Goodness Eminue

The Central Bank of Nigeria unveiled a comprehensive list of licensed Money Deposit Banks (MDBs) on Tuesday, May 7, 2024, marking a significant update for the country’s financial sector. 

The list, which was published on the Apex bank’s website yesterday, highlights the names and locations of banks authorized to operate in Nigeria, notably all headquartered in Lagos state.

Among the MDBs holding international authorization are Access Bank, Fidelity Bank Plc, First City Monument Bank Limited (FCMB), First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.

Additionally, the roster includes commercial banks with national authorization such as Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited, and Optimus Bank Limited.

Noteworthy regional players encompass Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited, all operating under regional licenses.

In the non-interest banking sector, institutions with national authorization include Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.

For merchant banking services, the CBN’s list comprises Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited.

Furthermore, financial holding companies featured in the roster are Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited.

The sole representative office listed is the Mauritius Commercial Bank Representative Office (Nigeria) Limited.


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