At the moment, the number of banks in Nigeria is less than 30 and they are spread around its cities and towns. This is because some of them these banks were compelled to shut down or merge with other banks as a result of a CBN directive issued in 2006.
Some of the banks in Nigeria at the moment have license with international authorization, others have national authorization and the rest have regional authorization.
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We will reveal these banks to you presently.
1. Access Bank PLC
Access Bank PLC more commonly known as just Access Bank is often regarded as one of the richest banks in Nigeria. This financial institution reportedly had a total asset of about $12 billion USD (3.66 trillion Naira using CBN exchange rate) as at 2015.
The bank is also one of the largest Nigerian banks as it has more than 10,000 employees currently.
Access Bank was given its banking license in December 1988. Many years later in 2001, they proceeded to obtain a universal banking license from the Central bank of Nigeria. They were also the bank that completed the acquisition of intercontinental bank. Access Bank acquired Intercontinental Bank In 2012.
You can visit the Access Bank website here: http://www.accessbankplc.com/
Their head office address is at 999c, Danmole Street, Off Idejo Street, Off Adeola Odeku Street, Victoria Island, Lagos.
2. Citibank Nigeria Limited.
Citibank Nigeria has been present in Nigeria since 1984. It has several service bank branches spread across the country.
You can visit this bank’s website at: www.citi.com
Their head office is at 27, Kofo Abayomi Street, Victoria Island, Lagos.
3. Diamond Bank PLC.
Diamond bank was founded way back in December 1990. It has since grown in leaps and bounds. It has even obtained its universal banking license. Diamond Bank acquired its universal banking license in February, 2001. The bank now has a subsidiary in The United Kingdom. It also got enlisted on the Nigerian Stock Exchange in 2005.
Diamond Bank is one of the biggest Nigerians banks with over 250 branches around the country Nigeria. It has an additional 20 branches in Benin Republic, 3 branches in Ivory Coast, 2 branches in Senegal and 1 branch in Togo.
You can access the Diamond Bank website here: http://www.accessbankplc.com/
Their head office address is at 999c, Danmole Street, Off Idejo Street, Off Adeola Odeku Street, Victoria Island, Lagos.
4. Ecobank Nigeria PLC.
Ecobank Nigeria Plc, which is now commonly referred to as Ecobank by most Nigerians, was founded in 1986.
In December 2011, it was reported that Ecobank Nigeria was in control of total assets valued at approximately US$8.1 billion (NGN:1.32 trillion).
You can visit the Ecobank website here
Their head office is at 21, Ahmadu Bello Way, Victoria Island, Lagos.
5. Fidelity Bank PLC.
Fidelity Bank was established long ago in 1988. This bank has also obtained its universal banking license. It got the license in February 2001.
The bank got listed on the Nigeria stock exchange in May 2005 and now has an estimated total assets of $6.4 billion USD (1.952 Trillion Naira).
You can access the Fidelity Bank website at: www.fidelitybank.ng
Their head office is at 2, Kofo Abayomi Street, Victoria Island, Lagos.
6. First Bank Of Nigeria Limited.
This is perhaps the most popular bank in Nigeria at the moment. It is also the oldest bank in the country.
The bank was established in 1894. At the time of its establishment, it was known as the Bank of British West Africa. However much later in 1979, it got re-named to First Bank of Nigeria. Now, most Nigerians just refer to it as First Bank.
With over 10 million active customers, the First Bank of Nigeria Limited is the biggest bank in Nigeria by total deposit and gross earnings.
The bank now has many subsidiaries spread across the globe including the United Kingdom, China, France, Guinea, Ghana, South Africa, Sierra Leone and United Arab Emirates.
The bank reportedly has a total asset of about $13 billion USD (3.97 Trillion Naira).
You can visit the First Bank website here: www.firstbanknigeria.com
Their head office is at Samuel Asabia House, 35 Marina, Lagos.
7. First City Monument Bank PLC (FCMB).
First City Monument Bank PLC more commonly referred to by its initials, FCMB, was established in April 1982. It received its license in 1983 and went on to become a public limited liability company in July 2004. The bank now has an estimated total asset of $3.7 billion US Dollars (1.128 Trillion Naira).
FCMB which got listed on the Nigeria Stock Exchange (NSE) in December 2004, is usually considered to be one of the great banks in Nigeria. As at 2013, the bank had over 2000 employees across the country. In February 2012, it fully acquired Finbank.
You can access the FCMB website at: http://www.fcmb.com/
Their head office is at Primose Towers, 17a, Tinubu Street, Lagos.
8. Guaranty Trust Bank PLC.
Guaranty Trust Bank is also one of the top banks in Nigeria as well one of the richest and most popular. This bank was founded in January 1990. Years later in 2002, it obtained its universal banking license.
The bank which is now more popular referred to as just GTbank by most Nigerians, became the first Nigerian joint stock company and the very first subsaharan bank to be listed on London Stock Exchange and Deutsche Börse in July 2007.
Over the years, it has come to be the recipient of numerous banking awards and honors. They are especially known their many technology innovations in Nigerian banking system.
You can access the GTBank website here: www.gtbank.com
Their head office is at 635, Akin Adesola Street, Victoria Island, Lagos.
9. Heritage Bank Limited.
Heritage Bank has its roots in the late 1980s. At the time, it was founded by the late Dr. Olusola Saraki as Societe Generale Bank Nigeria (SGBN). However, in January 2006, Nigeria’s apex bank, the Central Bank closed down SGBN because of its failure to meet new minimum capital requirements of US$155 million (NGN:25 billion) for a National Bank.
Apparently appalled by the CBN’s decision, SGBN took the case to court and successfully challenged the closure. CBN was made to re-issue SGBN’s banking license in December 2012, however as a regional bank.
On March 4, 2013, the bank re-branded as Heritage Banking Company Limited and went on to reopen for business under the new name.
You can visit the Heritage Bank at: www.hbng.com
Their head office is at 292b, Ajose Adeogun Street, Victoria Island, Lagos.
10. Keystone Bank Limited.
You can visit the Keystone website at www.keystonebankng.com
Their Head Office is at ‘Keystone House, 1, Keystone Crescent, Victoria Island, Lagos’
Their total asset is reportedly set at $1.916 billion USD (584.4 Billion Naira).
11. Polaris Bank (Formerly Skye Bank).
Polaris bank which was formerly known as Skye Bank, emerged in 2006 a result of the merger of five banks. The banks merged were EIB International Bank Plc, Prudent Merchant Bank Limited, Bond Bank Limited, Co-operative Bank Plc, and Reliance Bank Limited.
In 2010, the bank was reported to have a total asset of $3.9 billion (1.189 Trillion Naira).
Skye Bank became Polaris Bank in September, 2018 after the Central Bank revoked its license.
You can access the Polaris Bank website here https://www.polarisbanklimited.com/
Their head office is at 3, Akin Adesola Street, Victoria Island, Lagos.
12. Providus Bank
You can visit the Providus Bank website at https://www.providusbank.com/
Their Head Office is at 54 Adetokunbo Ademola Street, Victoria Island 101241, Lagos
13. Stanbic IBTC Bank PLC.
You can visit the Stanbic IBTC website at www.stanbicibtc.com
Their Head Office is at ‘IBTC Place, Walter Carrington Crescent, Victoria Island, Lagos’
Their total asset is reportedly set at $4.7 billion USD (1.42 Trillion Naira) as at 2017.
14. Standard Chartered Bank Limited.
You can visit the Standard Chattered Bank website at www.sc.com
Their Head Office is at 142, Ahmadu Bello Way, Victoria Island, Lagos.
Their total asset is at $647 billion USD (197 Trillion Naira) as at 2016.
15. Sterling Bank PLC.
You can visit the Sterling Bank website at http://www.sterlingbankng.com
Their Head Office is at ‘Sterling Towers, 20 Marina, Lagos.’
Their total asset is reportedly set at $2.7 billion USD (834 Billion Naira) as at 2016.
16. SunTrust Bank Nigeria Limited
You can visit the Sun Trust Bank Nigeria Limited website at https://www.suntrustng.com/
Their Head Office is at 1 Oladele Olashore Street, off Sanusi Fafunwa Street, Victoria Island 101241, Lagos
Their total asset is set at ₦26.56 billion as at 2017
17. Union Bank of Nigeria PLC.
The Union Bank of Nigeria was established way back in 1917. At the time, it was known as Colonial Bank. However, the name was later changed to what we now know as it as; the Union Bank of Nigeria.
In 1971, Union Bank got listed on the Nigeria stock exchange. It is now considered to be one of the richest banks in Nigeria with the most customers. In 2012, the bank was reported to have a total asset of $6.784 billion (2.069 Trillion Naira).
You can check out Union Bank website at: http://www.unionbankng.com
Their head office is at Stallion Plaza, 36 Marina, Lagos.
18. United Bank of Africa (UBA)
The United Bank of Africa was founded in 1949. At the time of its inception, it was known as the British and French Bank Limited (BFB). It was later changed to the United Bank of Africa.
The bank which is currently one of the biggest banks in Nigeria, is more commonly known by it’s initials UBA.
In February, 1961, UBA became a public limited liability company. It also got listed on the Nigerian Stock Exchange in 2005.
You can visit the UBA website at: www.ubagroup.com
Their head office is at 57 Marina, Lagos.
19. Unity Bank PLC.
You can visit the Unity Bank website at www.unitybankng.com
Their Head Office is at Plot 785, Herbert Macaulay Way, Central Business District, Abuja.
Their total asset is reportedly set at $2.45 billion USD (747 Billion Naira) as at 2012.
20. Wema Bank PLC.
You can visit the Wema Bank website at www.wemabank.com
Their Head Office is at ‘Wema Towers, 54 Marina, Lagos Island, Lagos’
Total Asset: $806 million USD (246 Billion Naira) as at 2012.
21. Zenith Bank PLC.
Just like GTBank, Zenith Bank PLC was also founded in 1990. Most Nigerians now refer to it simply as ‘Zenith’
In June 2004, Zenith Bank became a public limited liability company. Five months later in October, 2004, it also got listed on the Nigerian Stock Exchange.
With over 500 branches across Nigeria, Zenith Bank is considered to be one of the largest banks in Nigeria.
In 2016, the bank was reported to have a total asset of 4.7 trillion Naira.
You can visit the Zenith Bank website here: www.zenithbank.com
Their head office is at Plot 84, Ajose Adeogun Street, Victoria Island, Lagos.
