This is the list of banks in Nigeria, the most populated country in Africa and also the most populated country with black people. This made it to often be referred to as the giant of Africa. We are here to show you the number of banks located in this popular country.
The country used to have many banks but the Federal Government decided to set a standard after several banks continue to shut down. The standard was 25 billion naira minimum capital base set for all commercial banks which made most of them merge or close down. The list we are about to show you will be divided into commercial, non-interest, and merchant banks.
List of banks in Nigeria
Commercial banks with International Authorization in Nigeria
This is a popular bank in Nigeria and it acquired a license from Central Bank of Nigeria (CBN) in 1989. They recently acquired Diamond Bank recently and also acquired Intercontinental Bank in 2012.
Another well known commercial bank in Nigeria with international authorization license by the Central Bank of Nigeria (CBN). It is ranked as one of Nigeria’s most capitalized banks.
Known by many as FCMB which is the acronym of First City Monument Bank, is a famous bank in Nigeria. With an International license in Nigeria, this establishment once had assets that were valued at US$$3.65 billion (₦593.3 billion) back in 2011.
Just as the name suggests, First Bank has always been there for a very long time. As of December 2015, the bank had an asset totaling ₦3.9 trillion. It has an international license and from 2011 to 2015 it was named “The Best Bank Brand in Nigeria”.
Many know this bank with acronym GTB. Being one of the most popular banks in Nigeria, it is also a multinational financial institution. Their services are spectacular, they offer Online/Internet Banking, Retail Banking, Corporate Banking, Investment Banking and many more.
Also a commercial bank in Nigeria, this bank has an international license. They have always been there and currently offers many services to its customers.
United Bank for Africa (UBA) Plc was founded in 1945 with its operational base in over 20 African countries. It’s one of the leading pan-African financial services group with headquarters located in Nigeria.
Another great bank in the list is Zenith Bank. Founded in 1990, it is licensed as a commercial bank by the Central Bank of Nigeria (CBN) and is known as one of the top banks in the country.
Now that we are done with banks with international authorization in Nigeria, let’s take a look at the next phase.
Commercial banks with National Authorization in Nigeria
This bank has been there for many years since 1812. It is a consumer division of financial services multinational organization known as Citigroup. They offer many services which include; credit cards, mortgages, personal loans, and commercial loans.
We can’t finish this list without mentioning Eco Bank Nigeria which as founded in 1986. It fell under banks with a national authorization from the Central Bank of Nigeria.
In December 2015, Heritage Bank had assets totaling a value of over US$1.7 billion (₦483.4 billion). This makes it also stand out as one of the giants in the banking industry.
With national authorization from the Central Bank of Nigeria, this bank made our 360Listhub list. Since it came out, this financial organization has grown to a much large standard with branches all over the country.
Previously known as Skye Bank, it is a commercial financial institution licensed by the Central Bank of Nigeria. The name came to be from 2018 after the license of Skye Bank was revoked.
A South African bank under the Standard Bank Group have its branch in Nigeria. They have subsidiaries in banking, stock brokerage, investment advisory, and pension.
A multinational financial institution that operates as a commercial bank in Nigeria. It has national authorization licensing issued by the Central Bank of Nigeria.
Founded on 25 November 1960, it is a national commercial bank licensed by the Central Bank of Nigeria. With its headquarters in Lagos state, this bank has gone to make its mark in the Nigerian financial world.
A fully functional national commercial bank in Nigeria. Founded in 2006, with over 2000 employees Unity bank had total assets of US$2.45 billion (₦396 billion) back in 2013.
A commercial bank in Nigeria with a national license from Central Bank of Nigeria. It was founded on 2 May 1945 and has over 1,000 employees.
This is the list of banks in Nigeria, we will update it as soon as more banks spring up.