Nigeria's Licensed Deposit Money Banks List Is Released by CBN

An extensive list of authorized Deposit Money Banks operating all over Nigeria has been released by the Central Bank of Nigeria (CBN), offering insightful information about the country's vibrant banking industry.

The list is arranged according to the kinds of licenses that each institution possesses and was made public on the CBN's official website on Tuesday.

Below, LEADERSHIP provides a summary of the Nigerian banking environment as disclosed by the central bank:

1. Banks having international authorization include

First City Monument Bank Limited,

Access Bank Limited,

Fidelity Bank Plc, and

First Bank Nigeria Limited.

Zenith Bank Plc,

United Bank for Africa Plc, and

Guaranty Trust Bank Limited

These banks demonstrate the global reach of Nigeria's financial sector by operating outside of its borders.

2. Financial Institutions Using National Authorization

- Nigerian Citibank Corporation

- Nigerian Ecobank

- Standard Chartered Bank Limited - Heritage Bank Plc

- Globus Bank Limited

- Keystone Bank Limited

- Polaris Bank Limited

- Stanbic IBTC Bank Limited

- Sterling Bank Limited

Titan Trust Bank Limited;

Unity Bank Plc;

Wema Bank Plc;

Premium Trust Bank Limited;

Optimus Bank Limited;

Union Bank of Nigeria Plc

This type of banks is permitted to offer banking services across the country.

3. Regionally Licensed Banks:

- Parallex Bank Limited

Providus Bank Limited

- Signature Bank Limited

- Suntrust Bank Nigeria Limited

Within particular regions of Nigeria, regional banks provide services.

4. Nationally Authorized Non-Interest Banks:

- Lotus Bank Limited

- Jaiz Bank Plc

- Taj Bank Limited

- Alternative Bank Limited

These banks serve a variety of consumer needs by offering non-interest banking services.

5. Retailer banks:

Greenwich Merchant Bank Limited, Coronation Merchant Bank Limited,

FBN Merchant Bank Limited,

FSDH Merchant Bank Limited,

Nova Merchant Bank Limited, and

Rand Merchant Bank Limited

Investment banking and related services are the main emphasis of merchant banks.

6. Financial Holding Companies:

FSDH Holding Company Limited,

FCMB Group Plc,

Access Holdings Plc, and

FBN Holdings Plc

- Sterling Financial Holdings Limited - Guaranty Trust Holding Company Plc - Stanbic IBTC Holdings Plc

These businesses oversee numerous financial subsidiaries, which increases their sway over a range of financial services.

7. Representative Office:

The Representative Office of the Mauritius Commercial Bank (Nigeria) Limited

The Mauritius Commercial Bank has a liaison point in the single representative office.

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