As the recapitalisation of banks continues, the Central Bank of Nigeria (CBN) has indicated that four deposit money banks in Nigeria have transitioned their banking licences from regional to national status.
As per the list of licensed financial institutions published by the Central Bank of Nigeria (CBN), the country now boasts 7 international banks, 15 banks holding national licences, 4 operating with regional licences, alongside 4 non-interest banks, 6 merchant banks, 7 financial holding companies, and 1 representative office.
As seen on the CBN website, banks with commercial banking licences with international authorisation include; 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.
Banks with commercial banking licences with national authorisation 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.
Banks with regional authorisation include; Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited in the commercial banking segment.
Banks with Non-interest licences with national authorisation include; Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.
Merchant banking entities include 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 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.
And finally, Mauritius Commercial Bank Representative Office (Nigeria) Limited is the only sole representative office listed.