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CBN Releases Updated List of Deposit Money Banks, Other Financial Institutions in Nigeria (See Here)

Okay.ng
By Okay.ng
Published: May 7, 2024
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The Central Bank of Nigeria (CBN) has released an updated list of licensed deposit money banks operating in Nigeria as of April 26, 2024.

Contents
Commercial Banks with International AuthorizationCommercial Banks with National AuthorizationNon-Interest Banking License with National AuthorizationMerchant BanksFinancial Holding CompaniesRepresentative Office

The list made available to Okay.ng on Tuesday, May 7th, 2024, includes commercial banks with international and national authorization, merchant banks, non-interest banks, financial holding companies, and a representative office.

See the breakdown below:

Commercial Banks with International Authorization

The list comprises 21 commercial banks with international authorization. These include prominent names such as:

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  • Access Bank Limited
  • Fidelity Bank PLC
  • First City Monument Bank Limited
  • First Bank Nigeria Limited
  • Guaranty Trust Bank Limited
  • United Bank of Africa PLC
  • Zenith Bank PLC

These banks are headquartered in Lagos State and have a widespread presence across Nigeria and international operations.

Commercial Banks with National Authorization

There are 5 commercial banks with national authorization on the list, including

  • Optimus Bank Limited
  • Providus Bank Limited
  • Parallex Bank Limited
  • Suntrust Bank Nigeria Limited
  • Signature Bank Limited.

While most are based in Lagos, Signature Bank Limited has its head office in Abuja, the Federal Capital Territory.

Non-Interest Banking License with National Authorization

The list includes 3 banks operating under a non-interest banking license with national authorization:

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  • Jaiz Bank PLC
  • Taj Bank Limited
  • Lotus Bank Limited

Jaiz Bank PLC is headquartered in Abuja, while Taj Bank Limited and Lotus Bank Limited are based in Lagos.

Merchant Banks

There are 6 merchant banks on the list, including:

  • Coronation Merchant Bank Limited
  • FBN Merchant Bank Limited
  • FSDH Merchant Bank Limited
  • Greenwich Merchant Bank Limited
  • Nova Merchant Bank Limited
  • Rand Merchant Bank Limited

All of these merchant banks are headquartered in Lagos

Financial Holding Companies

The list also includes 5 financial holding companies in Nigeria, they are:

  • Access Holdings PLC
  • FBN Holdings PLC
  • FCMB Group PLC
  • FSDH Holding Company Limited
  • Guaranty Trust Holding Company PLC
  • Stanbic IBTC Holdings PLC
  • Sterling Financial Holdings Limited

Representative Office

The Mauritius Commercial Bank Representative Office (Nigeria) Limited is the sole representative office listed, with its office located in Lagos.

SNName of InstitutionHead Office AddressState
1ACCESS BANK LIMITED14/15, Prince Alaba Oniru Road, Victoria IslandLagos
2FIDELITY BANK PLC2, Kofo Abayomi Street, Victoria IslandLagos
3FIRST CITY MONUMENT BANK LIMITEDPrimose Towers, 17a, Tinubu StreetLagos
4FIRST BANK NIGERIA LIMITEDSamuel Asabia House, 35 MarinaLagos
5GUARANTY TRUST BANK LIMITED635, Akin Adesola Street, Victoria IslandLagos
6UNITED BANK OF AFRICA PLC57 MarinaLagos
7ZENITH BANK PLCPlot 84, Ajose Adeogun Street, Victoria IslandLagos
8CITIBANK NIGERIA LIMITED27, Kofo Abayomi Street, Victoria IslandLagos
9ECOBANK NIGERIA LIMITED21, Ahmadu Bello Way, Victoria IslandLagos
10HERITAGE BANK PLC292b, Ajose Adeogun Street, Victoria IslandLagos
11GLOBUS BANK LIMITEDNo. 6 Adeyemo Alakija Street, Victoria IslandLagos
12KEYSTONE BANK LIMITEDKeystone House, 1, Keystone Crescent, Victoria IslandLagos
13POLARIS BANK LIMITED3, Akin Adesola Street, Victoria IslandLagos
14STANBIC IBTC BANK LIMITEDIBTC Place, Walter Carrington Crescent, Victoria IslandLagos
15STANDARD CHARTERED BANK LIMITED142, Ahmadu Bello Way, Victoria IslandLagos
16STERLING BANK LIMITEDSterling Towers, 20 MarinaLagos
17TITAN TRUST BANK LIMITEDPlot 1680 Sanusi Fafunwa Street, Victoria IslandLagos
18UNION BANK OF NIGERIA PLCStallion Plaza, 36 MarinaLagos
19UNITY BANK PLCPlot 42, Ahmed Onibudo Street, Victoria IslandLagos
20WEMA BANK PLCWema Towers, 54 Marina, Lagos IslandLagos
21PREMIUM TRUST BANK LIMITEDPlot 1612 Adeola Hopewell Street Victoria IslandLagos
22OPTIMUS BANK LIMITEDNo. 55, Bishop Oluwole Street, Victoria IslandLagos
23PROVIDUS BANK LIMITEDPlot 54, Adetokunbo Ademola Street, Victoria IslandLagos
24PARALLEX BANK LIMITED31B, Oyeleke Street, Alausa, IkejaLagos
25SUNTRUST BANK NIGERIA LIMITED1, Oladele Olashore Street, Victoria IslandLagos
26SIGNATURE BANK LIMITEDPlot 31B, Gana Street, MaitamaAbuja
27JAIZ BANK PLCPlot 1073 J.S.Tarka Street, Area 3 GarkiAbuja
28TAJ BANK LIMITEDPlot 72, Ahmadu Bello Way, Central Business DistrictAbuja
29LOTUS BANK LIMITED30A, Adetokunbo Ademola Street, Victoria IslandLagos
30ALTERNATIVE BANK LIMITEDSterling Towers, 20 Marina, Street IslandLagos
31CORONATION MERCHANT BANK LIMITEDSt. Nicholas House, 6th Floor, 28A, Catholic Mission Street, P.M.B 12511, MarinaLagos
32FBN MERCHANT BANK LIMITED2, Broad Street, P.O. Box 4238Lagos
33FSDH MERCHANT BANK LIMITEDUAC House, 5th-8th Floor, 1/5 Odunlami Street, P.M.B 12913Lagos
34GREENWICH MERCHANT BANK LIMITEDPlot 1698A Oyin Jolayemi Street, P. M. B. 80074, Victoria IslandLagos
35NOVA MERCHANT BANK LIMITED23, Kofo Abayomi Street, Victoria IslandLagos
36RAND MERCHANT BANK LIMITED3rd Floor Wings East Tower, 17A, Ozumba Mbadiwe Street, Victoria IslandLagos
37ACCESS HOLDINGS PLC14 Alaba Oniru Street, Oniru EstateLagos
38FBN HOLDINGS PLCSamuel Asabia House, 35 Marina, P.O. Box 5216Lagos
39FCMB GROUP PLCFirst City Plaza, 44 MarinaLagos
40FSDH HOLDING COMPANY LIMITEDUAC House, (5th -8th Floors), 1/5 Odunlami StreetLagos
41GUARANTY TRUST HOLDING COMPANY PLCPlot 635, Akin Adesola Street, Victoria IslandLagos
42STANBIC IBTC HOLDINGS PLCI.B.T.C Place, Walter Carrington Crescent, P.O. Box 71707, Victoria IslandLagos
43STERLING FINANCIAL HOLDINGS LIMITEDNO 22 MarinaLagos
44The Mauritius Commercial Bank Representative Office(Nigeria) LimitedRoom 103, 10th floor, Standard Chartered Bank Building, 142, Ahmadu Bello Way, Victoria IslandLagos
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