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May 8, 2024
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CBN releases licensed deposit money banks list

CBN building

The Central Bank of Nigeria (CBN) unveiled an extensive dossier on licensed Deposit Money Banks (DMBs) operating across the nation. The disclosure, showcased on the CBN’s official website on a Tuesday, provides a panoramic view of Nigeria’s banking sector.

Among the institutions granted international authorization are Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.

Commercial banks endowed with national authorization encompass Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited, and Optimus Bank Limited.

Furthermore, commercial banks operating under regional licenses include Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited.

In the realm of non-interest banking, entities with national authorization comprise Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.

Merchant banking institutions listed in the disclosure are Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited.

Moreover, the registry encompasses financial holding companies such as Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited.

Notably, the Mauritius Commercial Bank Representative Office (Nigeria) Limited was cited as the sole representative office in the compilation.

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