bank located at A2, RUFUS GIWA ROAD, AFA, OKEAGBE, ONDO STATE

OREDEGBE Microfinance Bank located at 42, IGBALAYE ST (IDANRE ROAD), OKE- ARO, ONDO STATE

OROKE Microfinance Bank located at IBAKA QUARTERS, IKARE ROAD, AKUNGBA AKOKO, ONDO STATE

SHIELD Microfinance Bank located at OBADA MARKET, ILARA MOKIN, IFEDORE LGA, ONDO STATE

The above Microfinance banks are licensed either as state MFBs,tier1 or tier 2 unit banks, meaning they are recognized by regulatory authorities and permitted to offer financial services to the public.

Structure of Microfinance Banking in Ondo State

The structure of microfinance banks in Ondo State is based on licensing categories:

State MFBs operate across the entire state.

Tier 1 Unit MFBs has a Wider customer reach than Tier 2, suitable for larger LGAs or semi-urban areas. It also Provides micro-loans, savings, and financial services to a bigger population within an LGA.

Tier 2 Unit MFBs focus on specific local government areas or communities.

Microfinance Banks and their Status.