The CBN list of banks in Nigeria is an important reference for individuals and businesses looking to verify banking institutions operating under the Central Bank of Nigeria (CBN) regulatory framework. Nigeria has several categories of licensed banks, including commercial banks, non-interest banks, and merchant banks, each operating under specific types of banking licences.
The CBN regulates and supervises banks and other financial institutions in Nigeria. Its published banking information distinguishes deposit money banks by licence type. At the same time, the CBN’s statistical framework identifies commercial banks, merchant banks, and non-interest banks as categories within the banking system.
Because bank licences and institutional status can change, readers should always verify the latest information directly with the CBN before making financial or compliance decisions.
What Is the CBN List of Banks in Nigeria?
The CBN list of banks in Nigeria refers to banks licensed and regulated by the Central Bank of Nigeria.
The CBN’s published list of deposit money banks groups institutions according to categories such as:
The CBN’s official published list also provides information such as the institution’s name and head-office location.
Full CBN List of Banks in Nigeria
The following list is based on the CBN’s published List of Deposit Money Banks as at April 26, 2024. Since banking licences and institutions can change, this should be treated as a reference list rather than a guarantee of current licence status in September 2026.
Commercial Banks with International Authorisation
According to the CBN’s published list, the following institutions were listed under commercial banking licences with international authorisation:
These banks have historically operated with broad banking capabilities and international authorisation under the CBN’s licensing framework.
Commercial Banks with National Authorisation
The CBN’s April 2024 list included the following institutions under commercial banking licences with national authorisation:
Important: Some institutions on historical CBN lists may subsequently have undergone regulatory changes. For example, the CBN announced the revocation of Heritage Bank’s banking licence in June 2024, so readers should not assume that every institution appearing on the April 2024 list remains licensed today.
Non-Interest Banks
Nigeria also has banks operating under non-interest banking licences.
Examples appearing in CBN banking records include:
The CBN’s historical deposit-money-bank records identify Jaiz Bank under non-interest banking and list TAJBank and Lotus Bank under non-interest banking categories.
Non-interest banks operate according to principles that differ from conventional interest-based banking and are regulated within the Nigerian banking system.
Merchant Banks in Nigeria
Merchant banks provide specialised financial services and operate under merchant banking licences.
CBN records have included institutions such as:
The exact list can change over time, so current licence status should be confirmed through the CBN.
CBN-Licensed Banks by Banking Category
|
Banking Category |
Examples |
|
Commercial Banks – International Authorisation |
Access Bank, Fidelity Bank, FirstBank, GTBank, UBA, Zenith Bank |
|
Commercial Banks – National Authorisation |
Ecobank, Keystone Bank, Stanbic IBTC, Standard Chartered, Wema Bank |
|
Non-Interest Banks |
Jaiz Bank, TAJBank, Lotus Bank |
|
Merchant Banks |
Coronation Merchant Bank, FBN Merchant Bank, FSDH Merchant Bank, Nova Merchant Bank |
The CBN’s framework recognises commercial, merchant and non-interest banks as distinct forms within the deposit-money banking system.
What Does CBN Bank Licensing Mean?
A bank licence indicates that an institution has been authorised by the CBN to conduct banking activities within the scope of its licence.
The licence category matters because different types of institutions may have different permitted activities and operating structures.
For consumers, businesses and financial professionals, checking the licensing status of a financial institution can be an important part of assessing whether the organisation is authorised to provide the relevant services.
How Does the CBN Regulate Banks in Nigeria?
The CBN plays a central role in regulating and supervising Nigeria’s banking sector.
Its responsibilities include areas such as:
The CBN also publishes regulatory information and banking-sector data to support transparency and supervision.
For example, the CBN maintains statistical information covering deposit money banks and the broader monetary and financial sector.
How to Verify if a Bank Is Licensed by the CBN
If you need to verify a bank or financial institution, do not rely solely on an old blog post, social media post or third-party directory.
Instead:
Check the CBN’s Official Website
Look for the latest banking and financial institution information published by the Central Bank of Nigeria.
Check the Institution’s Exact Legal Name
Some financial institutions may use brand names that differ from their registered or licensed names.
Confirm the Licence Category
Determine whether the institution is licensed as a commercial bank, merchant bank, non-interest bank or another type of regulated financial institution.
Check for Regulatory Updates
Licences can be revoked, suspended, changed or otherwise affected by regulatory decisions. The CBN publishes announcements about significant regulatory actions.
For example, in July 2026, the CBN announced the revocation of licences of 46 microfinance banks after citing various regulatory and operational deficiencies.
Why Is It Important to Use a CBN-Licensed Bank?
Using an appropriately licensed financial institution can help consumers and businesses reduce the risks associated with dealing with unauthorised financial operators.
Before opening an account, transferring significant funds or entering into a financial relationship, consider checking:
This is particularly important when dealing with unfamiliar financial institutions or investment-related services.
CBN Banks and Anti-Money Laundering Compliance
Banks play a critical role in preventing and detecting money laundering and other forms of financial crime.
Financial institutions can be exposed to risks involving:
This is why banks use measures such as Know Your Customer (KYC) procedures, customer due diligence, transaction monitoring and suspicious activity reporting.
Understanding how banks are regulated can therefore be particularly useful for professionals working in banking, finance, accounting, compliance and risk management.
What Is KYC in Banking?
KYC stands for Know Your Customer.
KYC procedures help financial institutions establish who their customers are and understand the nature and expected purpose of their relationships with the institution.
Depending on the applicable requirements, KYC processes may involve verifying information such as:
Effective KYC procedures can help banks identify unusual activity and manage financial crime risks.
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Frequently Asked Questions About the CBN List of Banks in Nigeria
What is the CBN list of banks in Nigeria?
The CBN list of banks in Nigeria refers to financial institutions licensed and regulated by the Central Bank of Nigeria. CBN publications classify banks according to different licence categories, including commercial, merchant, and non-interest banking.
How many banks are licensed by the CBN in Nigeria?
The number can change as new licences are issued, institutions merge or licences are revoked. Therefore, there is no single permanent number. The CBN’s official publications should be checked for the latest regulatory position.
Is Access Bank licensed by the CBN?
Yes. Access Bank was included in the CBN’s published list of deposit money banks under commercial banking licences with international authorisation.
Is Zenith Bank licensed by the CBN?
Yes. Zenith Bank was listed by the CBN under commercial banking licences with international authorisation in the CBN’s published deposit-money-bank list.
Is FirstBank a CBN-licensed bank?
First Bank Nigeria Limited was included in the CBN’s published list of deposit money banks under commercial banking licences with international authorisation.
Is GTBank a CBN-licensed bank?
Guaranty Trust Bank Limited was included in the CBN’s published list under commercial banking licences with international authorisation.
Is CBN the same as a commercial bank?
No. CBN stands for Central Bank of Nigeria. It is Nigeria’s central bank and regulator, rather than a conventional commercial bank serving customers in the same way as deposit money banks.
How can I check whether a Nigerian bank is licensed?
The safest approach is to consult the latest official information published by the Central Bank of Nigeria. Because regulatory status can change, verify the institution against current CBN records rather than relying exclusively on older lists.
Are all financial institutions in Nigeria banks?
No. Nigeria has different categories of financial institutions, including commercial banks, merchant banks, non-interest banks, microfinance banks, and other regulated financial institutions. Licensing requirements and regulators can differ depending on the institution.
Why do banks need AML and KYC procedures?
AML and KYC controls help financial institutions identify and manage risks associated with money laundering, fraud and other financial crimes. These controls can include customer identification, due diligence, transaction monitoring and reporting processes
Final Thoughts
The CBN list of banks in Nigeria is a useful starting point for understanding the country’s regulated banking sector. However, banking information is not static. Institutions can receive new licences, change ownership or structure, merge, or face regulatory action.
For this reason, anyone researching Nigerian banks should use the CBN’s latest official information when verifying a bank’s current status. The CBN’s published April 2024 deposit-money-bank list provides a useful historical reference, while more recent regulatory announcements demonstrate why current verification is important.
For banking and finance professionals, understanding bank regulation should also go hand in hand with knowledge of financial crime prevention, KYC and anti-money laundering requirements.
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