Commercial banks in Nigeria (Deposit Money Banks) operate under seven different categories of banking licences issued by the Central Bank of Nigeria (CBN).
They are:
Table of Contents
Commercial banking licence with international authorization
- Access Bank Limited
- First City Monument Bank Limited
- Fidelity Bank Plc
- Guaranty Trust Bank Limited
- First Bank Nigeria Limited
- United Bank Of Africa Plc
- Zenith Bank Plc
Commercial banking licence with national authorization
- Citibank Nigeria Limited
- Ecobank Nigeria Limited
- Standard Chartered Bank Limited
- Heritage Bank Plc
- Stanbic IBTC Bank Limited
- Wema Bank Plc
- Sterling Bank Limited
- Globus Bank Limited
- Titan Trust Bank Limited
- Keystone Bank Limited
- Union Bank Of Nigeria Plc
- Polaris Bank Limited
- Premium Trust Bank Limited
- Optimus Bank Limited
- Unity Bank Plc
Commercial banking licence with regional authorization
- Providus Bank Limited
- Signature Bank Limited
- Suntrust Bank Nigeria Limited
- Parallex Bank Limited
Non-interest banking licence with national authorization
- Jaiz Bank Plc
- TAJ Bank Limited
- LOTUS Bank Limited
- Alternative Bank Limited
Merchant banking licence with national authorization
- Coronation Merchant Bank Limited
- FBN Merchant Bank Limited
- FSDH Merchant Bank Limited
- Greenwich Merchant Bank Limited
- Nova Merchant Bank Limited
- Rand Merchant Bank Limited
Financial holding companies
- Access Holdings Plc
- Guaranty Trust Holding Company Plc
- FBN Holdings Plc
- Stanbic IBTC Holdings Plc
- FCMB Group Plc
- Sterling Financial Holdings Limited
- FSDH Holding Company Limited
Representative Office
- The Mauritius Commercial Bank Representative Office(Nigeria) Limited
Classifications
Nigerian banks are classified into eight:
- Commercial,
- Merchant,
- Microfinance,
- Mobile money operators,
- Non-interest,
- Non-interest window,
- Payment service, and
- Primary mortgage.
All the aforementioned financial institutions are insured by the Nigeria Deposit Insurance Corporation (NDIC), meaning depositor’s money are safe and secured.
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