Following the official entry of Signature and Optimus banks into the Nigerian commercial banking space in November 2022 and January 2023 respectively, the list of commercial banks in Nigeria in 2024 has now swelled to 26, a figure confirmed by the Central Bank of Nigeria on May 7, 2024.
The banks are listed below in alphabetical order.
2024 list of commercial banks in Nigeria
- Access Bank Plc
- Citibank Nigeria Limited
- Ecobank Nigeria Plc
- Fidelity Bank Plc
- First Bank Nigeria Limited
- First City Monument Bank Plc
- Globus Bank Limited
- Guaranty Trust Bank Plc
- Heritage Banking Company Ltd.
- Keystone Bank Limited
- Optimus Bank
- Parallex Bank Ltd
- Polaris Bank Plc
- Premium Trust Bank
- Providus Bank
- Signature Bank Limited
- Stanbic IBTC Bank Plc
- Standard Chartered Bank Nigeria Ltd.
- Sterling Bank Plc
- SunTrust Bank Nigeria Limited
- Titan Trust Bank Plc
- Union Bank of Nigeria Plc
- United Bank for Africa Plc
- Unity Bank Plc
- Wema Bank Plc
- Zenith Bank Plc
The publication of this list followed a circular that had earlier been issued by the apex bank to the commercial banks, notifying them of an upward review of the Minimum Capital Requirements, which is as follows:
- Commercial banks with International Authorization: N500 billion
- Commercial banks with National Authorization : N200 billion
- Commercial banks with Regional Authorization: N50 billion
There are a lot or conflicting lists out there… thanks for this!