The Central Bank of Nigeria has recently unveiled a catalogue of licensed Deposit Money Banks operating across the nation.
This comprehensive list revealed on the CBN’s official X account on Tuesday, May 7, 2024, encompasses various categories of financial institutions.
Among those with international authorization are Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.
For commercial banks holding national authorization, the lineup includes 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.
Others holding regional licenses consist of Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited.
Additionally, players in the non-interest banking sector like Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited, have received national authorization.
In the merchant banking category, leading institutions such as 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 are recognized.
Furthermore, financial holding companies like 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 have been listed.
Lastly, the Mauritius Commercial Bank Representative Office (Nigeria) Limited has been identified as the sole representative office on the roster.
CBN Mandates Cybersecurity Levy on Electronic Transfers, Exemptions Unveiled
Meanwhile, DAILY INSIDER reported earlier that the Central Bank of Nigeria (CBN) instructed all banks to impose a 0.5 per cent cybersecurity levy on electronic transfers.
This directive was outlined in a circular signed by Chibuzor Efobi, Director of Payments System Management, and Haruna Mustafa, Director of Financial Policy and Regulation, and posted on the apex bank’s X account on Monday, May 6, 2024.