List Of Banks In Nigeria: CBN Approved Banks

Bank Codes In Nigeria

The Nigerian banking Ecosystem has seen a lot of changes in recent times. Nigeria boasts of some of the biggest banks in Africa with some operating even beyond the African continent. In this brief article, I will be showing you the list of banks in Nigeria as approved by the central bank of Nigeria.

List Of Banks In Nigeria

The central bank of Nigeria (CBN) is the apex bank in Nigeria. It is the bank that grants an operational license to other banks and financial institutions in Nigeria.

There are many types of banks operating in Nigeria today. These range from commercial banks with various authorization levels to Non-interest banks as well as Merchant banks.

Some of the commercial banks in Nigeria have an international authorization, while others have only national or regional authorization respectively.

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Full List Of CBN-Approved Banks in Nigeria

Below is a full list of banks in Nigeria as at the time of this publication.

1. Access Bank Plc

2. Fidelity Bank Plc

3. First City Monument Bank Limited

4. First Bank of Nigeria Limited

5. Guaranty Trust Bank Plc

6. Union Bank of Nigeria Plc

7. United Bank for Africa Plc

8. Zenith Bank Plc

9. Citibank Nigeria Limited

10. Ecobank Nigeria Plc

11. Heritage Banking Company Limited

12. Keystone Bank Limited

13. Polaris Bank Limited. The successor to Skye Bank Plc

14. Stanbic IBTC Bank Plc

15. Standard Chartered

16. Sterling Bank Plc

17. Titan Trust Bank Limited

18. Unity Bank Plc

19. Wema Bank Plc

20. Globus Bank Limited

21. SunTrust Bank Nigeria Limited

22. Providus Bank Limited

23. Jaiz Bank Plc

24. TAJBank Limited

25. Coronation Merchant Bank

26. FBNQuest Merchant Bank

27. FSDH Merchant Bank

28. Rand Merchant Bank

29. Nova Merchant Bank

List Of Commercial Banks in Nigeria

1. Access Bank Plc

2. Fidelity Bank Plc

3. First City Monument Bank Limited

4. First Bank of Nigeria Limited

5. Guaranty Trust Bank Plc

6. Union Bank of Nigeria Plc

7. United Bank for Africa Plc

8. Zenith Bank Plc

9. Citibank Nigeria Limited

10. Ecobank Nigeria Plc

11. Heritage Banking Company Limited

12. Keystone Bank Limited

13. Polaris Bank Limited

14. Stanbic IBTC Bank Plc

15. Standard Chartered

16. Sterling Bank Plc

17. Titan Trust Bank Limited

18. Unity Bank Plc

19. Wema Bank Plc

20. Globus Bank Limited

21. SunTrust Bank Nigeria Limited

22. Providus Bank Limited

As I stated earlier, all the commercial banks in Nigeria do not have equal functional authorization. Below, we are going to see which commercial banks in Nigeria has international authorization, national authorization and regional authorization respectively.

List of Commercial Banks in Nigeria with International Authorization

Out of the 22 commercial banks listed above, there are only 8 banks with international authorization in Nigeria. These are:

1. Access Bank Plc

2. Fidelity Bank Plc

3. First City Monument Bank Limited

4. First Bank of Nigeria Limited

5. Guaranty Trust Bank Plc

6. Union Bank of Nigeria Plc

7. United Bank for Africa Plc

8. Zenith Bank Plc

List of Commercial Banks in Nigeria with National Authorization

A total of 11 commercial banks in Nigeria are licensed by the CBN to operate only within the country for now. These banks are unable to spread overseas like those with international authorization listed above. These Banks with only national authorization are:

1. Citibank Nigeria Limited

2. Ecobank Nigeria Plc

3. Heritage Banking Company Limited

4. Keystone Bank Limited

5. Polaris Bank Limited

6. Stanbic IBTC Bank Plc

7. Standard Chartered

8. Sterling Bank Plc

9. Titan Trust Bank Limited

10. Unity Bank Plc

11. Wema Bank Plc

List of Commercial Banks in Nigeria With Regional Authorization

Three commercial banks in Nigeria are approved for only regional operations. Their license is such that they are unable to spread to every part of Nigeria. The Commercial banks in Nigeria with regional authorization include:

1. Globus Bank Limited

2. SunTrust Bank Nigeria Limited

3. Providus Bank Limited

List Of Merchant Banks in Nigeria

There is a total of 5 merchant banks in Nigeria as at the time of this publication. These include;

1. Coronation Merchant Bank

2. FBNQuest Merchant Bank

3. FSDH Merchant Bank

4. Rand Merchant Bank

5. Nova Merchant Bank

List Of Non-interest Banks in Nigeria

As at now, there are only two non-interest banks listed for operation in Nigeria by the Central Bank of Nigeria. The non-interest banks in Nigeria are;

1. Jaiz Bank Plc

2. TAJBank Limited

NOTE: The list of Banks in Nigeria given above is comprehensive as at the time of publication of this article. We will be updating it from time to time as the need arises.

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