CBN publishes list of authorized deposit banks in Nigeria

The Central Bank of Nigeria has announced 44 lists of licensed deposit money banks in Nigeria.

The apex bank revealed this in a list published on its official website on Tuesday.

According to CBN, 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.

Likewise, fifteen banks have commercial banking licenses with National Authorization.

Similarly, four banks have commercial banking licenses with regional authorization and four non-interest banks have national authorization.

The bank said the country has six commercial banks with national license and authorization.

He indicated that the financial holdings increased to seven.

CBN added that the country has a representative office of commercial banks in Mauritius.

The listing comes months after the CBN increased the minimum capital requirement for all banks in Nigeria to strengthen the country’s financial sector.