CBN releases list of licensed deposit money banks in Nigeria

by Editor4
41 views 2 minutes read

The Central Bank of Nigeria (CBN) has published a comprehensive list of licensed Deposit Money Banks operating across the country, providing valuable insights into Nigeriaโ€™s dynamic banking sector.

The list, released on the CBNโ€™s official website on Tuesday, is categorised by the types of licenses held by each institution.

LEADERSHIP gives a breakdown of the Nigerian banking landscape as released by the apex bank below:

1. Banks with International Authorisation:

โ€“ Access Bank Limited

โ€“ Fidelity Bank Plc

โ€“ First City Monument Bank Limited

โ€“ First Bank Nigeria Limited

โ€“ Guaranty Trust Bank Limited

โ€“ United Bank for Africa Plc

โ€“ Zenith Bank Plc

These banks operate beyond Nigeriaโ€™s borders thereby showcasing the international reach of the nationโ€™s financial sector.

2. Banks with National Authorisation:

โ€“ Citibank Nigeria Limited

โ€“ Ecobank Nigeria Limited

โ€“ Heritage Bank Plc

โ€“ Globus Bank Limited

โ€“ Keystone Bank Limited

โ€“ Polaris Bank Limited

โ€“ Stanbic IBTC Bank Limited

โ€“ Standard Chartered Bank Limited

โ€“ Sterling Bank Limited

โ€“ Titan Trust Bank Limited

โ€“ Union Bank of Nigeria Plc

โ€“ Unity Bank Plc

โ€“ Wema Bank Plc

โ€“ Premium Trust Bank Limited

โ€“ Optimus Bank Limited

Banks in this category are authorised to provide banking services nationwide.

3. Banks with Regional Licenses:

โ€“ Providus Bank Limited

โ€“ Parallex Bank Limited

โ€“ Suntrust Bank Nigeria Limited

โ€“ Signature Bank Limited

Regional banks offer services within specific regions of Nigeria.

4. Non-Interest Banks with National Authorisation:

โ€“ Jaiz Bank Plc

โ€“ Taj Bank Limited

โ€“ Lotus Bank Limited

โ€“ Alternative Bank Limited

These banks provide non-interest banking services, catering to the

diverse needs of customers.

5. Merchant Banks:

โ€“ Coronation Merchant Bank Limited

โ€“ FBN Merchant Bank Limited

โ€“ FSDH Merchant Bank Limited

โ€“ Greenwich Merchant Bank Limited

โ€“ Nova Merchant Bank Limited

โ€“ Rand Merchant Bank Limited

Merchant banks focus on investment banking and related services.

6. Financial Holding Companies:

โ€“ Access Holdings Plc

โ€“ FBN Holdings Plc

โ€“ FCMB Group Plc

โ€“ FSDH Holding Company Limited

โ€“ Guaranty Trust Holding Company Plc

โ€“ Stanbic IBTC Holdings Plc

โ€“ Sterling Financial Holdings Limited

These companies control multiple financial subsidiaries, expanding their influence across various financial services.

7. Representative Office:

โ€“ The Mauritius Commercial Bank Representative Office (Nigeria) Limited

The sole representative office provides a liaison point for The Mauritius Commercial Bank. (Leadership)

You may also like

Leave a Comment

Adblock Detected

Please support us by disabling your AdBlocker extension from your browsers for our website.