FULL LIST: CBN Releases List of Licensed Deposit Money Banks

In a move towards transparency and regulatory oversight, the Central Bank of Nigeria (CBN) has unveiled a detailed roster of licensed Deposit Money Banks (DMBs) operating within the nation’s borders. The comprehensive list, accessible via the CBN’s official website, offers a panoramic view of Nigeria’s banking sector.

International Authorisation: Among the prominent institutions boasting international authorization are Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.

National Authorization: Commercial banks with national authorization include Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited, and Optimus Bank Limited.

Regional Licenses: Meanwhile, commercial banks operating under regional licenses encompass Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited.

Non-Interest Banking Sector: Noteworthy players in the non-interest banking sector with national authorization comprise Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.

Merchant Banking Category: The merchant banking category sees representation from Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited.

Financial Holding Companies: Financial holding companies listed for scrutiny include Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited.

Representative Office: Lastly, The Mauritius Commercial Bank Representative Office (Nigeria) Limited stands as the sole representative office on the roster.