Nigerian Banks Secure New Licences

The Central Bank of Nigeria (CBN) has introduced a new minimum capital requirement for banks, effective 31 March 2026. To meet this requirement, banks must raise additional capital. The goal is to create larger, more resilient banks to support big projects and drive Nigeria toward a $1 trillion economy. As of early 2026, several banks have secured their international licences by meeting the 500 billion paid-up capital threshold: Access Bank, Fidelity Bank, First Bank, GTBank, UBA, and Zenith Bank. Others have secured national licences with 200 billion in paid-up capital, including FCMB, Wema Bank, Standard Chartered Bank, Citibank Nigeria, Stanbic IBTC Bank, Sterling Bank, Globus Bank, and Premium Trust Bank. Will this consolidation lead to better services for customers or increased fees?

SOURCE: https://dailypost.ng/2026/01/17/nigerian-banks-that-have-secured-their-licences/