Nigeria is one of the most populous countries in Africa, with a booming economy and a diverse financial sector. The banking industry in Nigeria is one of the largest in Africa, with a mix of local and international banks serving the country’s growing population.
So, how many banks are in Nigeria exactly? As of 2023, there are 30+ digital and commercial banks operating in Nigeria. These banks are regulated by the Central Bank of Nigeria (CBN), which is responsible for maintaining stability in the banking industry.
Some of them are First Bank of Nigeria, Access Bank, Zenith Bank, Standard Chartered, Citibank, Kuda Bank, Carbon, and others.
Let’s go deeper.
What You Need To Know About Banks In Nigeria
First, let’s get a little history lesson. The first bank in Nigeria was established in 1892 by the British colonial government.
Since then, the banking sector has grown and evolved, with the Central Bank of Nigeria (CBN) playing a key role in regulating and supervising the industry.
As of 2023, at least 30 digital and commercial banks are operating in Nigeria, with more springing up daily.
Each bank offers its unique services and products, from savings accounts and loans to online banking and mobile payments.
Did you know that “Wema Bank,” stands for “Western Education in Modern Age”?
Jaiz Bank is also named after a concept in Islamic finance. It has a fun, catchy slogan: “Banking for the ethical minded.”
The banking industry in Nigeria plays a critical role in the country’s economic development.
Banks provide access to financial services, support entrepreneurship and job creation, and drive innovation and technological advancement.
The CBN has worked to strengthen the sector’s stability and sustainability, ensuring that banks are well-capitalized and able to withstand economic shocks.
However, one of the most recent changes in the banking industry is the introduction of digital banks.
These banks operate solely online, allowing customers to carry out transactions without visiting a physical branch. This innovation has made banking more convenient for Nigerians, especially those who live in rural areas.
How Many Banks Are In Nigeria?
There are currently 30+ digital and commercial banks operating in Nigeria. We have collated a list of these banks below.
Commercial Banks In Nigeria
1. Access Bank
Access Bank is a leading Nigerian commercial bank that was founded in 1989. It is a full-service bank offering various financial products and services to individuals, small businesses, corporations, and government institutions.
The bank has a presence in multiple countries, including Nigeria, Ghana, Gambia, Sierra Leone, Zambia, and the UK.
The bank’s website, www.accessbankplc.com, is a one-stop shop for all banking needs, providing information on accounts, loans, and other services.
Customers can also access their accounts, transfer money, and pay bills through the website or the Access Bank mobile app.
For inquiries or assistance, customers can reach Access Bank’s customer care team at +234 1-2712005-7 or via email at contactcenter@accessbankplc.com.
2. CitiBank Nigeria
Their website, www.citigroup.com, provides users with easy access to the bank’s offerings, including account opening, online banking, and investment options.
But let’s be real, who actually enjoys banking? It’s like trying to decipher ancient hieroglyphics, am I right?
Well, fear not because Citibank Nigeria’s customer care number is here to save the day. Just dial +23412709100 and let their team of experts guide you through the jungle of financial jargon.
3. Coronation Merchant Bank
Their website, www.coronationmb.com, offers users easy access to their services, including corporate banking, investment banking, and wealth management.
You can access their customer care via +234-1-270-4880.
Their team of experts is always on hand to guide you through any financial puzzle with a smile and a joke or two.
4. Ecobank Nigeria
Their website, www.ecobank.com, provides easy access to their services, including personal banking, business banking, and online banking.
But let’s face it, banking can be a headache-inducing experience. Ecobank’s customer care number, +2348003262265, is here to save the day.
Their team of experts is always ready to help you navigate the murky waters of finance.
5. Fidelity Bank
Their website, www.fidelitybank.ng, provides users with easy access to their services, including personal banking, business banking, and online banking.
Fidelity Bank’s customer care number, +2349030005252, is available 24/7.
Their team of experts is always ready to guide you through any banking puzzle with a dash of humor and a whole lot of patience.
6. First Bank of Nigeria
First Bank, also known as First Bank of Nigeria, is one of Nigeria’s oldest and most trusted financial institutions.
With a history spanning over 125 years, they have established a strong reputation for providing reliable banking services to their customers.
Their website, www.firstbanknigeria.com, is a treasure trove of information for anyone looking to open an account or access their services.
First Bank’s customer care number is always available to help with any issues you may encounter. They are available on 07080625000.
So, whether you’re a serious investor or someone looking for a bank that can handle your monkey business, First Bank is definitely worth considering.
7. First City Monument Bank
FCMB, short for First City Monument Bank, is a Nigerian financial institution that offers a range of banking services, including personal, business, and corporate banking.
The website www.fcmb.com features easy navigation and a range of self-service options that enable customers to carry out various transactions without having to visit a physical branch.
Additionally, FCMB has a customer care line that operates 24/7 and is staffed by well-trained representatives who are always available to attend to customer queries and provide assistance as needed. The number is 01 279 8800.
8. Globus Bank
Globus Bank is a new-generation financial institution in Nigeria that offers innovative banking solutions to its customers.
The bank’s website, www.globusbank.com, provides customers with a seamless banking experience with its user-friendly interface, secure online banking, and range of digital banking products.
Customers can easily carry out transactions such as bill payments, fund transfers, and account management from the comfort of their homes.
Globus Bank’s customer care number, 0700GLOBUS1 (07004562871), is available 24/7 to provide assistance to customers and resolve any issues they may have.
9. Guaranty Trust Bank
Guaranty Trust Bank, commonly referred to as GTB, is a leading financial institution in Nigeria with a reputation for innovation and excellence.
The bank’s website, www.gtbank.com, provides customers with a seamless online banking experience, with features such as internet banking, mobile banking, and online account opening.
With a focus on customer satisfaction, GTB has a customer care line, 0700 4826 66328, available 24/7 to attend to customer inquiries, resolve complaints, and provide assistance with banking transactions.
GTB’s commitment to innovation and customer service has earned it numerous awards, making it a top choice for individuals and businesses looking for reliable banking solutions in Nigeria.
10. Heritage Bank
The bank’s website, www.hbng.com, provides customers with a convenient platform to access its products and services, including internet banking, mobile banking, and online account opening.
The website also offers a range of self-service options, enabling customers to carry out various transactions without visiting a physical branch.
Heritage Bank’s customer care number, 0700HERITAGE (070043748243), is available 24/7 to provide assistance to customers and resolve any issues they may have.
11. Keystone Bank
The bank’s website, www.keystonebankng.com, provides customers with a user-friendly platform to access its products and services, including internet banking, mobile banking, and online account opening.
Keystone Bank’s website also features a range of self-service options, enabling customers to carry out various transactions without visiting a physical branch.
The bank’s customer care number, 0700 2000 3000, is available 24/7 to provide assistance to customers and resolve any issues they may have.
12. Providus Bank
Their website, www.providusbank.com, provides customers with a user-friendly platform to access its products and services, including internet banking, mobile banking, and online account opening.
Providus Bank’s website also features a range of self-service options, enabling customers to carry out various transactions without visiting a physical branch.
The bank’s customer care number, 01-277-4000, is always available to provide assistance to customers and resolve any issues they may have.
13. Polaris Bank
The bank’s website, www.polarisbanklimited.com, provides customers with a convenient platform to access its products and services, including internet banking, mobile banking, and online account opening.
The website also features a range of self-service options, enabling customers to carry out various transactions without visiting a physical branch.
Polaris Bank’s customer care number, 0700-7652747, is available 24/7 to provide assistance to customers and resolve any issues they may have.
14. Stanbic IBTC Bank
Stanbic IBTC Bank is another leading Nigerian financial institution that offers a range of banking services to individuals and businesses.
The bank’s website, www.stanbicibtcbank.com, provides customers with a user-friendly platform to access its products and services, including internet banking, mobile banking, and online account opening.
Stanbic IBTC Bank’s customer care number, 01 422 2222, is available 24/7 to provide assistance to customers and resolve any issues they may have.
15. Standard Chartered Bank Nigeria
Their website, www.sc.com/ng/, provides customers with a user-friendly platform to access its products and services, including internet banking, mobile banking, and online account opening.
The website also features a range of self-service options, enabling customers to carry out various transactions without visiting a physical branch.
Standard Chartered Bank of Nigeria’s customer care number, +234 1 270 4611-4, is always available 24/7 to take complaints and resolve issues.
16. Sterling Bank
Established in 1960, the bank has a strong reputation for delivering innovative financial solutions to its customers.
If you want to learn more about Sterling Bank, their website URL is https://sterling.ng/. Here, you can explore the bank’s range of services, including personal and business banking, investment solutions, and digital banking options.
If you have any questions or concerns, Sterling Bank’s customer care team is available to assist you.
You can reach them by calling +234 700 783 5464 or sending an email to customercare@sterling.ng.
17. SunTrust Bank
Are you tired of banking with institutions that take themselves too seriously? Look no further than SunTrust Bank!
This bank has been providing excellent service to customers for over 125 years, and they do it all with a smile.
If you want to learn more about SunTrust Bank, head over to their website at www.suntrust.com.
Here, you can check out their fantastic range of banking services, including checking and savings accounts, mortgages, and investment options.
But wait, there’s more! The SunTrust Bank customer care team is always ready to help if you have any questions.
Just call them at 1-800-SUNTRUST or visit a branch near you. Trust me, they’ll make your banking experience a breeze.
18. Titan Trust Bank
If you are searching for a reliable bank that’s as strong as its name suggests, look no further than Titan Trust Bank!
With a name like that, you know they mean business.
To learn more about their services, head over to their website at www.titantrustbanking.com. Their website is user-friendly and informative, making it easy for you to explore all that they have to offer.
If you need help with anything, Titan Trust Bank’s customer care team is always available to assist you. Just give them a call at +234 1 277 8787 or send an email to info@titantrustbanking.com.
19. Union Bank of Nigeria
Looking for a bank that’s been around since the dinosaurs?
Okay, not quite that long, but to put it in context, Union Bank has been providing top-notch banking services since 1917.
That’s over 100 years of experience!
To learn more about Union Bank’s services, check out their website at www.unionbankng.com. They offer a wide range of banking options, including personal and business accounts, loans, and investment opportunities.
And if you need help with anything, Union Bank’s customer care team is always happy to assist. Just give them a call at +234-1-2716816 or shoot them an email at customerservice@unionbankng.com.
20. United Bank for Africa
If you’re looking for a bank that’s as united as its name suggests, look no further than United Bank for Africa (UBA).
This African-based bank has been providing top-notch banking services for over 70 years.
To explore UBA’s services, visit their website at www.ubagroup.com.
They offer various banking solutions, including personal and business accounts, loans, and digital banking options.
And if you need help with anything, UBA’s customer care team is always ready to assist you.
Just give them a call at +234 700 2255 822 or send an email to cfc@ubagroup.com.
21. Unity Bank
This is a bank that is all about unity and community.
To explore Unity Bank’s services, head over to their website at www.unitybankng.com.
You’ll find a wide range of banking options, including personal and business accounts, loans, and investment opportunities.
And if you need help with anything, Unity Bank’s customer care team is always ready to lend a hand. Just give them a call at +234 708 066 5555 or shoot them an email at we_care@unitybankng.com.
22. Wema Bank
Looking for a bank that’s got your back? Look no further than Wema Bank!
This bank has been providing top-notch banking services since 1945, and they’re not slowing down anytime soon.
To explore Wema Bank’s services, head over to their website at www.wemabank.com. They offer a wide range of banking options, including personal and business accounts, loans, and digital banking solutions.
And if you need help with anything, Wema Bank’s customer care team is always happy to assist.
Just give them a call at +234-803-900-3700 or shoot them an email at purpleconnect@wemabank.com.
23. Zenith Bank
They have been providing exceptional banking services for over 30 years.
To explore Zenith Bank’s services, head over to their website at www.zenithbank.com. They offer a wide range of banking options, including personal and business accounts, loans, and investment opportunities.
And if you need help with anything, Zenith Bank’s customer care team is always ready to assist.
Just give them a call at +234-1-2787000 or send an email to zenithdirect@zenithbank.com.
Digital Banks In Nigeria
1. Kuda Bank
Kuda Bank is a fintech startup that has taken the Nigerian banking world by storm.
Founded in 2019, these guys are like the new kid on the block who suddenly shows up and starts kicking butts.
With their sleek mobile app, zero account fees, and a laser focus on customer satisfaction, Kuda Bank is quickly becoming the darling of the Nigerian banking scene.
If you’re curious to check out their website, you can find them at https://kudabank.com/. And if you have any questions or concerns, you can always reach out to their customer care number at 0800-999-9999. But be warned, these folks are so friendly and helpful that you might talk to them all day!
2. ALAT by Wema Bank
ALAT is a digital bank that is making waves in Nigeria.
Founded in 2017 by the innovative minds at Wema Bank, ALAT is the perfect combination of cutting-edge technology and good old-fashioned banking know-how.
With their website at https://www.alat.ng/ and customer care number at 070022552528, ALAT is changing the way Nigerians think about banking.
What I love most about ALAT is its commitment to making banking simple and accessible.
They’ve combined all the best features of traditional banking with the convenience and ease of use of a digital platform.
It’s like having a bank in your pocket!
3. Rubies Bank
Rubies Bank is a Nigerian digital bank that prides itself on providing exceptional customer service and innovative financial solutions.
Founded in 2019, the bank has quickly become a favorite among millennials, who appreciate the bank’s no-nonsense approach to banking.
Rubies Bank has quickly become the talk of the town with a website that’s as sleek as a brand-new Ferrari and a customer care number that’s as reliable as a Nigerian taxi driver.
And if you’re ever in doubt about their commitment to customer service, just give them a call, and you’ll be greeted by a friendly voice that’s as warm as a plate of jollof rice.
So if you want to avoid dealing with traditional banks as outdated as a Nokia 3310, head over to Rubies Bank’s website at www.rubiesbank.com and sign up for an account today.
4. V Bank
V Bank, the Nigerian digital bank that has taken the fintech world by storm!
Founded in 2020, V Bank is the brainchild of the dynamic duo of Dr. Austin Okere and Tayo Oviosu.
With a website that is as sleek as it is user-friendly (check them out at www.vbank.ng), V Bank has quickly become the go-to bank for millennials and Gen Z-ers looking for a banking experience that is fast, efficient, and, most importantly, hassle-free.
But don’t let the cutting-edge technology fool you – V Bank takes customer service seriously. It is always ready to go above and beyond for its customers.
Just call them at +234-1-700-VBANK or drop them a message on social media, and their friendly customer care team will be there to help you.
5. Sparkle
Sparkle, the new kid on the block in the Nigerian fintech scene!
Founded by tech entrepreneur Uzoma Dozie, Sparkle is a digital bank that is all about making banking easier and more accessible for everyone.
And with a website that is as sleek as it is user-friendly (check them out at www.sparkle.ng), Sparkle is quickly becoming the go-to bank for anyone looking for a hassle-free banking experience.
But what really sets Sparkle apart is its commitment to customer service. Whether you need help with a transaction or just have a question about your account, their customer care team is always ready to assist you.
Just give them a call at +234-700-SPARKLE or drop them a message on social media, and they’ll be there to help you out.
6. Eyowo
Eyowo, the Nigerian digital wallet that has made banking accessible to everyone!
Founded in 2019 by a team of tech enthusiasts, Eyowo is all about making payments easy and hassle-free.
And with a website that is as simple as it is functional (check them out at www.eyowo.com), Eyowo is quickly becoming the go-to wallet for anyone looking to make payments on the go.
Their team is always ready to assist in any way you want.
Just give them a call at +234-909-391-8393 or drop them a message on social media, and they’ll be there to chat.
7) Carbon
Carbon Digital Bank is the bank for the digitally-savvy, the tech-savvy, and those who don’t like leaving their house.
And who does?
I mean, who wants to deal with traffic, parking, and human interaction when you can do everything online?
Carbon Digital Bank was founded in 2016 in Lagos, Nigeria, with the aim of providing a seamless banking experience to Nigerians.
And they have been doing just that.
Their website, www.getcarbon.co, is a one-stop shop for all your banking needs. And their customer care number is just a phone call away at +234-700-227266.
8. GtWorld by Guaranty Trust Bank
GTWorld is not your average bank. They’re the cool kids on the block who always have the latest gadgets and know all the cool hangout spots.
They were launched by Guaranty Trust Bank in 2017, and since then, they’ve been taking the Nigerian banking scene by storm.
Their website, www.gtworld.gtbank.com, is a sleek and modern platform for all your banking needs.
And if you ever need to talk to someone, their customer care number is +234-700-482666328.
9. FirstMobile by First Bank of Nigeria
FirstMobile is like that reliable friend who always has your back.
They were launched by First Bank Nigeria in 2015. Since then, they’ve been making banking easier and more accessible for Nigerians.
Their website, www.firstbanknigeria.com, is a user-friendly platform that allows you to access all your banking needs with just a few clicks.
And if you ever need help, their customer care number is just a call away at +234-1-9052326.
Moniepoint
Moniepoint is like that friend who’s always there to help you out when you need it most.
They were launched in 2019 and have since become one of Nigeria’s fastest-growing payment processing companies.
Their website, www.moniepoint.com, is a user-friendly platform that easily allows you to process payments.
Their customer care number is +234-903-846-3939.
10. Opay
O Pay was launched in 2019 and has since become one of Nigeria’s most popular mobile payment platforms.
Their website, www.opay.com, is a user-friendly platform that allows you to pay bills, transfer money and buy airtime easily.
And you can contact them via their customer care number at +234-700-673-6986.
But the best thing about O Pay is that they understand the struggles of modern life.
They know that sometimes, you need a little help to get by.
That’s why they offer discounts and cashback rewards for using their platform. It’s like they’re your personal financial coach, helping you save money while you spend it.
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Frequently Asked Questions
How Does One Open A Bank Account In Nigeria?
To open a bank account in Nigeria, you will need to provide a valid form of identification, proof of address, and a minimum deposit amount. Some banks also require additional documentation, such as a passport or utility bill.
Are Nigerian Banks Safe?
Yes, Nigerian banks are generally considered safe and secure. The CBN regulates and supervises the banking industry to ensure that banks are well-capitalized and have appropriate risk management practices in place.
How Do I Choose A Bank In Nigeria?
When choosing a bank in Nigeria, consider factors such as the bank’s reputation, services and products offered, fees and charges, and location. You may also want to compare interest rates and account features to find the best fit for your needs.
Can Non-Nigerians Open Bank Accounts In Nigeria?
Yes, non-Nigerians can open bank accounts in Nigeria. However, some banks may require additional documentation, such as a work permit or residence permit.
How can I access my bank account in Nigeria from abroad?
Many Nigerian banks offer online and mobile banking services, allowing you to access your account from anywhere in the world. You may also be able to use international ATMs or wire transfer services to manage your account from abroad.
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Conclusion
In conclusion, Nigeria’s banking industry is a critical component of the country’s economy, providing access to financial services, supporting entrepreneurship and job creation, and driving innovation and technological advancement.
With more than 30 banks operating in the country, there is no shortage of options for consumers looking to manage their finances.
So, you have been curious about how many banks are in Nigeria, both commercial and digital.
In that case, this article is your one-stop shop.