Banex Microfinance Bank Limited
A microfinance bank in Nigeria.
Last updated September 1, 2026
Overview
Banex Microfinance Bank Limited is a microfinance bank in Nigeria. It was incorporated as a Limited Liability Company on 13 April 2012 with an authorized and paid up share capital of N20,000,000 divided into 20,000,000 ordinary shares of N1.00 each. The nominal and paid up share capital were subsequently increased to N50,000,000 and further increased to N110,000,000, but the latter increase was yet to be approved by the CBN. The bank aims to provide efficient, affordable financial services to low income clients, lifting them out of poverty.
History
Banex Microfinance Bank Limited was incorporated as a Limited Liability Company on 13 April 2012 with an authorized and paid up share capital of N20,000,000 divided into 20,000,000 ordinary shares of N1.00 each. The nominal and paid up share capital were subsequently increased to N50,000,000 made up of similar shares of N1.00 each and further increased to N110,000,000 also made up of shares of N1.00 each but yet to be approved by the CBN.
Sources
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