The Central Bank of Nigeria (CBN) regulates the banking industry in Nigeria. The CBN has six license categories as follows:
Commercial banks (CBs).
Merchant banks (MBs).
Non-interest banks (NIBs).
Primary Mortgage Banks (PMBs).
Payment Service Banks (PSBs).
Micro-finance Banks (MFBs).
The CBN licensed 785 banks under the different categories as of August 2023 as follows:
Commercial Banks
Access Bank Plc
Citibank Nigeria Limited
Ecobank Nigeria Plc
First City Monument Bank Plc
Globus Bank Limited
Guaranty Trust Bank Plc
Heritage Banking Company Ltd.
Keystone Bank Limited
Parallex Bank Ltd
Polaris Bank Plc
Premium Trust Bank
Providus Bank
Stanbic Ibtc Bank Plc
Standard Chartered Bank Nigeria Ltd.
Sterling Bank Plc
Suntrust Bank Nigeria Limited
Titan Trust Bank Ltd
Union Bank of Nigeria Plc
United Bank for Africa Plc
Unity Bank Plc
Wema Bank Plc
Zenith Bank Plc
Merchant Banks
Non-Interest Banks
Primary Mortgage Institutions
Payment Service Banks
Micro-Finance Banks
Source: Central Bank of Nigeria. https://www.cbn.gov.ng/supervision/finstitutions.asp
Comments