The Central Bank of Nigeria (CBN) has unveiled its latest roster comprising 44 licensed deposit money banks in Nigeria. This announcement was made through a comprehensive list published on the official CBN website on Tuesday.
As per the disclosure by the apex bank, a total of seven banks, namely Zenith Bank, Access Bank, First Bank, First City Monument Bank, United Bank of Africa, Fidelity, and Guaranty Trust Bank, hold Commercial Banking licenses with international authorization as of April 26, 2024.
Furthermore, fifteen banks possess commercial banking licenses with National Authorization, while four banks hold commercial banking licenses with regional authorization. Additionally, four non-interest banks have been granted national authorization.
The CBN highlighted that the country is home to six merchant banks licensed with national authorization, alongside an increase in financial holding companies, which now stands at seven.
Moreover, the CBN’s list includes a Mauritius commercial bank representative office established in the country.
This release of the updated list follows the CBN’s recent move to elevate the minimum capital requirement for all banks in Nigeria, aimed at fortifying the nation’s financial sector.
