Licensed Banks in Nigeria

The Central Bank of Nigeria (CBN) regulates the banking industry in Nigeria. The CBN has six license categories as follows:

1. Commercial banks (CBs).

2. Merchant banks (MBs).

3. Non-interest banks (NIBs).

4. Primary Mortgage Banks (PMBs).

5. Payment Service Banks (PSBs).

6. Micro-finance Banks (MFBs).

The CBN licensed 785 banks under the different categories as of August 2023 as follows:

Commercial Banks

• Access Bank Plc

• Citibank Nigeria Limited

• Ecobank Nigeria Plc

• First City Monument Bank Plc

• Globus Bank Limited

• Guaranty Trust Bank Plc

• Heritage Banking Company Ltd.

• Keystone Bank Limited

• Parallex Bank Ltd

• Polaris Bank Plc

• Premium Trust Bank

• Providus Bank

• Stanbic Ibtc Bank Plc

• Standard Chartered Bank Nigeria Ltd.

• Sterling Bank Plc

• Suntrust Bank Nigeria Limited

• Titan Trust Bank Ltd

• Union Bank of Nigeria Plc

• United Bank for Africa Plc

• Unity Bank Plc

• Wema Bank Plc

• Zenith Bank Plc

Merchant Banks

Non-Interest Banks

Primary Mortgage Institutions

Payment Service Banks

Micro-Finance Banks

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Source: Central Bank of Nigeria. https://www.cbn.gov.ng/supervision/finstitutions.asp