The Receiver for the purposes of winding down the affairs of 347 insolvent Microfinance Companies and 23 Savings and Loans and Finance House Companies who had their operating licenses revoked on 31 May 2019 and 16 August 2019, has issued a statement to all borrowers and loan defaulter of the said institutions.

A statement sighted on Tuesday 23rd June 2020, read, “the Receiver wishes to notify the general public especially person/persons/institutions who took loan facilities from these defunct companies to visit any of the maintained branches of these institutions for repayment of the loans immediately.”

Attached to the release were 23 branches, account numbers and mobile money numbers, which are also available on

The Receiver encouraged all defaulters to settle their outstanding obligations to the defunct companies through the respective MTN MoMo numbers and receivership bank accounts listed.

The statement went on to mention that, “the Receiver will pursue all recalcitrant defaulters through all available means as permitted by the Act including, but not limited to, legal actions and publishing names of recalcitrant defaulters in national and international newspapers. In this regard, the Receiver will soon publish the first list of recalcitrant defaulters and their respective addresses in the national dailies.”