CBN Releases List Of Licensed, Recognised Banks In Nigeria

The Central Bank of Nigeria (CBN) on Tuesday, May 7, 2024 released a comprehensive list of 44 licensed Depositc Money Banks permitted to operate in the country.

According to the CBN in a post on its verified X handle, seven banks – Zenith Bank, Access Bank, First Bank, First City Monument Bank, United Bank of Africa, Fidelity, and Guaranty Trust Bank – have commercial banking licenses with international authorisation.

It disclosed that 15 banks have commercial banking licenses with national authorization, while four banks have commercial banking licenses with regional authorisation and four non-interest banks have national authorisation.

The CBN further said that the country has six merchant banks licensed with national authorization, while the number of financial holding companies is seven and the country has a Mauritius commercial bank representative office.

Banks with international authorisation

1. Access Bank Limited,
2. Fidelity Bank Plc,
3. First City Monument Bank Limited,
4. First Bank Nigeria Limited,
5. Guaranty Trust Bank Limited,
6. United Bank of Africa Plc, and
7. Zenith Bank Plc.

Commercial banks with national authorisation

1. Citibank Nigeria Limited,
2. Ecobank Nigeria Limited,
3. Heritage Bank Plc,
4. Globus Bank Limited,
5. Keystone Bank Limited,
6. Polaris Bank Limited,
7. Stanbic IBTC Bank Limited,
8. Standard Chartered Bank Limited,
9. Sterling Bank Limited,
10. Titan Trust Bank Limited,
11. Union Bank of Nigeria Plc,
12. Unity Bank Plc,
13. Wema Bank Plc,
14. Premium Trust Bank Limited and
15. Optimus Bank Limited.

Commercial banks with regional licenses:

1. Providus Bank Limited,
2. Parallex Bank Limited,
3. Suntrust Bank Nigeria Limited, and
4. Signature Bank Limited.

Non-interest banks with national authorisation

1. Jaiz Bank Plc,
2. Taj Bank Limited,
3. Lotus Bank Limited, and
4. Alternative Bank Limited.

Marchant banks with National Authorization

1. Coronation Merchant Bank Limited,
2. FBN Merchant Bank Limited,
3. FSDH Merchant Bank Limited,
4. Greenwich Merchant Bank Limited,
5. Nova Merchant Bank Limited, and
6. Rand Merchant Bank Limited.

Financial holding companies

1. Access Holdings Plc,
2. FBN Holdings Plc,
3. FCMB Group Plc,
4. FSDH Holding Company Limited,
5. Guaranty Trust Holding Company Plc,
6. Stanbic IBTC Holdings Plc, and
7. Sterling Financial Holdings Limited.

Bank Representative Office

1. Mauritius Commercial Bank Representative Office (Nigeria) Limited