Names Of The 14 National Banks in Nigeria, Full List and Top 10 Banks
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- 24.09.2025
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Names Of The 14 National Banks in Nigeria, Full List and Top 10 Banks
Learn about Nigeria’s banking sector: the 14 national banks, the names of all licensed banks in the country, and the top 10 banks ranked by size, reputation, and performance in 2025.
Nigeria’s banking industry is one of the largest and most dynamic in Africa. Regulated by the Central Bank of Nigeria (CBN), it consists of commercial banks, merchant banks, non-interest banks, microfinance banks, and other financial institutions. Among them, national banks play a crucial role by providing nationwide financial services.
This guide explores the 14 national banks in Nigeria, the full list of all banks licensed by the CBN, and highlights the top 10 banks based on assets, market share, and customer base.
What Are the 14 National Banks in Nigeria?
The term “national banks” in Nigeria refers to commercial banks licensed by the CBN to operate across the entire country (but not necessarily internationally). These banks maintain branches in multiple states and provide financial services to individuals, businesses, and government institutions nationwide.
As of 2025, the following 14 banks hold national banking licenses in Nigeria:
- 1. Access Bank Plc
- 2. Zenith Bank Plc
- 3. First Bank of Nigeria Limited
- 4. United Bank for Africa (UBA) Plc
- 5. Guaranty Trust Holding Company (GTCO/GTBank)
- 6. Fidelity Bank Plc
- 7. Union Bank of Nigeria Plc
- 8. Stanbic IBTC Bank Plc
- 9. Ecobank Nigeria Limited
- 10. Keystone Bank Limited
- 11. Wema Bank Plc
- 12. Polaris Bank Limited
- 13. Unity Bank Plc
- 14. Sterling Bank Plc
These institutions provide a wide range of services including loans, savings, investments, international transfers, and corporate banking solutions. They are regulated under the Bank and Other Financial Institutions Act (BOFIA) and subject to oversight by the CBN.
What Are the Names of All the Banks in Nigeria?
Nigeria’s banking system consists of commercial banks (international, national, and regional), merchant banks, non-interest banks, and microfinance institutions. Below is the comprehensive list of all commercial banks licensed by the CBN as of 2025:
Commercial Banks with International Authorization
- Access Bank Plc
- Zenith Bank Plc
- First Bank of Nigeria Limited
- United Bank for Africa Plc
- Guaranty Trust Holding Company (GTCO/GTBank)
Commercial Banks with National Authorization
- Fidelity Bank Plc
- Union Bank of Nigeria Plc
- Stanbic IBTC Bank Plc
- Ecobank Nigeria Limited
- Keystone Bank Limited
- Wema Bank Plc
- Polaris Bank Limited
- Unity Bank Plc
- Sterling Bank Plc
Commercial Banks with Regional Authorization
- SunTrust Bank Nigeria Limited
- Providus Bank Limited
- Globus Bank Limited
- Parallex Bank Limited
- Signature Bank Limited
- Taj Bank Limited (Non-Interest Bank)
Merchant Banks in Nigeria
- FBNQuest Merchant Bank
- Coronation Merchant Bank
- Rand Merchant Bank Nigeria
- Nova Merchant Bank
Non-Interest (Islamic) Banks
- Jaiz Bank Plc
- TAJ Bank Limited
- Lotus Bank Limited
This list highlights the diversity of Nigeria’s banking industry, which caters to different market segments—from corporate and retail banking to Islamic and merchant banking services.
What Are the Top 10 Banks in Nigeria?
The ranking of the top banks in Nigeria can vary based on criteria such as total assets, market capitalization, profitability, and customer base. However, as of 2025, the following are widely regarded as the top 10 banks in Nigeria:
- Access Bank Plc: Currently Nigeria’s largest bank by assets and customer base, following several high-profile mergers and acquisitions.
- Zenith Bank Plc: Known for consistent profitability, strong capital base, and digital innovation in banking services.
- First Bank of Nigeria Limited: One of Nigeria’s oldest banks with extensive branch networks and deep market penetration.
- United Bank for Africa (UBA) Plc: A pan-African bank with operations in over 20 African countries and beyond.
- Guaranty Trust Holding Company (GTCO/GTBank): Renowned for excellent customer service, technology-driven banking, and strong shareholder returns.
- Stanbic IBTC Bank Plc: A subsidiary of Standard Bank Group, specializing in corporate and investment banking services.
- Fidelity Bank Plc: Rapidly growing in retail and SME banking, with innovative digital platforms.
- Ecobank Nigeria Limited: Part of the Ecobank Transnational Inc. group with a strong pan-African footprint.
- Union Bank of Nigeria Plc: One of Nigeria’s oldest banks undergoing a modern transformation and expansion.
- Wema Bank Plc: Nigeria’s pioneer digital bank with its ALAT platform and strong SME support.
These banks dominate Nigeria’s financial landscape in terms of assets, customer reach, and technological innovation, making them the preferred choice for individuals, businesses, and institutional clients.
Key Takeaways for Investors and Customers
- Nigeria currently has 14 national banks licensed to operate nationwide.
- The full list of banks includes commercial, merchant, and non-interest banks regulated by the CBN.
- The top 10 banks are led by Access Bank, Zenith Bank, and First Bank of Nigeria based on size and performance.
- Customers should choose banks based on factors like branch accessibility, digital platforms, fees, and customer service.
- Investors can look at banks’ capital adequacy ratios, profitability, and market share when making decisions.
Nigeria’s banking sector remains one of the most vibrant in Africa. With 14 national banks, a growing number of regional banks, and a diverse mix of merchant and non-interest banks, customers have a wide range of options for financial services. The top 10 banks continue to set the pace for innovation, profitability, and market leadership.
Understanding the landscape—knowing which banks are licensed nationally, which banks dominate in size, and how the sector is evolving—helps individuals and businesses make informed financial decisions. Whether you are seeking a bank for savings, loans, or investments, Nigeria’s banking sector offers a robust and competitive environment.
