The Central Bank of Nigeria (CBN) has unveiled a detailed list of licensed Deposit Money Banks (DMBs) and financial institutions operating within the country.
The comprehensive roster, published on the CBN’s official website on Tuesday, offers valuable insights into the diverse banking landscape in Nigeria.
Among the prominent DMBs with 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. These institutions play a pivotal role in facilitating cross-border transactions and serving the needs of both domestic and international clients.
Additionally, the list includes commercial banks with national authorization, such as Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, and Keystone Bank Limited, among others. These banks operate nationwide, offering a wide range of banking services to customers across different regions of Nigeria.
Furthermore, several commercial banks hold regional licenses, including Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited. These institutions cater to specific geographic areas, contributing to the financial inclusion and economic development of their respective regions.
In the non-interest banking sector, players with national authorization, such as Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited, offer Sharia-compliant banking services to customers seeking ethical and interest-free financial solutions.
The merchant banking category comprises reputable institutions like Coronation Merchant Bank Limited, FBN Merchant Bank Limited, and FSDH Merchant Bank Limited, among others. These entities specialize in providing financial advisory services, capital raising, and investment management to corporate clients and high-net-worth individuals.
Additionally, the list includes financial holding companies, including Access Holdings Plc, FBN Holdings Plc, and Stanbic IBTC Holdings Plc, among others. These holding companies play a crucial role in overseeing the operations of their subsidiary banks and financial services firms, ensuring strategic alignment and regulatory compliance across the group.
