The Central Bank of Nigeria has released a list containing 44 licensed deposit money banks in the country. This disclosure was made through a list published on the CBN’s official website on Tuesday.
As of April 26, 2024, seven banks, namely Zenith Bank, Access Bank, First Bank, First City Monument Bank, United Bank of Africa, Fidelity, and Guaranty Trust Bank, hold Commercial Banking licenses with international authorization.
Additionally, fifteen banks possess commercial banking licenses with National Authorization, while four banks have commercial banking licenses with regional authorization. Furthermore, there are four non-interest banks with national authorization.
The CBN also revealed that the country has six merchant banks operating with national authorization. Moreover, the number of financial holding companies has increased to seven.
In addition to these, there is a representative office of a Mauritius commercial bank in the country.
This list follows the CBN’s decision to raise the minimum capital requirement for all banks in Nigeria, aimed at bolstering the resilience of the country’s financial sector.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
