Banking started as far back as 1892 in Nigeria with the African Banking Corporation and British West Africa, now First Bank of Nigeria as the pioneer bank in the Nigerian banking sector. Today, there are over twenty six banks in Nigeria with hundreds of bank branches scattered all over the country.
With Central Bank of Nigeria overseeing the affairs of commercial, merchant and non interest banks in Nigeria, Commercial Banks in Nigeria is categorised into three:
1. Commercial banks with International Authorization in Nigeria
- Access Bank Plc
- Fidelity Bank Plc
- First City Monument Bank Plc
- First Bank of Nigeria Limited
- Guaranty Trust Bank Plc
- Union Bank of Nigeria Plc
- United Bank for Africa Plc
- Zenith Bank Plc
2. Commercial banks with National Authorization in Nigeria
- Citibank Nigeria Limited
- Ecobank Nigeria Plc
- Heritage Banking Company Limited
- Keystone Bank Limited
- Polaris Bank Limited.
- Stanbic IBTC Bank Plc
- Standard Chartered
- Sterling Bank Plc
- Unity Bank Plc
- Wema Bank Plc
3. Commercial banks with Regional Authorization in Nigeria
- SunTrust Bank Nigeria Limited
- Providus Bank Limited