If you are looking for trusted microfinance banks in Sokoto 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 Sokoto State, including their locations in yabo, yima, and beyond.

List of All Microfinance Banks in Sokoto State

There are 5 Microfinance Banks in Sokoto State. They are

GIGINYA Microfinance Bank

GWADABAWA Microfinance Bank

NAGARTA Microfinance Bank

RIMA Microfinance Bank

YABO Microfinance Bank

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Microfinance Banks in Sokoto State and their location.

These are the list of all 5 Microfinance Banks and their branches in Sokoto State

GIGINYA Microfinance Bank located at 19, MAIDUGURI ROAD, SOKOTO, SOKOTO STATE

GWADABAWA Microfinance Bank located at llella Road, BakinKasuwa, P.O.Box 4112, Gwadabawa, Sokoto State

NAGARTA Microfinance Bank located at 47, ABDULLAHI FODIO ROAD, SOKOTO, SOKOTO STATE

RIMA Microfinance Bank located at SAMBO ROAD, SABONGARI, GORONYO, SOKOTO STATE

YABO Microfinance Bank located at NO. 3, SHEHU SHAGARI ROAD, YABO, SOKOTO 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 Sokoto State

The structure of microfinance banks in Sokoto 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.