The banking scene in Nigeria consists of a diverse range of financial institutions and banks. These include the Central Bank of Nigeria (CBN), commercial banks such as First Bank Nigeria and the Asset Management Corporation of Nigeria (AMCOM) to manage non-performing loans of the commercial banks.
Major Nigerian Banks
Zenith is Nigeria’s largest bank and ranked as the 7th best bank in Africa. It was founded in 1990 and it is listed on both the Nigerian and London Stock Exchange. Learn More
First Bank of Nigeria is Nigeria’s biggest bank in terms of total deposits and operates a network of over 750 branches across Africa and around the world. In Nigeria it has over 10 million customers and employs over 7,000 staff. Learn More
Fidelity Bank is one of the largest banks in Nigeria which has over 220 branches nationally and is listed on the Nigerian Stock Exchange. Read More
Guaranty Trust Bank, or GTB as it’s known, has over 10,000 employees and has introduced many innovations to the Nigerian banking sector. Learn More
Heritage Bank Plc. was founded in 1989 as Societe Generale Bank (Nigeria). In 2012, it was re-issued a banking license and is now licensed as a National Bank. Learn More
Access Bank is part of the Access Bank Group and was founded in 1989. Since then, it has grown into a significant player in the African banking scene with operations in many countries including Ghana, Rwanda and Zambia. Learn More
United Bank for Africa (UBA) Plc is a significant player in the Nigerian banking sector with operations in 19 African countries and been in operation since 1949. In 2005, it merged with Standard Trust Bank (STB) which was one of the largest mergers in Nigeria’s history. Learn More
Diamond Bank is one of the largest banks in West Africa with over 240 branches in Nigeria, 20 branches in Benin Republic, 2 branches in Senegal, 1 branch in Togo and 3 branches in Cote d’Ivoire. Learn More
CitiBank is the oldest international bank operating in Nigeria as it has been active since 1984. Today Citi has 12 banks spread across the country. Learn More
Ecobank was founded in 1986 and is one of the top 5 banks in Nigeria with over 600 branches providing a full range of services including Retail Banking, Wholesale Banking and Investment Banking services. Learn More
Standard Chartered Bank Nigeria originally began in 1965, but after many
changes, it re-entered again in 1999 as a subsidiary of Standard Chartered Bank Plc in London. Learn More
The Bank of Industry Nigeria (or BOI Nigeria) is the leading bank for funding in the industrial sector with many services and funds focused on igniting the Nigerian economy. Learn More
Stanbic IBTC Bank is a member of the Standard Bank Group , a large financial services company based in South Africa. Standard Bank is Africa’s largest banking group ranked by assets and earnings, with operations in over 20 African countries Learn More
First City Monument Bank is one of Nigeria’s top 10 banks with branches in every state and a full retail and commercial offering, plus it is listed on the Nigerian Stock Exchange (symbol FCMB). Learn More
For more information on comparing the exchange rate of the Dollar to Naira or Naira to Dollar or other currencies such as the Euro, see below:
News and Articles
The First Bank of Nigeria is not only one of Nigeria’s biggest banks, but also one of the most innovative on the internet as it has won the Global Finance Digital Bank of Distinction award in 2016.
Have you been hearing the term NUBAN lately and not sure what people are referring to? We have more information inside.
Use our free loan calculator to compare personal loans and mortgages in Nigeria and save money on repayments.
The Nigerian banking system is making leaps and bounds in the last few years, but it’s important to remember that public holidays affect the banks in Nigeria just like anywhere else, so be aware of these dates so you don’t miss out on important financial services.
The Central Bank of Nigeria (CBN) is the regulator of all financial activity in the country and ensures the financial stability of the banking system.