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Trading

List of Commercial Banks in Nigeria

Published by Gbaf News

Posted on April 19, 2013

1 min read

· Last updated: June 11, 2018

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1 Access Bank
2 Citibank
3 Diamond Bank
4 Ecobank Nigeria
5 Enterprise Bank Limited – Formerly Spring Bank
6 Fidelity Bank Nigeria
7 First Bank of Nigeria
8 First City Monument Bank
9 Keystone Bank Limited
10 Guaranty Trust Bank
11 Mainstreet Bank Limited
12 Savannah Bank
13 Skye Bank
14 Stanbic IBTC Bank Nigeria Limited
15 Standard Chartered Bank
16 Sterling Bank
17 Union Bank of Nigeria
18 United Bank for Africa
19 Unity Bank Plc.
20 Wema Bank
21 Zenith Bank

Key Takeaways

  • Nigeria hosts over 20 CBN‑licensed commercial banks including both legacy and newer entrants.
  • The Central Bank of Nigeria regulates and periodically updates the licensing and capital requirements for commercial banks.
  • Recent recapitalisation efforts in 2026 reflect strengthening of the sector’s financial resilience.

References

Frequently Asked Questions

Which authority licenses commercial banks in Nigeria?
The Central Bank of Nigeria (CBN) is the regulatory authority that licenses and supervises commercial banks.
How many commercial banks operate in Nigeria currently?
Nigeria has over 20 licensed commercial banks, including both long‑established and newer regional and international entrants.
What recent regulatory reforms have impacted Nigerian commercial banks?
In 2026, the CBN instituted a recapitalisation programme requiring banks to meet higher minimum capital thresholds by March 31, boosting resilience.

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