The 44 licenced deposit money banks in Nigeria are listed on a list published by the Central Bank of Nigeria.
In a post published on its official website on Tuesday, the apex bank disclosed this to the public.
As of April 26, 2024, seven banks—Zenith Bank, Access Bank, First Bank, First City Monument Bank, United Bank of Africa, Fidelity, and Guaranty Trust Bank—will obtain international authorization for their commercial banking licences, according to CBN.
Additionally, fifteen banks possess National Authorization licences for commercial banking.
Similar to this, four banks possess national authorization for non-interest banks and four banks possess regional authorization for commercial banking licences.
Six merchant banks in the nation have national authorization licences, according to the bank.
According to the statement, there are now seven financial holding corporations.
The nation has a Mauritius commercial bank representative office, according to CBN.
The list was released several months after the CBN increased the minimum capital requirements for all Nigerian banks in an effort to bolster the nation’s banking industry.
