List Of Banks In Nigeria 

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The financial industry in Nigeria is a very important sector of the economy. It ensures the growth and overall development of other sectors within the economy. It comprises banks and non bank financial institutions. These financial institutions are regulated by the Central Bank of Nigeria (CBN), Federal Ministry of Finance (FMF), Securities and Exchange Commission (SEC), Federal Mortgage Bank of Nigeria (FMBN), Nigeria Deposit Insurance Coloration (NDIC), National Insurance Commission (NIC), and the Board of Community Bank.

Banks are financial institutions whose importance cannot be overestimated. A very important role they play in our every day lives is to safeguard and manage our hard earned money. They also provide loans and different payment services to business and individuals.

Types Of Banks In Nigeria

There are different banks in Nigeria. Each bank has a different group it is categorized into. Basically, the different types of banks in Nigeria are:

  • Commercial Bank: Commercial banks are the most common types of bank in Nigeria. They are responsible for accepting deposits, checking accounts, offering loans and basic financial products like; certificates of deposit and savings accounts to individuals and small businesses.
  • Central Bank: This is the apex bank in Nigeria. It is responsible for the regulation and control of other banks. Its primary function is to promote monetary stability and a strong financial system. It serves as a banker and financial advisor to the federal government and banker of last resort to other banks. It also encourages the growth of all financial institutions.
  • Merchant Bank: Merchant banks do not provide financial services to the general public. Their main job involves dealing in international trade and providing services to multinational companies. They also provide fundraising services, underwriting and financial advisory services to large corporations.
  • Agricultural Bank: Just as the name implies, agricultural banks simply functions in the agricultural sector. They lend money to farmers over a long period of time and charge lower interest rates. They are responsible for providing and regulating credit and other facilities for the development of agriculture, small scale and other activities relating to rural areas.
  • Microfinance Bank: Microfinance banking services is created for unemployed and low income individuals who have no other access to financial services. They allow people to take small business loans through their ethical lending process. They also help people people to become self sufficient.

List Of Banks In Nigeria

Based on the aforementioned types of banks, here is a list of banks in Nigeria.

Commercial Banks in Nigeria

Here is a list of all commercial banks in Nigeria:

  1. Access Bank Plc
  2. Ecobank Nigeria
  3. Guaranty Trust Holding Company (GTHC)
  4. Sterling Bank
  5. Wema Bank
  6. United Bank For Africa Plc (UBA)
  7. First City Monument Bank Limited (FCMB)
  8. Zenith Bank Plc
  9. Stanbic IBTC Bank Plc
  10. Fidelity Bank
  11. First Bank Of Nigeria Limited
  12. Union Bank Of Nigeria Plc
  13. Citibank Nigeria Limited
  14. Heritage Bank Plc
  15. Keystone Bank Limited
  16. Polaris Bank Limited
  17. Standard Chartered
  18. Titan Trust Bank Limited
  19. Unity Bank Plc
  20. Parallex Bank Limited
  21. Globus Bank Limited
  22. Suntrust Bank Nigeria Limited
  23. Providus Bank Limited

Microfinance Banks in Nigeria

Here’s a list of all microfinance banks in Nigeria:

  1. Accion Microfinance Bank
  2. Mutual Trust Microfinance Bank
  3. Rephidim Microfinance Bank
  4. Shepherd Trust Microfinance Bank
  5. Infinity Microfinance Bank
  6. Advans La Fayette Microfinance Bank
  7. Finca Microfinance Bank Limited
  8. Covenant Microfinance Bank Limited
  9. Fina Trust Microfinance Bank Limited
  10. Pearl Microfinance Bank Limited
  11. Empire Trust Microfinance Bank
  12. Peace Microfinance Bank
  13. AACB Microfinance Bank
  14. AB Microfinance Bank
  15. Abia State University Microfinance Bank
  16. Above Only Microfinance Bank
  17. ABC Microfinance Bank
  18. Abubakar Tafawa Balewa University Microfinance Bank
  19. Achina Microfinance Bank
  20. Abestone Microfinance Bank
  21. Adazi-enu Microfinance Bank
  22. Adeyemi College Staff Microfinance Bank
  23. UNILAG Microfinance Bank

Online Banks In Nigeria

Here’s a list of all online banks in Nigeria:

  1. Kuda Bank
  2. Sparkle Bank
  3. Rubies Bank
  4. Mkobo MFB
  5. VFD Microfinance Bank
  6. Mint Finex MFB

Non-interest Banks in Nigeria

Here’s a list of all non-interest banks in Nigeria:

  1. Jaiz Bank
  2. Lotus Bank
  3. Tajbank Limited

Merchant Banks

Here’s a list of all merchant banks in Nigeria:

  1. Rand Merchant Bank
  2. Coronation Merchant Bank
  3. Nova Merchant Bank
  4. FSDH Merchant Bank
  5. FBNQUEST Merchant Bank
  6. RMB Merchant Bank
  7. DSH Merchant Bank
  8. Greenwish Merchant Bank
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