The Central Bank of Nigeria, CBN, has released list of 44 licensed deposit money banks in Nigeria. This was contained in a statement by apex bank disclosed on its official website on Tuesday.
According to the Central Bank, seven banks, including Zenith Bank, Access Bank, First Bank, First City Monument Bank, United Bank of Africa, Fidelity, and Guaranty Trust Bank, have Commercial Banking licenses with International Authorization as of April 26, 2024.
The apex bank also, listed fifteen banks that have Commercial Banking licenses with National Authorization.
Similarly, another four banks have Commercial Banking licenses with Regional Authorization, and four non-interest banks have National Authorization.
CBN, however, stated that Nigeria has six merchant banks licensed with National Authorization.
It maintained that financial holding companies increased to seven.
CBN also added that Nigeria has a Mauritius Commercial Bank representative office in the country.
The list comes months after the CBN raised the minimum capital requirement for all banks in Nigeria to strengthen the country’s financial sector.