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Best Microfinance Banks in Nigeria | Top 8 in 2020



Highest currency in the world

This article will tell you the best Microfinance banks in Nigeria, that offer a wide range of incomparable financial services in the country.

Microfinance is a section of financial services which aims at providing financial opportunities to small enterprises/businesses, which lack access to the normal banking services.

The financial institutions which provide such services are known as Microfinance Banks(MFBs). Most importantly, they offer credit facilities to all customers. Similarly, they have very low interest rates on all loans, compared to that of commercial banks.

Meanwhile, Microfinance banks do not only give loans to customers but also offer saving and investment services. That is to say, you get more of your money when you invest with them but, for a specific period.

So, in this post, I will be giving you a list of the top 8 microfinance banks in Nigeria, and how to gain access to their affordable services.

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Best Microfinance Banks in Nigeria

Like I said earlier, I will mention the top 8 microfinance institutions in Nigeria, and alongside their contact information.

Note that the list does not follow any particular order, but arranged randomly. Therefore, you are to select the MFB you like and contact them for their financial services/products.

These are the top microfinance banks in Nigeria for Nigerians.

Addosser Microfinance Bank

The Addosser Microfinance bank limited, became incorporated on the 27th May, 2008. Since the inception of the Microfinance bank operations, they have been offering and providing a variety of finance options to Micro, Small and Medium Enterprises(MSMEs).

Best microfinance banks in Nigeria

It is one of the leading MFBs in Nigeria and has disbursed loans of over N29 billion. Above all, the company boasts of over 70,000 customers (81% of this number are women). 

Addosser Microfinance bank has helped in providing opportunities to customers, and helping their businesses thrive.

In the year 2013, the Bank’s operating license became upgraded from a unit MFBank to a state MFBank. The company’s services are always getting better as the day goes by.

If you have a small business, and you need finance to grow your business, I will recommend Addosser Microfinance Bank limited to you, especially if you are a female entrepreneur.

Contact Information

Head office – 7, Apongbon street, Lagos Island, Lagos.

Phone number – 08124876070

Email –

Website –

Finca Microfinance Bank

The Finca Microfinance bank became incorporated in the year 2014. The Microfinance institution has placed its focus on provision of loans to small scale businesses in Nigeria, especially in the agricultural sector of the economy.

Best Microfinance banks in Nigeria

In addition, the company offers a variety of credit/savings products and also provides money transfers and insurance services.

In the year 2016, FINCA Nigeria introduced a third party service delivery subsidiary called FINCA eXpress.

Moreover, FINCA express are located where customers live and work, to provide them essential financial services and financial literacy training. As a result, customers do not need to travel long distances to the nearest branch.

Contact Information

Head office – Plot 20, Wetheral road, Owerri Municipal, Imo state.

Phone number – 07017771072

Email –

Website –

Rehoboth Microfinance Bank

Rehoboth Microfinance bank got a license on the 15, January 2008, to carry out microfinance banking business in Nigeria. Since then, the institution has been offering a wide range of affordable and reliable financial services.

Best Microfinance banks in Nigeria

In addition, the microfinance institution was established to respond to the financial needs of small businesses, the underserved and unbanked public.

Rehoboth Microfinance bank commenced operations on the 18th, January 2008, and has subsequently been harnessing opportunities available in the Nigerian Microfinance market.

Contact Information

Head office – 13, Aweh crescent, Onipanu Bus stop, Lagos.

Phone number – 08116670300

Email –

Website –

Fina Trust

Fina Trust Microfinance Bank is one of the earliest Nigeria’s Microfinance banks. The financial institution received its operating license in September, 2009 to provide microfinance services to clients. However, the bank commenced operation fully in October, 2009.

Best Microfinance banks in Nigeria

Although, the company has its head office in Sri Lanka, outside Nigeria, its registered Nigerian head office is located in Lagos state.

The Microfinance institution has made provision of financial services to Small and Medium Enterprises (SMEs) in Nigeria.

Also, Fina Trust Microfinance bank has also partnered with leading Nigerian banks which include Sterling Bank PLC and Fidelity bank PLC.

The partnership was signed to enable  its customers deposit/withdraw funds from the commercial bank partners with over 1,000 branches in Nigeria.

Contact Information

Head office – 46, Toyin street, Ikeja, Lagos state.

Phone number – 09062020040

Email –

Website –

AB Microfinance Bank

AB Microfinance bank is a Nigerian Microfinance bank licensed by the Central Bank of Nigeria, to help improve the business opportunities of small and medium scale entrepreneurs.

An Microfinance bank

Ever since the incorporation, the bank has been ultimately committed to the task of improving access to financial products/services in Nigeria.

Therefore, they act as a source of finance for many businesses. Similarly, they offer financial advisory services to customers.

In addition, the bank provides loan to customers based on their repayment capacity. However, business loans are considered of greater priority compared to personal/individual ones. Therefore, business loan application become granted easily.

Contact Information

Head office – 28, Akintoye Shogunle street, Ikeja, Lagos.

Phone number – 09024969355

Website –

Mainstreet Microfinance Bank

Like the others, the Mainstreet Microfinance bank was licensed by the Central Bank of Nigeria to operate in the Microfinance sector of the Nigerian economy.

Meanwhile, the bank offers customers access to loans, mobile banking, investment, and so many financial services/products.


Mainstreet Microfinance bank can certainly boast of over 100,000 satisfied Nigerian customers with over N14 billion disbursed loans.

Contact Information

Head office – 94, broad street, Lagos Island, Lagos.

Phone number – 07083830241

Email –

Website –

Accion Microfinance Bank

Action Microfinance bank was established in 2006, and began  its operation in May, 2007, after receiving a license from the Central Bank of Nigeria.

Further, the Microfinance bank has a mission to empower micro entrepreneurs and low income earners by making financial services available to them.

Best Microfinance banks in Nigeria

Similarly, Accion Microfinance bank limited signed a partnership deal with Citibank, Ecobank, and Zenith bank Nigeria so to help improve its services.

Above all, Accion has built a tradition of developing innovative solutions to poverty.

Contact Information

Head office – Elizade plaza, 322A Ikorodu road, Lagos.

Phone number – 012719325

Email –

Website –

LAPO Microfinance Bank

LAPO Microfinance Bank is a pro poor financial institution established to provide access to responsive financial services for sustenance.

Best Microfinance banks in Nigeria

The products/services of the Microfinance Bank is likewise targeted at low income households. It commenced operations fully in 1980.

In addition, LAPO Micro finance bank got an approval in 2012 to operate as a national Microfinance bank in Nigeria.

Most importantly, the institution has received numerous awards in the past years for delivering excellent financial services to Nigerians.

Contact Information

Head office – 18, Dawson road, P.M.B 1729, Benin City, Edo state.

Phone number – 0528821689

Email –

Website –

We have come to the end of the article, and we certainly hope you have picked your choice from the list of the Best Microfinance Banks in Nigeria.

In the same vein, do well to subscribe to our newsletter and share the post with others who will need it. Also, feel free to ask questions in the comment section.

Welcome to Financial Expert, I am Falade Oluwasemilore, a web content writer. I love to write about how to manage and grow finances.

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Top Lists

Top 10 Richest Musicians in Nigeria 2021 Today [Updated]



Richest musicians in Nigeria 2020

Top 10 Richest Musicians In Nigeria 2021.

These days, Nigerian Musicians have been dominating the group of elites in the society. We see them post various photos of them in Private Jets, Rolls Royce, Porsche, and other places where only the wealthy can be found.

This has proven to us that majority of them who started from the scratch in music can now boast of attaining a level of affluence. As a result of this, there is a rising urge on our side to know those who top the list of Richest Musicians in Nigeria. Certainly, you wanna know where your fave stands.

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Unfortunately, this list won’t give you the names of all Nigerian Musicians and Sequential number, but will focus on only the Top 10 Richest Musicians in Nigeria.

Richest musicians in Nigeria 2021

Who is The Richest Musician in Nigeria Today?

Find out and see the wealthiest musicians in Nigeria and their net worth in 2021.

10. Paul Okoye – $10 million

Now known as Rudeboy, Paul Okoye is one of the most famous and successful music duo (PSquare) which split some years ago (2016 precisely).

Paul okoye net worth 2020

He is married to Anita Osama and their Union is blessed with a son(Andre Okoye). The Musician himself was born on the 18 November, 1981, and has started singing since 2001 till date.

While he was still with his twin brother, Mr P, in their PSquare Duo, they were nominated and won so many awards like City Mag, Nigerian Music Awards, MTV Africa Music Awards, B.E.T Awards, and a lot more.

However, even after they split, Paul Okoye or Mr. P is estimated to worth around 10 Million Dollars. Now imagine how much they will worth if they were still together.

PSquare is known for hits like Danger, Chop My Money, Nobody Ugly, Beautiful Onyinye, Personally, Bank Alert, Bring It On, Away, Bizzy body to mention a few.

9. Peter Okoye – $10 million

The other one in the former PSquare Duo, Peter Okoye who we now know as Mr P. Since Mr P and Rudeboy are identical twins, they therefore share the same date of birth [18 November, 1981].

Peter okoye net worth 2020

PSquare group was signed to their own record label (Square Records). They are known to perform with other reputable artistes like Akon, Sean Paul etc.

The duo signed an ambassadorship deal with Globacom which earned them a lot of money too. However, the deal has not been renewed since 2016.

Peter Okoye is married to Loretta Omotayo and their Union is blessed with two children, Cameron and Aliona Okoye.

Mr P is also estimated to worth around 10 million dollars, which is the same as his twin brother’s and former partner, Paul Okoye. This is because their assets were divided into two halves when they split.

Also, the former duo had a private jet in their name while they were still known as PSquare, but we do not know anything about it now. They have probably sold it and shared the returns too.

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8. Timaya – $10.5 million

Inetimi Timaya Odon, popularly called Timaya was born on the 15 August, 1977. He has been in the Nigerian Music Industry since 2005 and has since then been successful in what he does.

Timaya networth 2020

He is well known for his raggae hits, dancehall, hip hop, and afro beats like 2 stoopid, Balance, Bam Bam, I Can’t Kill Myself, Ah Blem Blem, Telling Person, I Concur to mention a few.

Recently, he showed us his mansion, which has a cinema and a big swimming pool in it. The mansion is located in Lekki, Lagos Island. In fact, he has a Bentley, Range Rover, Lexus, Mercedes Benz, etc.

The Raggae Pop artiste has received so many awards nominations and has won a whole lot of them like Nigerian Music Awards, The Headies, AFRIMMA, Grammy. He is well recognised locally and internationally.

Timaya’s net worth is around 10.5 million dollars, judging from his assets and properties. That’s not a small money at all.

7. Phyno – $11 million

The famous indigenous rapper, Phyno, whose real name is Chibuzor Nelson Azubuike was born on 9 October, 1986. He is a native of Anambra, but was born and bred in Enugu State, Nigeria.

Phyno net worth 2020

Little did we know that Phyno was also seen playing some roles in movies. Therefore, he was also an actor before he came into limelight as a musician.

The rapper does his own rapping in the native Igbo Language and is known to dominate in his field. He started his music career in 2010 and has since been successful in it.

Phyno Fino has released a number of debut albums like No Guts No Glory, Ghost Mode etc. He has also featured quite a number of other Nigerian artistes like Olamide Baddo, Omawunmi, PSquare, Timaya, M.I, Ice Prince, Ill Bliss, Davido, Don Jazzy, Yemi Alade, Lil Mesh, Mayorkun, Falz etc.

Moreover, he has been nominated for awards like the Headies, Nigerian Entertainment Awards, City People Awards, MTV Africa Music Awards and of course has won a few of them.

The Igbo rapper is not known to possess a private jet, although he is usually seen in Private Jets in most of his photos. Well, someone of such popularity can’t travel in an economy class aircraft, so he for sure has to fly private.

He owns a Bentley, Rolls Royce, and a Range Rover Sports. The musician has signed a number of endorsement deals with Nairabet, Guinness, Airtel etc.

Phyno has a net worth of 11 million dollars. That is why he comes to number 7 on our list of the top 10 richest musicians in Nigeria.

6. Olamide – $12 million

Another Indigenous rapper, singer and songwriter, born on 15 March, 1989, Olamide Adedeji. He started his music career in 2011 with his first debut album “Rhapsodi”.

Olamide net worth 2020

Olamide has a babymama with a son, known as Maximilian Adedeji. The birth of his first son, inspired his song “Letter To Milli” in 2016.

Olamide is known for hits like Durosoke, Summer Body, Motigbana, Choko Milo, 100 to million, Eni Duro, Oil and Gas, Wavy Level, Voice of the Street, Pawon, WO, Woske, Shakiti Bobo, Wonma, Abule Sowo amongst others. The truth is Olamide baddo is a very consistent hitmaker. His street bangers are innumerable. He is recognised as the King of the Streets.

Baddo is the current CEO and founder of YBNL Records. He has brought a number of artistes like Adekunle Gold, Lil Kesh, Chinko Ekun, Yomi Blaize, Picazzo Rhap, Fireboy DML, Viktoh, Lyta, Davolee, Limerick into limelight.

Olamide is currently worth over 12 million dollars. Obviously, he should worth more than that, but the Yoruba Rapper has proven to be the true definition of “We Rise By Lifting Others”.

The Musician was the first Nigerian celebrity to sign an endorsement deal with Ciroc. He is also an ambassador of Hennessey, Monster Energy, Nairabet, Goldberg, Guinness, Etisalat, Itel and other corporate companies.

Recently, His record label, YBNL signed a joint venture deal with Empire, and he announced that himself and Fireboy are going to offer quite a lot.

Olamide Baddo received so many award nominations and won so many of them like The Headies, Nigerian Entertainment Awards, City People Entertainment Awards, B.E.T etc

The 31 year old hit naker has a Bentley, Range Rover Sports, Toyota, Porsche, Rolls Royce. Mercedes Benz. Presently, he does not have his own bird, but with his net worth, he could have gotten one if he needed it.

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5. 2Baba – $16 million

Formerly known as Tu Face Idibia, 2 Baba was born on 18 September, 1975. One of the oldest in the Music Industry. His real name is Innocent Ujah Idibia. He is a singer, singer, songwriter and producer.

2baba net worth 2020

The 44 year old is married to Annie Macaulay who is now Annie Idibia. Their marriage is blessed with 2 girls, Olivia and Isabella Idibi. However, 2 Baba has 5 other kids from 2 different women. He is the Solomon of our time. That is, he has a total of 7 kids from 3 women.

2 baba was among the Plantashun boyz record label, which was dissolved in 2004. All individual artistes now pursue their own musical careers.

One of his hits “African Queen” made him very popular and recognised at home and abroad. The song is mostly played at weddings, and other related events.

2 baba is still the only Nigerian Musician to have received a lot of award nominations locally and internationally. In addition, he has received a number of honorary degrees from various universities.

The R&B star was also appointed as the Good Cause Ambassador for the Nigerian Stock Exchange (NSE).

As at 2020, 2 baba was estimated to worth about 16 million dollars. He owns a Chevrolet Corvette, Ferrari, Rolls Royce, Range Rover and a mansion in Banana Island.

4. Burna Boy – $17 million

Burns Boy, whose real name is Damini Ebunoluwa Ogulu Rex was born on 2 July, 1991. He is a prominent Afro Pop Singer and Songwriter.

Burna boy net worth 2020

He is currently signed to Spaceship records(His own Record Label) and has been making hits upon hits. Oluwa Burna started his music career in 2010, but rose to limelight after he released “Ye”.

His 2019 album “African Giant” was nominated for the category of Best World Music Album for the Annual Grammy Awards, along with Angelique Kidjo. Unfortunately, Angelique Kidjo took the upper hand.

Also, Burna’s Grandfather, Benson Idonije was once the manager of the famous Fela Anikulapo Kuti. Burna boy described his own genre if music as Afro-Fusion.

Apart from his Grammy Awards nomination, he has also been nominated for awards like South South Music Awards, Nigeria Entertainment Awards, The Headies, MTV Africa Music Awards, Sound city MVP Awards, B.E.T Awards, African Muzik Magazine Awards etc.

He has made hits like Ye, On the Low, Dangote, Killing Dem, Anybody, Gbona, and a lot more. Recently he was features along with some other Nigerian Artistes in the Beyonce’s Lion King Album. The Duo released a song titled “Ja Ara E“. He has a huge fanbase internationally.

3. Don Jazzy – $18.5 million

The King himself, Michael Collins Ajereh known by his stage name Don Jazzy, is a Nigerian record producer, singer and songwriter.

Don jazzy net worth 2020

He founded His own record label “Mavin Records” in 2012. Personally, Don Jazzy hasn’t been releasing songs but has been consistent as a Music Producer. He brought Rema, a young artiste and rapper into limelight. However, there are rumours that Rema is actually Don Jazzy’s nephew.

Don Jazzy was born on 26 November 1982, and stated singing in 2002. Those days he started music with the likes of D’ Banj, Wande Coal, and Timaya.

Till date, Don Jazzy is not known to have or had any affair with any lady and therefore does not have any children. This is very hard to believe as we feel he might be keeping his family’s identity from the entire public. He is a native of Delta State, Isoko to be precise.

He is a graduate of Business Management Studies at Ambrose Alli University, Ekpoma, Edo State. You might not know that Don Jazzy has once worked as a Security Guard and a Driver in London.

The Dorobucci crooner has been nominated for various awards like Nigerian Music Awards, The Headies, City People Entertainment Award, Nigerian Entertainment Awards as a Producer.

In addition, his music production skills gave fame to Wande Coal, D’ banj especially in his albums like No Long Things, Rundown, Funk U Up, The Entertainer etc. Don Jazzy is the real King of Music Production.

The Mavins Founder is estimated to worth 18.5 million dollars.He has a Private Jet and a number of Exotic and Luxurious Cars and houses.

2. Davido – $19 million

Born to the Nigerian Billionaire, Adedeji Adeleke, on the 21 November, 1992. David Adeleke is a Nigerian Singer and Songwriter.

Davido net worth 2020

The Afrobeats artiste was born in Atlanta Georgia, United States of America. He completed his secondary school education at British International School, Lagos, but moved back to the states for his tertiary education.

Due to his extreme love for music, he dropped out Oakwood University where he was studying Business Administration, and pursued Full-time Music. When he came back to Nigeria, he attended Babcock University and obtained a degree in Music in 2015.

He rose to prominence after his first hit “Omo Baba Olowo“. Davido is the current CEO and founder of Davido Music Worldwide (DMW). The record label has signed a number of artistes like Mayorkun, Dremo, Lhil Frosh, Peruzzi, and a number of other reputable artistes.

Davido became the youngest Nigerian Celebrity to own a Private Jet. He acquired his own bird after using his Father’s jet for some years. His jet costs nothing less than a million dollars.

The Afro Pop Star has released hits like Aye, Fall, Money, If, Nwa Baby, One Thing, Risky, Sweet In The Middle, Wonder Woman, Fia and a lot of other hits.

David Adeleke is worth over 19 million dollars.

1. Wizkid – $20 million

I bring to you the richest celebrity Nigeria has ever produced, Ayodeji Ibrahim Balogun known by His stage name, Wizkid. The Ojuelegba Crooner was born on the 16 July, 1990.

Wizkid richest musician in Nigeria

He became popular when he released his first single ” Holla At Your Boy“. The Afro Star also started recording music at the age of 11, till his career was propelled by the Famous Banky W.

Wizkid has written songs for a lot of international stars like Drake in “One Dance” which was a major hit in more than 15 countries.

He has been nominated for various awards and has won numerous of them, counting them will take a lot of time.

Ayo Balogun has released other songs like Ojuelegba, Joro, Socco, Joy etc. The Superstar is signed to and is the Founder of Star Boy Record Label. Some of his hits are Ojuelegba, Come closer, Pakurumo, Don’t dull, Love my baby, Fever to mention a few.

The musician has a private jet, Porsche, Rolls Royce, Range Rover and houses at home and abroad. He is the king of Afro Pop in Africa and beyond.

Also, the young artiste signed a multimillion naira endorsement deal with Pepsi some years back. He is estimated to worth around 20 million dollars and counting. In fact, five generations of Wizkid’s will never go broke in their lives.

Moreover, Wizkid has a babymama and a son. Also, he became the first Afrobeats artiste to appear in the 2018 Guinness World Records. In conclusion, He is indeed an Expensive Sh*t.

That’s the complete and updated list of richest musicians in Nigeria for you.

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Top Lists

List Of Insurance Companies in Nigeria [NAICOM 2020] UPDATED



List of Insurance companies in Nigeria

This article will give a list of Insurance Companies in Nigeria. All the names of companies contained in the list have been duly registered by the National Insurance Commission.

List of Insurance Companies in Nigeria

Insurance simply means management of future risks! I believe you got that straight. However, if you didn’t, watch out for the subsequent ones.

Insurance is a form of aids to trade, which helps in the provision of guarantee for unexpected situations. For example, a fire outbreak can occur at your restaurant just like the popular restaurant at Albuquerque, and you would spend less or even nothing in bringing your restaurant back to life. Certainly, that sounds funny. But, it’s actually real.

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Insurance Terminologies

There are certain institutions which offer insurance services to individuals or firms, these institutions are called Insurance Companies. They are also called Insurers. That should definitely ring a bell. Oh, yes! That’s why you’re here.

List of Insurance companies in Nigeria

On the other hand, the individuals or firms which receive insurance services and products are called the Insured.

Before you can begin to receive insurance benefits, you must have been paying a regular fee(either monthly, yearly etc) to your insurance company. This fee is known as a premium.

Therefore, if the unexpected happens, your Insurer will take care of a certain percentage of your loss/expenses.

There is a category of insurance known as Life insurance. To clarify, in Life Insurance, if the Insured dies, then a certain sum of money is paid to the family of the deceased or to a specified individual. This is known as a replacement cost.

However, these insurance products and services cannot be enjoyed by anyone if an agreement is not reached. This agreement is known as an Insurance Contract.

Insurance contract

So, I will give you a list of Insurance Companies in Nigeria, which have been duly registered by the National Insurance Commission (NAICOM).

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List of Insurance Companies in Nigeria 2020

So let’s get down to the business of the day. According to NAICOM, over 50 Insurance Companies have been duly registered, on the 23rd of January, 2020. These registered Insurance Providers spread across five major categories of Insurance. They include;

  1. Life Insurance.
  2. General Insurance.
  3. Composite Insurance.
  4. Reinsurance.
  5. Takaful Insurance.

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Life Insurance Companies in Nigeria

Life Insurance covers the loss of the insured and pays a certain amount to someone or people. This beneficiary must have been designated by the insured from the onset of the contract.

List of Insurance companies in Nigeria

List of Life Insurance Companies in Nigeria, registered by NAICOM as at the 23rd of January, 2020 are;

  1. Assurance and General Insurance Life Assurance.
  2. A.R.M Life PLC.
  3. African Alliance Insurance Company Ltd.
  4. Capital Express Assurance Limited.
  5. Custodian Life Assurance.
  6. FBN Insurance Ltd.
  7. Metropolitan Nigeria Life Assurance Ltd.
  8. Mutual Benefits Life Assurance Ltd.
  9. Old Mutual Nigeria Life Assurance.
  10. Prudential Zenith Life Insurance Company.
  11. Royal Exchange Prudential Life PLC.
  12. Spring Life Assurance PLC.
  13. UNIC Insurance PLC.
  14. Wapic Life Assurance Ltd.

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General Insurance Companies in Nigeria

This is also known as non-life Insurance. In general Insurance, your insurer provides protection for your valuables like your car, home, land, office, etc and any other thing that isn’t under Life Insurance.

The insurance Companies which provide only General Insurance services and products in Nigeria include;

  1. Alliance & General Insurance Company Ltd.
  2. Anchor Insurance.
  3. Consolidated Hallmark Insurance.
  4. Custodian and Allied Insurance.
  5. FBN General Insurance.
  6. Fin Insurance.
  7. Guinea Insurance.
  8. International Energy Insurance.
  9. Investment & Allied Insurance.
  10. KBL Insurance.
  11. law Union & Rock Insurance.
  12. Linkage Insurance.
  13. Mutual Benefits Assurance.
  14. NEM Insurance.
  15. Nigerian Agricultural Insurance Corporation.
  16. Old Mutual Nigeria General Insurance.
  17. Prestige Assurance.
  18. Regency Alliance Insurance.
  19. Royal Exchange General Insurance.
  20. Sahara Unitrust Insurance.
  21. Sovereign Trust Insurance.
  22. STACO Insurance.
  23. Sterling Assurance.
  24. SUNA Assurance.
  25. Universal Insurance.
  26. Veritas Kapital.
  27. Wapic Insurance.
  28. Zenith General Insurance.

Composite Insurance

Composite Insurance provides both Life and Non life Insurance products and services. They include;

  1. AIICO Insurance PLC.
  2. Allianz Nigeria Insurance PLC.
  3. AXA Nigeria Insurance PLC.
  4. Cornerstone Insurance PLC.
  5. Gold Link Insurance.
  6. Great Nigeria Insurance.
  7. Industrial & General Insurance.
  8. Lasaco Assurance Company Ltd.
  9. Lead way Assurance Company.
  10. NICON Industrial PLC.
  11. Niger Insurance PLC.
  12. NSIA Insurance Ltd.
  13. Standard Alliance Insurance PLC.

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Reinsurance Companies in Nigeria

Certainly, everyone needs insurance! Most importantly, your insurers need insurance just in case of the unexpected. Reinsurance is insurance contract that an insurance company signs with another Insurance company to help shield itself from unexpected future blows.


Only two of these companies are presently registered wit the National Insurance Commission. They are;

  1. Continental Reinsurance.
  2. Nigeria Reinsurance Corporation.

Takaful Insurance

Takaful Insurance is an Islamic type of Insurance in which religious members pay a certain due at a specified period of time, to help cover one another’s losses.

This type of insurance is usually backed by Sharia Law. It is in other words called a cooperative Insurance. They include;

  1. Jaiz Takaful Insurance PLC.
  2. Noor Takaful PLC.

In conclusion, Seeing this list of Insurance Companies in Nigeria, I believe it is high time you got your own Insurance agreement. Also, It doesn’t cost too much. Moreover, We all know the future can’t be predicted. So it’s better to prepare well for it.

Did you enjoy this article and wish to share it with others? If yes, then go ahead. It is absolutely free to share it.

Need more Insurance updates? Feel free to subscribe to our newsletter or leave a message in the comment section below and be the first to receive them. Note: We won’t ask you to pay a dime. Thanks.

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Top Lists

Best Forex Trading Apps in Nigeria | Top 5 For Android & iOS in 2020



This post will give you a list of the best Forex trading apps in the Nigeira. The list contains 5 platforms which are considered the best in the industry.

Are you looking for a suitable and comfortable platform to trade the foreign exchange market? If yes, then you are in the right place.

As we all know, the foreign exchange market is a financial market where variety of instruments are exchanged for one another. In the case of currency exchange, a currency is bought, and another one is simultaneously sold.

The major problem traders have is that, they find it difficult to identity the best platforms to trade their assets and thereby make repeated losses.

This prompted us to give you a list of mobile trading apps with the tightest spreads, comfortable trading conditions, and very little or no commission.

Therefore, if you are a trader or an aspiring trader and you do not know the best platform to trade financial instruments, keep reading this post and make your choice from the list.

Best Forex Trading Apps For Android & iOS Device

5. LiteForex

LiteForex trading platform provides users with a friendly interface for trading in financial markets. The app allows users to trade the Forex, crypto, and stock markets on-the-go.

Best Forex trading apps

The high tech Forex app permits users to also copy the trades of most successful traders and also receive additional revenue for copying. It is one of the best Forex trading apps.

All you have to do is to install the Forex app on your phone, and you will get access to variety of methods for trading financial markets.


  • Free demo account for trading simulation
  • Over 150 trading instruments
  • Latest Forex volatility charts
  • Availability of different payment options
  • Graphical and technical analysis tools

How to download the LiteForex App

  1. Go to the app store of your Android or iOS device. Click here to download it directly from the google play store.
  2. Search for “LiteForex”.
  3. Click on “install”, and wait for the process to begin and end.

4. FXTM Trader

This particular trading platform is highly recommended for Nigerian traders who wish to deposit their funds in Naira(NGN). You also get to trade over 250 financial instruments which include FX, indices, commodities, equities and Cryptos.

Best Forex trading apps

The Forex Time (FXTM) trading app allows users to access all trading accounts in one place. Also you can browse real time currency rates and up-to-the minute charts anytime, anywhere.


  • Trade over 250 financial instruments on your mobile device
  • A new demo account after registration
  • Very low minimum deposit
  • Very tight/little spreads
  • Swift trade execution
  • Detailed trading dashboard
  • Symbol specifications
  • Payment in Naira(for Nigerians).

How to download the FXTM Trader app.

  1. Go to the app store of your Android or iOS device. Click here to download it directly from the google play store.
  2. Search for “FXTM”.
  3. Start downloading and wait for the process to finish up.

3. FxPro CTrader

Trade the world’s financial markets online with the FxPro CTrader, which brings  a stunning trading platform to your mobile. Financial instruments like FX, indices, metals, energies are traded on the app.

Best Forex trading apps

The app has attractive spreads from as low as 0 pip on FX majors, like the EUR/USD pair. Over 100 CFD instruments are available to trade on the platform. Experience ultra-fast execution and very competitive pricing offered on FX Pro.


  • Advanced charting tools
  • 5 types of charts
  • 26 time frames
  • 57 technical indicators
  • Single tap order execution
  • Over 20 languages available
  • Regular delivery of financial market news
  • Detailed and informative trade history
  • Fibonacci Retracement.

How to download the FxPro App

  1. Go to the app store of your device. Click here if you are using an android device.
  2. Search for “FxPro CTrader”.
  3. Tap “install” and patiently wait for the process to complete.

2. Meta Trader 4

The Meta Trader 4 Forex trading app was created and developed by the Meta Quotes Software corp.

The app was designed to help you as a trader to control your trading account, trade and also analyze the Forex market using indicators and other graphical objects.


MT4 gives you access to trade the Forex market by selecting from its hundreds of brokers and thousands of servers. Sounds good right? Certainly, it does!

Now let’s go into the features of this MT4 app and know its capability.


  • Realtime quotes of the Forex market
  • All the types of market orders/execution
  • Detailed trading history
  • Customizable chart schemes
  • Free financial news
  • Connect with over 100 Forex brokers
  • Free demo account for trading simulation

Technical Analysis:

  • Real time charts with zoom and scroll options
  • 30 of the most efficient technical indicators
  • 9 time frames
  • 3 types of charts
  • 24 analytical objects

How to download MT4 mobile app.

  1. Visit the app store of your mobile device(android or iOS). Click here to download it if you are using an android device.
  2. Search for MT4 app
  3. Download and wait for the installation process to complete.

1. Meta Trader 5

The Meta Trader 5 app is so far the best platform to trade the Foreign Exchange Market.

Moreover, asides from trading the Forex market, the MT5 app allows you to trade other financial instruments like CFDs, futures, options and stocks. Also, you get access to trade via your mobile phone or tablet!


This platform allows traders connect to brokers’ servers, receive currency quotes, and financial markets ananlysis making use of real time charts and a variety of technical indicators.

In addition, it is absolutely free to download and make use of. That is, you don’t have to pay to start using the MT5 platform to trade financial instruments. Also, you get to receive financial news on a regular basis for free!

You can make use of this app anywhere in the world. It is available for download on the Google Play and iOS store. Let’s take a look at the features of the MT5 trading app.


  • Real time Forex and stock market quotes
  • All types of trade execution/order
  • Level II prices with up to 32 quotes
  • Detailed trading history
  • Customizable markets chart color schemes
  • Regular financial reports/news
  • Up to 100 Forex/stock brokers
  • Chat with other traders using the platform
  • Free demo account to simulate trading

Technical Analysis:

  • 9 time frames
  • 3 types of charts(lines, bars, and candlestick)
  • 24 analytical objects
  • Zoom and scroll options and charts
  • 30 most popular/efficient indicators
  • Open, close and modify your trade position

How to download the MT5 mobile app

  1. Visit the app store of your mobile device(android or iOS). Click here if you are using an android device.
  2. Search for MT5 app
  3. Download and wait for the installation process to complete.


In conclusion, the above platforms have come into our list of the best Forex trading apps in nigeria, based on a survey we have conducted. You are advised to make further enquiries before making use of them.

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