The Central Bank of Nigeria has unveiled a comprehensive roster of licensed Deposit Money Banks currently operating within the country, shedding light on the banking landscape in Nigeria.
The list, which was publicly disclosed on the CBN’s official website on Tuesday, provides valuable insights into the various players in the Nigerian banking sector.
Among the banks with international authorization featured on the list are Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc. These institutions play pivotal roles in facilitating both domestic and international financial transactions.
Commercial banks with national authorization also form a significant part of Nigeria’s banking ecosystem. They include Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited, and Optimus Bank Limited. These banks cater to the diverse financial needs of individuals and businesses across the nation.
Additionally, the list encompasses commercial banks with regional licenses, such as Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited. These institutions focus on serving specific regions within Nigeria, contributing to localized economic development.
In the non-interest banking sector, players with national authorization include Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited. These banks adhere to Islamic banking principles and offer Sharia-compliant financial products and services.
Furthermore, the list features merchant banks, including Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited. These institutions specialize in providing financial services to corporate clients and institutional investors.
The roster also includes financial holding companies, such as Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited. These holding companies oversee multiple subsidiaries within the financial sector, offering a wide range of financial services.
Lastly, the Mauritius Commercial Bank Representative Office (Nigeria) Limited is listed as the sole representative office, serving as a liaison between the Mauritius Commercial Bank and its Nigerian stakeholders.
The release of this comprehensive list underscores the CBN’s commitment to promoting transparency and accountability within Nigeria’s banking industry, providing stakeholders with valuable information to make informed decisions.
