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

The Central Bank of Nigeria (CBN) has released an updated list of licensed deposit money banks operating in Nigeria as of April 26, 2024.

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:

• 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:

• 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.

SN	Name of Institution	Head Office Address	State
1	ACCESS BANK LIMITED	14/15, Prince Alaba Oniru Road, Victoria Island	Lagos
2	FIDELITY BANK PLC	2, Kofo Abayomi Street, Victoria Island	Lagos
3	FIRST CITY MONUMENT BANK LIMITED	Primose Towers, 17a, Tinubu Street	Lagos
4	FIRST BANK NIGERIA LIMITED	Samuel Asabia House, 35 Marina	Lagos
5	GUARANTY TRUST BANK LIMITED	635, Akin Adesola Street, Victoria Island	Lagos
6	UNITED BANK OF AFRICA PLC	57 Marina	Lagos
7	ZENITH BANK PLC	Plot 84, Ajose Adeogun Street, Victoria Island	Lagos
8	CITIBANK NIGERIA LIMITED	27, Kofo Abayomi Street, Victoria Island	Lagos
9	ECOBANK NIGERIA LIMITED	21, Ahmadu Bello Way, Victoria Island	Lagos
10	HERITAGE BANK PLC	292b, Ajose Adeogun Street, Victoria Island	Lagos
11	GLOBUS BANK LIMITED	No. 6 Adeyemo Alakija Street, Victoria Island	Lagos
12	KEYSTONE BANK LIMITED	Keystone House, 1, Keystone Crescent, Victoria Island	Lagos
13	POLARIS BANK LIMITED	3, Akin Adesola Street, Victoria Island	Lagos
14	STANBIC IBTC BANK LIMITED	IBTC Place, Walter Carrington Crescent, Victoria Island	Lagos
15	STANDARD CHARTERED BANK LIMITED	142, Ahmadu Bello Way, Victoria Island	Lagos
16	STERLING BANK LIMITED	Sterling Towers, 20 Marina	Lagos
17	TITAN TRUST BANK LIMITED	Plot 1680 Sanusi Fafunwa Street, Victoria Island	Lagos
18	UNION BANK OF NIGERIA PLC	Stallion Plaza, 36 Marina	Lagos
19	UNITY BANK PLC	Plot 42, Ahmed Onibudo Street, Victoria Island	Lagos
20	WEMA BANK PLC	Wema Towers, 54 Marina, Lagos Island	Lagos
21	PREMIUM TRUST BANK LIMITED	Plot 1612 Adeola Hopewell Street Victoria Island	Lagos
22	OPTIMUS BANK LIMITED	No. 55, Bishop Oluwole Street, Victoria Island	Lagos
23	PROVIDUS BANK LIMITED	Plot 54, Adetokunbo Ademola Street, Victoria Island	Lagos
24	PARALLEX BANK LIMITED	31B, Oyeleke Street, Alausa, Ikeja	Lagos
25	SUNTRUST BANK NIGERIA LIMITED	1, Oladele Olashore Street, Victoria Island	Lagos
26	SIGNATURE BANK LIMITED	Plot 31B, Gana Street, Maitama	Abuja
27	JAIZ BANK PLC	Plot 1073 J.S.Tarka Street, Area 3 Garki	Abuja
28	TAJ BANK LIMITED	Plot 72, Ahmadu Bello Way, Central Business District	Abuja
29	LOTUS BANK LIMITED	30A, Adetokunbo Ademola Street, Victoria Island	Lagos
30	ALTERNATIVE BANK LIMITED	Sterling Towers, 20 Marina, Street Island	Lagos
31	CORONATION MERCHANT BANK LIMITED	St. Nicholas House, 6th Floor, 28A, Catholic Mission Street, P.M.B 12511, Marina	Lagos
32	FBN MERCHANT BANK LIMITED	2, Broad Street, P.O. Box 4238	Lagos
33	FSDH MERCHANT BANK LIMITED	UAC House, 5th-8th Floor, 1/5 Odunlami Street, P.M.B 12913	Lagos
34	GREENWICH MERCHANT BANK LIMITED	Plot 1698A Oyin Jolayemi Street, P. M. B. 80074, Victoria Island	Lagos
35	NOVA MERCHANT BANK LIMITED	23, Kofo Abayomi Street, Victoria Island	Lagos
36	RAND MERCHANT BANK LIMITED	3rd Floor Wings East Tower, 17A, Ozumba Mbadiwe Street, Victoria Island	Lagos
37	ACCESS HOLDINGS PLC	14 Alaba Oniru Street, Oniru Estate	Lagos
38	FBN HOLDINGS PLC	Samuel Asabia House, 35 Marina, P.O. Box 5216	Lagos
39	FCMB GROUP PLC	First City Plaza, 44 Marina	Lagos
40	FSDH HOLDING COMPANY LIMITED	UAC House, (5th -8th Floors), 1/5 Odunlami Street	Lagos
41	GUARANTY TRUST HOLDING COMPANY PLC	Plot 635, Akin Adesola Street, Victoria Island	Lagos
42	STANBIC IBTC HOLDINGS PLC	I.B.T.C Place, Walter Carrington Crescent, P.O. Box 71707, Victoria Island	Lagos
43	STERLING FINANCIAL HOLDINGS LIMITED	NO 22 Marina	Lagos
44	The Mauritius Commercial Bank Representative Office(Nigeria) Limited	Room 103, 10th floor, Standard Chartered Bank Building, 142, Ahmadu Bello Way, Victoria Island	Lagos