CBN publishes list of 44 licensed Nigerian banks after increasing minimum capital requirement.
The Central Bank of Nigeria (CBN) published a list of 44 licensed Deposit Money Banks, revealing various categories such as national banks, regional banks, non-interest banks, merchant banks, and financial holding companies. The list follows a recent increase in the minimum capital requirement for all banks in Nigeria to strengthen the financial sector. The CBN has licensed seven banks with international authorization, 15 banks with national authorization, four banks with regional authorization, four non-interest banks with national authorization, six merchant banks with national authorization, and seven financial holding companies.
May 08, 2024
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