CBN’s Approved List of Deposit Money Banks & Financial Institutions

The Central Bank of Nigeria (CBN) has released a comprehensive list of accredited Deposit Money Banks (DMBs) across the nation. This list, available on the CBN’s official website, provides a straightforward overview of Nigeria’s banking sector.

Among the prominent institutions with international authorization are stalwarts such as 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 CBN banks have established themselves not only within Nigeria but also on a global scale, reflecting their robust operations and commitment to excellence.

Commercial banks operating under regional licenses, such as Providus Bank Limited and Suntrust Bank Nigeria Limited, play a crucial role in addressing the unique financial needs of specific regions within the country. Their localized approach ensures tailored solutions and support for local businesses and communities.

In line with Nigeria’s diverse financial landscape, non-interest banking institutions like Jaiz Bank Plc and Taj Bank Limited offer Sharia-compliant banking services, catering to the preferences of a significant segment of the population.

Not to be overlooked are the top players in the merchant banking sector, including Coronation Merchant Bank Limited and FBN Merchant Bank Limited, which play a pivotal role in facilitating investment and economic growth through specialized financial services.

Furthermore, financial holding companies such as Access Holdings Plc and FBN Holdings Plc provide a solid foundation for the banking sector’s stability and growth, offering a range of financial services and expertise.

Lastly, the Mauritius Commercial Bank Representative Office (Nigeria) Limited serves as a vital bridge between Nigeria and international financial markets, facilitating cross-border transactions and fostering economic ties.