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List of 25 Banks In Nigeria and their Functions

In looking at the list of banks in Nigeria, I will be taking into consideration the commercial banks with international authorization, and national authorization, and regional authorization, and also non-interest banks, as well as merchant banks in Nigeria.

List Of Commercial Banks The Have International Authorization in Nigeria:

Read Also: 34 Mortgage banks in Nigeria licensed by CBN and their Addresses

List of 25 Banks In Nigeria and their Functions
Banks In Nigeria – Photo Source: https://govandbusinessjournal.com.ng

1. Access Bank Plc

-Access Bank plc is a commercial bank, and it is multinational, owned by organization called, Access Bank Group. It gotten its  license from thr Central Bank of Nigeria (CBN), that was in 1989 and it began to feature in the Nigerian Stock Exchange since the year, 1998. It acquired former Intercontinental Bank in 2012.

2. Diamond Bank Plc

Diamond Bank actually started sometimes, as a private limited liability company in 1991 after its registration in 1990, and after that, became a universal bank in 2001, and was listed on The Nigerian Stock Exchange in May 2005.

Read Also: List of 882 CBN Licensed Microfinance Banks in Nigeria and Addresses

3. Fidelity Bank Plc

Fidelity Bank is a commercial bank in Nigeria, and has acquired licensed with international authorization by the Nigerian apex bank, the Central Bank of Nigeria (CBN).. Its International Banking License was gotten in  2011.

4. First City Monument Bank Plc

First City Monument Bank (FCMB) Ltd is a full fledged service banking group. It obtains International licensing in Nigeria.

5. First Bank of Nigeria Limited

First Bank of Nigeria is another Nigerian bank, and has gotten its International licensing.

6. Guaranty Trust Bank Plc

Guaranty Trust Bank plc is a Nigerian-based bank, and it is multinational financial institution. It offers Online/Internet Banking, and Retail Banking, and Corporate Banking, and Investment Banking, and Asset Management services among other services.

7. Union Bank of Nigeria Plc

Union Bank of Nigeria Plc is another commercial bank in Nigeria which has been issuing international licensing.

8. United Bank for Africa Plc

United Bank for Africa (UBA) Plc is known as the leading pan-African financial services group which has headquarters in Nigeria, was founded in 1945.

9. Zenith Bank Plc

Zenith Bank is a commercial bank in Nigeria, and one of the multinational financial services providers. It was founded in May 1990, with. headquarters in Nigeria. The bank was licensed as a commercial bank by the apex bank, the Central Bank of Nigeria (CBN), and the national banking regulator.

Read Also: 6 Roles Of Banking In Nigeria Economy

List of commercial banks That Have National Authorization in Nigeria

10. Citi Bank Nigeria Limited:

Citibank was founded in 1812. Its services include provision of credit cards, and mortgages, and personal loans, and commercial loans, and it is a consumer division of financial services multinational organization.

11. Ecobank Nigeria Plc

Ecobank Nigeria Plc is broadly knoen as Ecobank Nigeria, and it is a commercial bank in Nigeria, which was established in 1986.

12. Heritage Banking Company Limited

Heritage Bank Plc. (HB PLC) is a commercial banks, and was licensed by the Central Bank of Nigeria (CBN), and has National Authorization.

13. Keystone Bank Limited

Keystone Bank Limited is another commercial banks, and was licensed by the Central Bank of Nigeria, it also serves as the national banking regulator.

14. Polaris Bank Limited (Formerly Skye Bank Plc)

Polaris Bank is a commercial bank in Nigeria, previously Skye bank. The bank was licensed by the Central Bank of Nigeria, which is the country’s banking regulator.

15. Stanbic IBTC Bank Plc

Stanbic IBTC Bank is one of the financial service holding companies in Nigeria, and has subsidiaries in banking, and stock brokerage, and investment advisory, and pension, among others.

16. Standard Chartered

Standard Chartered is a multi-national financial institution, and it is presently serves as a commercial bank in -Nigeria.

Read Also: The Role of Microfinance Banks in Poverty Reduction in Nigeria

17. Sterling Bank Plc

Sterling Bank Plc is a commercial bank, which was licensed by the Central Bank of Nigeria.

18. Unity Bank Plc

Unity Bank is a commercial bank in Nigeria, with the Central Bank of Nigeria CBN license.

19. Wema Bank Plc

Wema Bank Plc is a licensed national commercial bank in Nigeria, and was by the Central Bank of Nigeria CBN.

List of commercial banks That Have Regional Authorization in Nigeria

20. SunTrust Bank Nigeria Limited

SunTrust Bank Nigeria Limited (STBNL) is a commercial bank in Nigeria, currently licensed as a commercial bank with regional authorization.

21. Providus Bank Limited

ProvidusBank is a commercial bank that offers customized business solutions and also advanced products that tend to meet business and personal needs.

List of non-interest banks in Nigeria

22. Jaiz Bank Plc

Jaiz Bank Plc, is the only operational non-interest bank, and it is the only one in Nigeria, with Central Bank of Nigeria licensing.

List of merchant banks in Nigeria

22. Coronation Merchant Bank

Coronation Merchant Bank is one of the Nigerian banks, and it is an investment bank which also provides innovative, and long-term financial solutions to corporations, and state governments as well as, other financial services organizations.

The product it offers include corporate banking, and investment banking, and wealth management, and asset as well as,fund management, and global markets, and securities trading plus trust services.

Read Also: The role of World Bank in the Nigerian economy

23. FBNQuest Merchant Bank

FBNQuest is a merchant banks in Nigeria. This is the unified brand name for every Merchant Banking and Asset Management business of FBN Holdings Plc.

24. Rand Merchant Bank

Rand Merchant Bank is based in South African, a financial institution that provides needs in areas of investment banking, and fund management,  and private wealth management as well as, advisory services.

25. Nova Merchant Bank

Nova Merchant bank is a Merchant Banks in Nigeria, recently licensed with a focus on wholesale and investment banking. The financial services it covers include Corporate Banking, and Investment Banking, among other services.

Conclusion

The above are the list of banks in Nigeria.

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Joseph Athanasius

Joseph Athanasius is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

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