Port Harcourt, Rivers State — As excitement builds for the Niger Delta Advancement Awards (NDAA) 8.0, attention turns to the vital role of microfinance institutions in driving economic empowerment, entrepreneurship, and grassroots development across the nine Niger Delta states: Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers.
Organized by Juvenis Magazine/TV, the grand ceremony is scheduled for Sunday, February 8, 2026, at The Arena Event Centre, GRA Phase 2, Port Harcourt. The red carpet begins at 4:00 PM, with the main event starting at 5:00 PM. Featuring 56 categories and over 840 nominees recognizing outstanding achievements in 2025, NDAA 8.0 celebrates progress and innovation in the region.
Alexa News Network Limited (Alexa.ng), a leading independent digital news platform committed to credible reporting and regional advocacy, proudly serves as an official media partner. This collaboration amplifies stories of financial inclusion and community upliftment in the Niger Delta.
The Best Microfinance Bank category showcases 15 exceptional institutions that have excelled in providing accessible loans, savings products, digital banking, and support for SMEs, women entrepreneurs, and underserved populations. These nominees promote financial inclusion, boost local economies, and align with sustainable development goals.
Here are detailed profiles of the nominees:
1. Moniepoint Microfinance Bank (Rivers State)
A leading fintech-driven microfinance bank (formerly TeamApt), Moniepoint is headquartered in Lagos but maintains a strong presence in Rivers and nationwide. It powers businesses through seamless payments, POS terminals, loans, and business management tools, serving over 10 million customers. Recognized as Africa's fastest-growing financial institution (2023-2025) by the Financial Times, Moniepoint processes billions in transactions monthly and supports SMEs with quick credit and digital solutions, making it a key player in Nigeria's cashless economy.
2. Prospects Microfinance Bank (Akwa Ibom State)
Established in 2008 as a unit microfinance bank in Uyo, Prospects MFB operates from No. 119 Oron Road. With an authorized share capital of N150 million and a solid asset base, it focuses on serving the productive but financially excluded in Akwa Ibom. The bank provides group/personal loans, savings products, and community-focused services, fulfilling its mandate to empower local populations through ethical and sustainable microfinance.
3. First Royal Microfinance Bank (Cross River State)
Originally Mbukpa Area Community Bank (incorporated 2004), it converted to a microfinance bank in 2007 under CBN license. Headquartered at 12 Chalmer Street, Calabar, First Royal emphasizes wealth creation for the active poor with professional services. It offers savings, credit, and ethical financial products, with branches across Cross River, positioning itself as a dynamic institution committed to community empowerment.
4. Baobab Microfinance Bank (Abia State)
Part of the international Baobab Group, this CBN-licensed bank has a branch in Aba (Fazal House, 3AB Okigwe Road) and serves over 200,000 clients nationwide. It provides business loans, savings (including Jollof+), and support for micro-entrepreneurs, combining financial sustainability with social impact. Baobab's presence in Abia highlights its focus on dynamic business environments and underserved segments.
5. Accion Microfinance Bank (Rivers State)
A national player with multiple branches in Rivers (e.g., Rumuokoro, Ikwerre, Oyigbo), Accion empowers micro-entrepreneurs and low-income earners through quick loans, savings, micro-insurance, and digital services. With over 674,000 accounts and strong growth (N7.65bn gross earnings in 2024), it supports SMEs in Port Harcourt and beyond, driving economic inclusion since 2007.
6. Memphis Microfinance Bank (Ondo State)
Located at SSB House, Ondo Road, Isikan, Akure, Memphis MFB (a subsidiary of OSOPADEC) offers savings, asset finance, and loans. It has recorded steady growth despite economic challenges, targeting N1bn to expand unrestricted statewide. The bank focuses on real-sector development, human capital, and empowering communities in Ondo.
7. Aspire Microfinance Bank (Delta State)
A state-wide MFB since 2015, Aspire operates from its head office at 405 Nnebisi Road, Asaba, with branches like Kwale. It provides savings, credit, and business development services to unbanked populations in Delta. With a mission to inspire aspirations through financial tools, Aspire has been recognized as the Best State Microfinance Bank in Delta (2019) and aims for significant growth.
8. Trustfund Microfinance Bank (Edo State)
Focused on Edo communities, Trustfund delivers accessible microloans, savings, and financial services to SMEs and individuals, promoting economic stability and inclusion in the state.
9. Toprate Microfinance Bank (Imo State)
Serving Imo residents, Toprate emphasizes efficient credit and savings products, supporting local entrepreneurs and fostering financial resilience.
10. Izon-Ibe Microfinance Bank (Bayelsa State)
Tailored to Bayelsa's unique needs, Izon-Ibe provides culturally relevant financial solutions, empowering oil-rich communities with loans and savings for sustainable development.
11. Maxitrust Microfinance Bank (Rivers State)
A dynamic player in Rivers, Maxitrust offers innovative microfinance products to build trust and growth among small businesses and households.
12. Palmcoast Microfinance Bank (Akwa Ibom State)
Operating in Akwa Ibom, Palmcoast focuses on coastal and rural empowerment through accessible banking and credit facilities.
13. Coastline Microfinance Bank (Delta State)
Targeting Delta's coastal areas, Coastline provides tailored loans and savings to support fishing, trading, and small enterprises.
14. Fast Microfinance Bank (Edo State)
Known for quick service delivery, Fast MFB offers rapid credit solutions in Edo, aiding business expansion and daily financial needs.
15. AB Microfinance Bank (Rivers State)
A key Rivers-based institution, AB MFB delivers reliable microfinance services, contributing to urban and peri-urban economic activities.
These nominees exemplify the power of microfinance in transforming lives and economies in the Niger Delta. Public voting continues on the official NDAA platform.
The winner of Best Microfinance Bank will be announced at the February 8, 2026, event. Alexa News Network Limited (Alexa.ng) will provide comprehensive coverage to celebrate these institutions and inspire greater financial inclusion.
