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CBN Releases List Of Licensed Deposit Money Banks In Nigeria

Additionally, fifteen banks possess commercial banking licenses with National Authorization, while four banks hold commercial banking licenses with regional authorization.

By Johnson Atoukudu

The Central Bank of Nigeria has published 44 lists of licensed deposit money banks operating in Nigeria. This announcement was made via a release on the central bank’s official website on Tuesday.

As per the CBN, seven banks, including 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.

Additionally, fifteen banks possess commercial banking licenses with National Authorization, while four banks hold commercial banking licenses with regional authorization.

Furthermore, four non-interest banks have national authorization.

The CBN noted that the country has six merchant banks licensed with national authorization and that the number of financial holding companies has increased to seven.

Moreover, the CBN mentioned the presence of a Mauritius commercial bank representative office in the country. This list release follows the CBN’s recent adjustment of the minimum capital requirement for all banks in Nigeria, aimed at fortifying the nation’s financial sector.

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