Top List Commercial Banks In Nigeria: Head Office & Website

Top List Commercial Banks In Nigeria: Head Office & Website

Top List Commercial Banks In Nigeria: Head Office & Website

Banks In Nigeria – Nigeria has so many commercial banks, that in the future to come there would still be more banks to spring forth. And Have you ever try to consider which bank you would ever want to bank with? In this article I’ll give some details that comprises of:

1. How the banking system is regulated in Nigeria.
2. Top Commercial Banks In Nigeria.
3. Top Commercial Banks website.
4. Banks Head office location in Nigeria.
5. And what year these top commercial banks started.

So, let’s begin with:

How The Banking System Is Regulated In Nigeria

The primary legislation for the regulation of banks in Nigeria is the Banks and Other Financial Institutions Act (BOFIA) which, with the Central Bank of Nigeria (Establishment) Act 2007 (CBN Act), gives the Central Bank of Nigeria (CBN) powers to supervise and regulate banks and other financial institutions in Nigeria.


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Other relevant legislation includes the:

  • Companies and Allied Matters Act (Cap 59, Laws of the Federal Republic of Nigeria 1990 (CAMA), which regulates companies generally.
  • Nigerian Deposit Insurance Corporation Act, which is responsible for insuring all deposit liabilities of licensed banks.
  • Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, which established the Autonomous Foreign Exchange Market and provides the regulatory framework for foreign exchange transactions in Nigeria.

Top Commercial Banks In Nigeria

There are different types of banks in Nigeria. While some are licensed commercial banks for national operations, others too have been licensed by the CBN to run commercial banking services with international authorization.

Also check: 5 Nigerian Banks To Sources Funds For Business Without Collateral

Some banks also have merchant banking license with national authorization, even as we also have financial holding companies in Nigeria operating as financial institutions. Below is a list of banks in Nigeria, their address and operations across Nigeria.Banks in Nigeria

1. Access Bank

Originally a corporate bank, the organization acquired personal and business banking platforms from Nigeria’s International Commercial bank in 2012.

Access Bank is presently one of the five largest banks in Nigeria in terms of assets, loans, deposits and branch network. This bank later bought or acquired Intercontinental Bank, and also bought Diamond bank. They possess commercial banking license with international authorization

Head office location in Nigeria:

Their headquarters is located at 999c,
Danmole Street, Off Idejo Street,
Off Adeola Odeku Street,
Victoria Island, Lagos.

Banks website: http://www.accessbankplc.com

2. Citibank

Citibank Nigeria Limited provides various banking services to corporate and individual customers in Nigeria. The company provides deposit products, including demand, term, and savings accounts, as well as loan products.

It also offers various services comprising global transaction services, sales and trading, corporate finance, and investment banking services to corporate and commercial customers, financial institutions, and public sector organizations. In addition, the company provides direct custody and clearing services.

The company was formerly known as Nigeria International Bank Limited and changed its name to Citibank Nigeria Limited in 2008. Citibank Nigeria Limited was founded in 1984 in Lagos, Nigeria. Citibank Nigeria Limited operates as a subsidiary of Citibank Overseas Investment Corporation. They possess commercial banking license with national authorization.

Head office location in Nigeria:

They have their headquarters at 27,
Kofo Abayomi Street,
Victoria Island,
Lagos.

Banks website: http://www.citigroup.com/

3. Ecobank Nigeria

The operations of Ecobank Nigeria are supervised and regulated by the Central Bank of Nigeria (CBN) as well as the National Deposit Insurance Corporation (NDIC). Incorporated as a public limited liability company on October 7, 1986, Ecobank Nigeria is a key subsidiary of Africa’s leading independent banking group, Ecobank Transnational Incorporated (ETI).

Following the successful acquisition of Oceanic Bank International by the Ecobank group in 2011, Ecobank Nigeria has become a top tier bank in Nigeria in terms of assets, customer base, deposits and branches. The bank currently operates a consolidated on-line, real time branch network in over 600 locations across the country. They Also possess commercial banking license with national authorization.

Head office location in Nigeria:

Headquartered at 21,
Ahmadu Bello Way,
Victoria Island,
Lagos.

Banks website: http://www.ecobank.com

4. Enterprise Bank Limited

Enterprise Bank was formed in August 2011 by taking over the assets and some of the liabilities of the now defunct Spring Bank, whose commercial banking license was revoked. EBL was issued a commercial banking license on 5 August 2011.

Head office location in Nigeria:

Plot 143, Ahmadu Bello way,
Victoria Island,
Lagos.

Banks website: https://www.enterprisebanking.com/

5. Fidelity Bank Nigeria

Fidelity Bank Plc began operations in 1988 as Fidelity Union Merchant Bank Limited. By 1990, it had distinguished itself as the fastest growing merchant bank in the country.

However, to leverage the emerging opportunities in the commercial and consumer end of financial services in Nigeria, in 1999, it converted to commercial banking and changed its name to Fidelity Bank Plc. It became a universal bank in February 2001, with a license to offer the entire spectrum of commercial, consumer, corporate and investment banking services.

Head office location in Nigeria:

Headquartered at 2,
Kofo Abayomi Street,
Victoria Island, Lagos.

Banks website: http://www.fidelitybankplc.com

Also check:Top 5 Legitimate Online Business Opportunities in Nigeria

6. First Bank of Nigeria

First Bank of Nigeria Limited was established in 1894, is the premier Bank in West Africa, Nigeria’s number one bank brand and the leading financial services solutions provider in Nigeria.

In October 2011, the Bank acquired a new subsidiary, Banque International de Credit (BIC), one of the leading banks in the Democratic Republic of Congo. In November 2013, FirstBank acquired ICB in The Gambia, Sierra-Leone, Ghana and Guinea, and in 2014, the Bank acquired ICB in Senegal.

These were major landmarks in its plan for growing its sub-Saharan African footprint and all the African subsidiaries now bear the FBN Bank brand. They possess commercial banking license with international authorization.

Head office location in Nigeria:

They are located at Samuel Asabia House,
35 Marina,
Lagos.

Banks website: http://www.firstbanknigeria.com

7. First City Monument Bank

From its early origins in investment banking as City Securities Limited in 1977, FCMB, established in 1982, has emerged as one of the leading financial services institutions in Nigeria and one of the top eight lenders in the country with subsidiaries that are market leaders in their respective segments.

FCMB was incorporated as a private limited liability company on 20 April 1982 and granted a banking licence on 11 August 1983. On 15 July 2004, the Bank changed its status from a private limited liability company to a public limited liability company and was listed on the Nigerian Stock Exchange, by introduction, on 21 December 2004.

Head office location in Nigeria:

Headquartered at Primose Towers,
17a, Tinubu Street, Lagos.

Banks website: http://www.finbankplc.com

8. FSDH Merchant Bank

First Securities Discount House Limited, the precursor to FSDH Merchant Bank Limited, was incorporated in June 1992 as the first discount house to operate in Nigeria. In the new era, FSDH Merchant Bank Limited was one of the first merchant banks to be granted a licence to operate in Nigeria as a merchant bank.

Central Bank of Nigeria revoked all universal banking licenses in 2009 and created a new banking structure in the country. Under the new structure, banks are now categorised as commercial or merchant banks.

FSDA later applied for a Merchant Banking licence from the CBN which was granted in November, 2012.

Head office location in Nigeria:

Headquartered at UAC House, 5th-8th Floor, 1/5 Odunlami Street, P.M.B 12913, Lagos. They have merchant bank license with national authorization.

Banks website: https://fsdhgroup.com/

9. Guaranty Trust Bank

Guaranty Trust Bank plc was incorporated as a limited liability company licensed to provide commercial and other banking services to the Nigerian public in 1990. The Bank commenced operations in February 1991, and has since then grown to become one of the most respected and service focused banks in Nigeria.

In September 1996, Guaranty Trust Bank plc became a publicly quoted company and won the Nigerian Stock Exchange President’s Merit award that same year and subsequently in the years 2000, 2003, 2005, 2006, 2007, 2008 and 2009. In February 2002, the Bank was granted a universal banking license and later appointed a settlement bank by the Central Bank of Nigeria (CBN) in 2003.

Head office location in Nigeria:

Headquartered at 635,
Akin Adesola Street,
Victoria Island, Lagos.

Banks website: http://www.gtbank.com

10. Heritage Bank Plc

Heritage Bank Plc. (HB PLC), but often referred to as Heritage Bank, is a commercial bank in Nigeria. It is one of the commercial banks licensed by the Central Bank of Nigeria, the country’s banking regulator, with a National Operating License.

The bank traces its roots to the late 1980s, when it was founded as Societe Generale Bank (Nigeria) (SGBN). In January 2006, the Central Bank closed down SGBN on account of failure to meet new minimum capital requirements of US$155 million (NGN:25 billion) for a National Bank. SGBN successfully challenged the closure in court. In December 2012, CBN re-issued SGBN’s banking license, but as a regional bank.

The bank re-branded as Heritage Banking Company Limited and reopened for business under the new name on 4 March 2013.

In October 2014, Heritage Banking Company Ltd successfully met the requirements of the Asset Management Corporation of Nigeria (AMCON) and the Central Bank of Nigeria (CBN) toward owning 100% shares in Enterprise Bank Ltd.

On 27 January 2015, AMCON officially transferred ownership of Enterprise Bank Ltd to Heritage Bank Plc.

Head office location in Nigeria:

Headquartered at 292b,
Ajose Adeogun Street,
Victoria Island, Lagos.

Banks website: https://www.hbng.com/

11. Keystone Bank Limited

Keystone Bank Limited, commonly referred to as Keystone Bank, is a commercial bank in Nigeria. The bank is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator.

Keystone Bank offers banking services to large corporations, public institutions, small to medium enterprises (SMEs) and individuals. The bank is a large financial services provider in Nigeria.

They are formerly known as Bank PHB. On Friday 5 August 2011, Keystone Bank Limited was issued a commercial banking license by the Central Bank of Nigeria (CBN). On the same day, CBN revoked the banking license of Bank PHB. Keystone Bank assumed the assets and some liabilities of the now defunct Bank PHB.

On 22 March 2017, Asset Management Company of Nigeria announced that Keystone bank had been sold to investors for 25 billion naira ($81.5 million). It was sold to Sigma Golf-Riverbank consortium.

Head office location in Nigeria:

Headquartered at Keystone House,
1, Keystone Crescent,
Victoria Island, Lagos.

Banks website: http://www.keystonebankng.com

12. Rand Merchant Bank

RMB Holdings Limited (RMBH), previously known as Rand Merchant Bank Holdings, is a South African diversified financial servicesholding company. . They have merchant banking license with national authorization.

RMB Holdings is listed on the JSE with its headquarters in Sandton, South Africa.

In 1987, RMB Holdings was founded as the holding company for the expanding Rand Merchant Bank. RMB Holdings was listed through a reverse listing when it took control of Momentum Life on 1 July 1992.

Head office location in Nigeria:

Headquartered at 12th Floor,
Churchgate Towers,
2 Plot PC 31, Churchgate Street,
Victoria Island, Lagos.

Banks website: https://www.rmb.com.ng/

13. Polaris Bank

Polaris bank was once known as Skye Bank PLC, they decided to change their name due to some change in business management. They possess commercial banking license with international authorization.

Polaris Bank is a large financial services provider in West Africa and Central Africa. With headquarters in Nigeria, the bank maintains subsidiaries in Sierra Leone, the Gambia, the Republic of Guinea, Liberia, Angola and Equatorial Guinea.

The bank traces its origins back to 1989 when Prudent Bank Plc., was incorporated as a limited liability company. In 1990, the bank was issued a license as merchant bank. That same year, it re-branded as Prudent Merchant Bank Limited. In 2006, Prudent Merchant Bank Limited merged with four other banks to form Skye Bank Plc.:

  • Bond Bank Limited
  • EIB International Bank Plc.
  • Reliance Bank Limited
  • Co-operative Bank Plc.

Head office location in Nigeria:

Headquartered at 3, Akin Adesola Street,
Victoria Island,
Lagos.

Banks website: https://www.polarisbanklimited.com/

14. Stanbic IBTC Bank Nigeria Limited

Stanbic IBTC Holdings, commonly referred to as Stanbic IBTC, is a financial service holding company in Nigeria with subsidiaries in banking, stock brokerage, investment advisory, pension and trustee businesses. Stanbic IBTC Holdings is a member of the Standard Bank Group, a financial services giant based in South Africa. Standard Bank is Africa’s largest banking group ranked by assets and earnings operations in 20 African countries and 13 countries outside Africa.

Stanbic IBTC Holdings PLC. came to being as the result of a merger between Stanbic Bank Nigeria Limited and IBTC Chartered Bank Plc. in 2007, then adopting a holding company structure in 2012 to comply with the revised regulatory framework advised by the Central Bank of Nigeria requiring banks to either divest from non-core banking financial services or adopt a holdings company structure.

Stanbic Bank Nigeria Limited was founded in 1991 when Standard Bank Investment Corporation (Stanbic Bank), acquired the African operations of ANZ Grindlays Bank. The name was later changed to Stanbic Bank Nigeria Limited and was a wholly owned subsidiary of Stanbic Africa Holdings Limited (SAHL)..

Head office location in Nigeria:

Headquartered at IBTC Place,
Walter Carrington Crescent,
Victoria Island,
Lagos..

Banks website: http://www.stanbicibtc.com/

15. Standard Chartered Bank

Standard Chartered remained a shareholder of First Bank of Nigeria until 1996. Standard Chartered re-entered Nigeria in 1999 and opened to customers on 15 September 1999 as a wholly owned subsidiary of Standard Chartered Bank Plc, headquartered in United Kingdom..

Head office location in Nigeria:

Headquartered at 142, Ahmadu Bello Way,
Victoria Island,
Lagos.

Banks website: http://www.standardchartered.com/ng

16. Sterling Bank

Sterling Bank Plc originally incorporated in 1960 as Nigeria Acceptances Limited (NAL). The bank was licensed as Nigeria’s first merchant bank in 1969. Consequent to the indigenization decree of 1972, the Bank became fully government owned and was managed in partnership with Grindlays Bank Limited, Continental International Finance Company Illinois and American Express Bank Limited between 1974 and 1992.

In 1992, the Bank was partly privatized and listed as a public company on the Nigeria Stock Exchange (NSE). Eight years later, in 2000, the federal government sold its residual interest in the bank, effectively making it a fully privatized institution.

They acquired Equatorial Trust Bank at one point, also possess commercial banking license with national authorization.

Head office location in Nigeria:

Headquartered at Sterling Towers,
20 Marina,
Lagos.

Banks website: http://www.sterlingbankng.com

17. Union Bank of Nigeria

Union Bank of Nigeria Plc., commonly known as Union Bank of Nigeria, is a commercial bank in Nigeria. The bank has been operating in Nigeria since 1917.

The bank’s history can be traced to 1836 when London bankers and British merchants obtained a royal charter from William IV to conduct banking business in the Caribbean. These group of investors then formed Colonial Bank. Following an act of parliament empowering the bank to open more branches beyond the Caribbean, Colonial bank began operations in Nigeria in 1917.

The bank is owned by Union Global Partners Limited, they possess commercial banking license with international authorization

Head office location in Nigeria:

Headquartered at Stallion Plaza,
36 Marina,
Lagos.

Banks website: http://www.unionbankng.com

18. United Bank for Africa (UBA)

United Bank for Africa (UBA) Plc, is a leading pan-African financial services group headquartered in Nigeria. It is one of Africa’s best and most resilient banking Groups with operations in 20 African countries and offices in three global financial centers: London, Paris and New York.

UBA has been operating in Africa since 1949, referred to then as the British and French Bank Limited (BFB).[4] It took over the assets and liabilities of BFB and was incorporated as a limited liability company on 23 February 1961 under the Compliance Ordinance (Cap 37) 1922.

In 2005, it completed one of the biggest mergers in the history of Nigeria’s capital markets with the business combination with Standard Trust Bank (STB) Plc.

Head office location in Nigeria:

Headquartered at 57 Marina,
Lagos.

Banks website: https://www.ubagroup.com

19. Unity Bank Plc

Unity Bank, also known as Unity Bank plc, is a commercial bank in Nigeria. In January 2006, nine financial institutions with expertise in corporate banking, retail banking, as well as investment banking, came together to form Unity Bank plc.

Head office location in Nigeria:

Headquartered at Plot 785,
Herbert Macaulay Way,
Central Business District,
Abuja.

Banks website: http://www.unitybankng.com

20. Wema Bank

ncorporated in 1945 as a Private Limited Liability Company (under the old name of Agbonmagbe Bank Limited) and commencing banking operations in Nigeria the same year, Wema Bank later transformed into a Public Limited Company (PLC) in April 1987 and was listed on the floor of the Nigerian Stock Exchange (NSE) in January 1990.

On February 5, 2001, Wema Bank Plc was granted a universal banking licence by the Central Bank of Nigeria (CBN), thus allowing the Bank provide the Nigerian public with diverse financial and business advisory services.

Head office location in Nigeria:

Headquartered at Wema Towers,
54 Marina, Lagos Island,
Lagos.

Banks website: http://www.wemabank.com

21. Zenith Bank

Zenith Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). They possess commercial banking license with international authorization.

Head office location in Nigeria:

Headquartered at Plot 84,
Ajose Adeogun Street,
Victoria Island,
Lagos.

Banks website: http://www.zenithbank.com

22. Suntrust Bank Nigeria Limited

Suntrust Bank Nigeria Limited is a newly licensed Regional Commercial Bank and represent the first fresh banking license issued by the CBN since 2001. It is a privately held Commercial Bank licensed by the Central Bank of Nigeria under the BOFIA.

Head office location in Nigeria:

Headquartered at 1,
Oladele Olashore Street,
Victoria Island,
Lagos.

Banks website: https://www.suntrustng.com/

23. Providus bank Plc

Providus Bank Limited (PBL), is a Nigerian financial services provider, licensed as a commercial bank, by the Central Bank of Nigeria, the central bank and national banking regulator. The bank was granted a regional banking license by the Central Bank of Nigeria in June 2016.

Head office location in Nigeria:

Headquartered at Plot 54,
Adetokunbo Ademola Street,
Victoria Island,
Lagos.

Banks website: https://www.providusbank.com

24. Jaiz Bank Limited

Jaiz Bank Plc, is a bank in Nigeria operating under Islamic banking principles and is a non-interest bank. It is the first non-interest bank established and is headquartered in Abuja, the capital city of the country.

As of December 2012, the bank was a medium-sized, financial services provider in Nigeria.

The institution was founded in 2003, as Jaiz International Plc. On 11 November 2011, Jaiz International received a license from the Central Bank of Nigeria, the national banking regulator, to operate as a regional bank. On 6 January 2012, the institution commenced business as Jaiz Bank Plc in offices and branches in Abuja, Kaduna and Kano

Head office location in Nigeria:

Headquartered at Kano House,
Plot 73, Ralph Shodeinde Street,
Central Business District,
Abuja.

Banks website: https://jaizbankplc.com/

25. FCMB Group Plc

First City Monument Bank (FCMB) Ltd is a full service banking group, headquartered in Lagos, with the vision ‘to be the premier financial services group of African origin.

The entity from which the bank was founded City Securities Limited, was established in 1977 by Oloye Subomi M. Balogun, the Otunba Tunwashe of Ijebu, a Yoruba tribal aristocrat. First City Monument Bank Ltd. was incorporated as a private limited liability company on 20 April 1982 and granted a banking licence on 11 August 1983. It was the first bank to be established in Nigeria without government or foreign support.

On 15 July 2004, FCMB changed its status from a private limited liability company to a public limited liability company and was listed on the Nigerian Stock Exchange (NSE) by introduction on 21 December 2004.

In November 2010, both FinBank and First City Monument Bank (FCMB) announced that FCMB has expressed interest in acquiring shareholding and become the strategic investor in FinBank, another Nigerian commercial bank that was undercapitalized.

Head office location in Nigeria:

Headquartered at First City Plaza,
44 Marina,
Lagos.

Banks website: https://www.fcmb.com/

26. Stanbic IBTC Holdings Plc

Stanbic IBTC Holdings, commonly referred to as Stanbic IBTC, is a financial service holding company in Nigeria with subsidiaries in banking, stock brokerage, investment advisory, pension and trustee businesses.

Stanbic IBTC Holdings is a member of the Standard Bank Group, a financial services giant based in South Africa. Standard Bank is Africa’s largest banking group ranked by assets and earnings operations in 20 African countries and 13 countries outside Africa.

Investment Banking & Trust Company Plc (IBTC) was formed as an Investment Bank on 2 February 1989 with Atedo N.A. Peterside Chief Executive Officer.

Head office location in Nigeria:

Headquartered at I.B.T.C Place,
Walter Carrington Crescent,
P.O. Box 71707,
Victoria Island,
Lagos.

Banks website: https://www.stanbicibtc.com/

Also check: 25 Business Ideas For University, Polytechnic Students In Nigeria

27. Coronation Merchant Bank

Coronation Merchant Bank was founded as Associated Discount House Limited (“ADHL”) in 1993 by a consortium of reputable financial institutions. ADHL, which was licensed by the Central Bank of Nigeria to provide liquidity for sovereign debt notes and money market instruments, became a leading financial services institution, thriving throughout the tough period of the Nigerian economy.

Head office location in Nigeria:

Headquartered at St. Nicholas House,
6th Floor, 28A, Catholic Mission Street,
P.M.B 12511,
Marina,
Lagos.

Banks website: https://www.coronationmb.com/

In conclusion, I hopefully believe this article is helpful enough to guide you in contacting Nigeria Banks easily.

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