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Types Of Nigeria Banks: Complete List Of Banks Operating In Nigeria

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Nigeria Banks

When it comes to Banks in Nigeria, only few banks are well known. The likes of Firstbank, Access bank, Zenith Bank, GTBank, FCMB and UBA top the list of Nigeria Banks. But surprisingly these are not the only banks in Nigeria. There are other types of Nigeria Banks that are not well known.

In Nigeria, aside from other financial institution there are about four types of banks in Nigeria. These banks perform from small banking operations for individuals to large banking operations for big companies.

This means that if you are a small business owner there might just be a bank ready to finance your small business and provide your loan options when other big banks refuse to do so.

In this article, we’ll be introducing you to other types of Nigeria banks. The list of Nigeria banks below will be explained with examples and their functions.

Types Of Nigeria Banks

Below are the various types of banks in Nigeria by categories. These catergories will be broken down to include the names of all banks in each category.

  1. Commercial Banks
  2. Microfinance Banks
  3. Primary Mortgage Banks
  4. Merchant Banks
  5. Other Financial Institution
List Of Commercial Banks In Nigeria

There are currently about 23 banks in Nigeria. With the likes of Skye Bank been changed to Polaris bank and the likes of Diamond Bank merged with Access Bank. Below are the complete list of all 23 commercial Banks in Nigeria.

  1. Access Bank
  2. Access Bank Plc(Diamond)
  3. Citi Bank
  4. Ecobank
  5. Enterprise Bank
  6. FCMB(First City monument Bank)
  7. Fidelity Bank
  8. First Bank Of Nigeria
  9. GTBank Plc
  10. Heritage Bank
  11. JAIZ Bank
  12. Keystone Bank
  13. Polaris Bank (Formerly known as Skye Bank)
  14. Providus Bank
  15. StanbicIBTC Bank
  16. StandardChartered Bank
  17. Sterling Bank
  18. Suntrust Bank
  19. UBA Bank (United Bank For Africa)
  20. Union Bank
  21. Unity Bank
  22. Wema Bank
  23. Zenith Bank

Above is all 23 commercial banks in Nigeria and they are listed alphabetically. All Banks above are licensed and approved by Central Bank of Nigeria to carry all banking operations and commercial activities in Nigeria.

List Of Microfinance Banks In Nigeria

This falls in the category of the unknown banks. Microfinance banks provide small loan options for business owners. They also perform small daily banking operations but now on a large scale like that of commercial banks.

Surprisingly there are over 70 Microfinance banks currently operating in Nigeria. Below are a list of the Microfinance banks in Nigeria

  1. ABU MICROFINANCE BANK
  2. ACCION MFB
  3. ADDOSER MFBB
  4. AL-BARKAH MFB
  5. ALEKUN MICROFINANCE BANK
  6. ALLWORKERS MFB
  7. ALPHA KAPITAL MFB
  8. AMJU MFB
  9. AMML MFB
  10. APEKS MFB
  11. APEKS MFB
  12. BAINES CREDIT MFB
  13. BC KASH MFB
  14. BOCTURST MFB
  15. BOWEN MFB
  16. CEMMCS MFB
  17. CHIKUM MFBCIT MICROFINANCE BANK
  18. CONSUMER MFB
  19. COVENANT MFB
  20. CREDIT AFRIQUE MFB
  21. DAYLIGHT MFB
  22. EKONDO MFB
  23. EMPIRE MFB
  24. ESO-E MICROFINANCE BANK
  25. FAST MICROFINANCE BANK
  26. FFS MICROFINANCE BANK
  27. FIDFUND MFB
  28. FINATRUST MFB
  29. FIRST MULTIPLE MICROFINANCE BANK
  30. FIRST ROYAL MFB
  31. FORTIS MICROFINANCE BANK
  32. FULL RANGE MFB
  33. FUTY MFB
  34. GASHUA MICROFINANCE BANK
  35. GOWANS MFB
  36. GREENBANK MICROFINANCE BANK
  37. GROOMING MICROFINANCE BANK
  38. HACKMAN MICROFINANCE BANK
  39. HASAL MFB
  40. HIGHSTREET MICROFINANCE BANK
  41. IBILE MICROFINANCE BANK
  42. INFINITY MFB
  43. IRL MICROFINANCE BANK
  44. JUBILEELIFE MFB
  45. KCMB MFB
  46. LAFAYETTE MICROFINANCE BANK
  47. MALACHY MFB
  48. MIDLAN MFB
  49. MUTUAL TRUST MICROFINANCE BANK
  50. NAGARTA MFB
  51. MDIORAH MFB
  52. NIRSAL MFB
  53. NPF MFB
  54. OHAFIA MFB
  55. OKPOGA MFB
  56. PAGE MICROFINANCE BANK
  57. PARRALEX MFB
  58. PECAN TRUST MFB
  59. PERSONAL TRUST MFB
  60. PETRA MFB
  61. QUICKFUND MFB
  62. RAHAMA MFB
  63. REGENT MFB
  64. RELIANCE MFB
  65. RENMONEY MIVROFINANCE BANK
  66. RICHWAY MFB
  67. ROYAL EXCHANGE MFB
  68. SEED CAPITAL MFB
  69. STANDFORD MFB
  70. UNN MFB
  71. VITE MFB
  72. VFD MFB
  73. VIRTUE MFB
  74. VISA MICROFINANCE BANK
  75. WETLAND MFB
  76. XSLNCE MFB
  77. YES MFB

The above are some of the microfinance banks currently operating in Nigeria. This list will be updated every month for the most recent microfinance banks.

List Of Primary Mortgage Banks In Nigeria

Another type of bank that is seldomly heard of in Nigeria is the Primary Mortgage Banks. These types of banks are primarily focused on providing mortgage or loans for individuals and corporate bodies who want to acquire house and landed properties.

There are currently about 17 Primary Mortgage Banks in Nigeria. below are the list of the primary Mortgage Banks in Nigeria

  1. ABBET MORTGAGE BANK
  2. AG MORTGAGE BANK
  3. ASO SAVINGS
  4. BRENT MORTGAGE BANK
  5. FBN MORGAGES LIMITED
  6. FIRST GENERATION MORTGAGE BANK
  7. GATEWAY MORTGAGE BANK
  8. HAGGAI MORTGAGE BANK LIMITED
  9. IMPERIAL HOMES MORTGAGE BANK
  10. INFINITY TRUST MORTGAGE BANK
  11. LBIC MORTGAGE BANK
  12. NEW PRUDENT MORTGAGE BANK
  13. OMOLUABI MORTGAGE BANK PLC
  14. PLATINUM MORTGAGE BANK
  15. REFUSE MORTGAGE BANK
  16. SAFETRUST MORTGAGE BANK
  17. TRUSTBOND MORTGAGE BANK

The above are the 17 mortgage banks currently in Nigeria.  They offer mortgage or loan for house and landed properties for individuals and business. If you wish to acquire a loan specifically to purchase a house or lad then they are your best options.

List Of Merchant Banks In Nigeria

Merchant banks are designed in such a way that they provide loan options for big companies. They are targeted at providing loan options for big businesses and institutions. Little wonder there are few of such banks in Nigeria.

There are about 5 Merchant banks currently in Nigeria. Below is the complete list of all Merchant banks in Nigeria.

  1. CORONATION MERCHANT BANK
  2. FBNQUEST MERCHANT BANK
  3. FSDH MERCHANT BANK
  4. NOVA MERCHANT BANK
  5. RAND MERCHANT BANK

The above are the 5 merchant banks we currently have in Nigeria. Please note that it is not advisable that individuals seek loan options from merchant banks. They designed to give loans out to big companies.

List Of Other Financial Institution

Other financial institution are not banks, but they can perform some activities done by banks. at the least, they can send, receive and save money. There are about 3 of such institutions in Nigeria currently.

  1. Flutterwave technology Solutions Limted
  2. Intellifin
  3. PayAttitude Online
Conclusion

In total we have about 125 different institutions performing banking operations in Nigeria. So you can see that aside from the regular commercial banks, there are other types of Nigeria banks.

The list of banks will updated every month to include all recent changes. Please use the share button below to share our posts on Facebook and Twitter.

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