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The Central Bank of Nigeria recently published a comprehensive list of 25 commercial banks operating in the country as of February 2024. Most of the commercial banks in Nigeria have their headquarters in Lagos state, which is not surprising given that the city was the capital of Nigeria until December 12, 1991, when Babangida and his Ministers of the Federal Capital Territory led by Mamman Vatsa, Hamza Abdullahi and later General Gado Nasko moved the FCT to Abuja. However, Unity Bank and Premium Trust Bank are unique as they are the only banks with headquarters outside Lagos, specifically in FCT and Rivers State.
Nigeria has a robust banking sector, with local and international banks offering a variety of financial services to businesses and individuals. This article features all 25 commercial banks in Nigeria and categorizes them into the most popular and least popular banks.
Nigeria has multiple banks for people to secure their money, get loans, and manage their finances. Some of these banks are well-known and trusted for their satisfactory services. They offer different types of accounts for savings and business and have branches all over the country. This makes it convenient for customers to access financial assistance. These banks also have internet and mobile app services, allowing customers to handle their finances from home, like transferring money and paying bills, without going to the bank.
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Access Bank Plc is a prominent commercial bank in Nigeria. It has been operating since its re-registration on January 17, 1990. The bank is located at 14/15, Prince Alaba Oniru Road, Victoria Island, Lagos. Access Bank provides a wide range of financial services, including banking, loans, and investments. It serves both domestic and international customers. Access Bank has established itself as a key player in the Nigerian financial sector. The bank was previously known as Capital Bank Int. Marina Bank underwent re-registration on February 5th, 2001.
The First Bank of Nigeria is the oldest in Nigeria, having been established in 1894. The bank is one of the largest in Nigeria and provides various financial services to businesses and individuals, including corporate and investment banking, personal banking, and wealth management.
Guaranty Trust Bank is one of the most innovative banks in Nigeria, having introduced several digital banking solutions that have transformed the banking landscape in the country. The bank provides various financial services to businesses and individuals.
United Bank for Africa
United Bank for Africa is one of the leading banks in Nigeria, with operations in 20 African countries. Owned by billionaire business executive Tony Elumelu, UBA offers financial services to businesses and individuals, including corporate and investment banking, personal banking, and wealth management.
Zenith Bank is a highly successful bank in Nigeria that is known for its strong focus on providing financial assistance to businesses and corporations. It offers a wide range of financial services to both individuals and businesses, including personal banking and wealth management. The founder of Zenith Bank, Jim Ovia, is a well-known business leader in Nigeria, who also owns several prime properties across the country. Additionally, he owns a mobile telecom operator called Visafone, which has over 3 million subscribers.
Fidelity Bank is a rapidly growing bank in Nigeria, which emphasizes offering creative digital banking solutions to its clients. The bank provides a wide range of financial services to both individuals and businesses, including online, personal, SME, corporate, investment, agricultural, and private Banking Services. Fidelity Bank asserts that it is not owned by investors but by the families who have deposited their hard-earned savings in the bank.
Stanbic IBTC Bank is a subsidiary of Standard Bank Group, Africa’s largest banking group, and financial services giant, based in South Africa. Atedo Peterside, a Nigerian entrepreneur, investment banker, and economist, established the bank. Additionally, Atedo Peterside founded Anap Business Jets Limited (Anap Jets) and the Atedo N. A. Peterside Foundation (Anap Foundation).
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Mariam Emily Adama is a copywriter, SEO strategist, and digital marketer passionate about using words to inform, inspire, and influence. With over seven years of experience writing for global brands and managing digital campaigns, she brings a data-driven yet creative approach to content creation. When she’s not writing or analyzing trends, Mariam enjoys exploring new cultures, reading, and documenting stories that celebrate African excellence.
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