Top 10 Nigerian banks you can trust By Dumebi Tokpe
Currently, there are 21 commercial Nigerian banks which have received the license to function and to provide services to all the Nigerian customers. It is very crucial to find a bank you can trust. We have prepared a list of top 10 banks in Nigeria for you.
Top Nigerian Banks you can trust
The Central Bank of Nigeria
Nigeria Central Bank was founded in 1958. Nowadays it is quite popular in Nigeria. The Bank controls the whole sector of the Nigerian economy.
Main targets controlled by CBN:
- ensuring price stability in the country;
- sound financial system;
- functioning as a source of economic and financial advice.
Diamond Bank Nigeria
This popular bank was established in 1990. It is considered to be one of the leading financial institutions in Nigeria. Its total assets are estimated to be nearly N5 trillion. Diamond Bank customer deposits are estimated to nbe about N206 million. Their services can be found in Benin, Senegal, Togo, UK and Cote d’Ivoire.
Access Bank Nigeria
Access Bank is a multinational commercial bank. Though it possesses a license issued by the Central Bank of Nigeria, the headquarters are situated in Lagos. It started its activity in the financial market in 1989 – when they got their license.
There are 309 offices all over the country, as well as 1600 automatic cash dispensers. According to the data given on the Internet, customer deposits are now about N33 trillion. It occupies the 532nd position in the Top 1000 World Ranking List of banks.
First Bank of Nigeria
First Bank of Nigeria stepped into the financial scene in 1894. Nowadays, it occupies a leading position in the banking sector of Nigeria. It’s considered to be one of the main creditors that provides a universal range of banking services. Its total assets comes to about N25 trillion.
Advantages of using its services:
- easy paperwork;
- the convenience of making payments;
- the individual approach to each client;
- the ability to use modern technologies for the necessary operations (ATMs, smartphones);
- permanent control of funds.
This is a banking group present in most African countries including Nigeria. This financial institution is a leading independent banking group in Central and Eastern Africa. The Bank has more than 750 offices in 32 countries on the continent. It focuses on general banking services and catering to individuals. Total assets are N1.146 trillion. The headquarter is based in Lomé, the capital city of Togolese Republic.
Fidelity Bank Plc
Fidelity Bank Plc is one of the most popular Nigerian banks, with their headquarter in Lagos. It began its financial activity in 1988 as a merchant bank. However, in 1999 it was transformed into a commercial bank. It became a universal bank in February 2001 occupying one of the positions among the most essential Nigerian financial establishments. Nowadays it operates in more than 150 branches in main commercial centers of the country. Customer deposits constitute N806 billion. Total assets are reaching N8 trillion.
United Bank for Africa
It is one of the most famous Nigerian banks. It was established in 1949. Nowadays it is considered to be one of the leading financial institutions in Africa. The bank operates in 19 African countries and has about 750 offices.
Union Bank of Nigeria
Union Bank of Nigeria is a large commercial bank. The institution was founded in 1917 as a colonial bank. It is one of the oldest banks in Nigeria. Among African banks, it occupies the 14th position. Bank assets now are about $6.130 billion.
This Nigerian bank opened its doors in 1990. Currently, it is believed to be one of the biggest financial companies on the whole African continent. Total assets of the aforementioned Bank are considered to be N16 trillion. Their services can now be found in various African countries like Gambia, Ghana, Sierra Leone, South Africa and England.
This bank isn’t so old, as it was set up only in 2011. It consists of 200 offices. Keystone Bank belongs to Asset Management Company of Nigeria. Its assets now exceed 8 billion dollars.
So, now you know what the best Nigerian banks are and can choose the one that is most suitable for you. Remember that you should be able to trust the bank you have chosen.