List of banks in Nigeria with Different Categories of Authorization in Nigeria.

List of banks in Nigeria with Different Categories of Authorization by CBN.

List of banks in Nigeria: Below are the List of Deposit Money banks in Nigeria approved by CBN for operations and its Different Categories of Authorization in Nigeria (www.cbn.gov.ng).

List of banks in Nigeria

Banking industry in Nigeria has a very big role to play in terms of development and employment opportunity, They also involved heavily in Corporate Social Responsibility (CSR) Below is the list of Banks in Nigeria in terms of features and authorization are listed alphabetically.

Deposit Money banks with International Authorization in Nigeria.

1. Access Bank Plc
2. Fidelity Bank Plc
3. First City Monument Bank Plc
4. First Bank of Nigeria Limited
5. Guaranty Trust Bank Plc
6. Union Bank of Nigeria Plc
7. United Bank for Africa Plc
8. Zenith Bank Plc

Deposit Money banks with National Authorization in Nigeria.

1. Citibank Nigeria Limited
2. Ecobank Nigeria Plc
3. Heritage Banking Company Limited
4. Keystone Bank Limited
5. Polaris Bank Limited. The successor to Skye Bank Plc.
6. Stanbic IBTC Bank Plc
7. Standard Chartered
8. Sterling Bank Plc
9. Titan Trust Bank Limited
10. Unity Bank Plc
11. Wema Bank Plc

Deposit Money banks with Regional Authorization in Nigeria.

1. Globus Bank Limited
2. SunTrust Bank Nigeria Limited
3. Providus Bank Limited

list of non-interest banks in Nigeria.

1. Jaiz Bank Plc
2. Taj Bank Limited

List of merchant banks in Nigeria.

1. Coronation Merchant Bank
2. FBNQuest Merchant Bank
3. FSDH Merchant Bank
4. Rand Merchant Bank
5. Nova Merchant Bank

See Also: Sort Codes Of All Nigerian Banks Approved by the Central Bank of Nigeria (CBN)

The Central Bank of Nigeria (CBN) is the Central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on July 1, 1959.

The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country, promote monetary stability and a sound financial environment, and to act as a banker of last resort and financial adviser to the federal government.

The central bank’s role as lender of last resort and adviser to the federal government has sometimes pushed it into murky regulatory waters. After the end of imperial rule the desire of the government to become pro-active in the development of the economy became visible especially after the end of the Nigerian civil war, the bank followed the government’s desire and took a determined effort to supplement any short falls in credit allocations to the real sector.

The bank soon became involved in lending directly to consumers, contravening its original intention to work through commercial banks in activities involving consumer lending. However, the policy was an offspring of the indigenisation policy at the time. Nevertheless, the government through the central bank has been actively involved in building the nation’s money and equity centers, forming securities regulatory board and introducing treasury instruments into the capital market

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