Nigeria’s banking sector is in the midst of one of its most transformative periods in decades.

 

In March 2024, the Central Bank of Nigeria (CBN) announced a new minimum capital requirement for banks, prompting them to raise additional capital by 31 March 2026.

 

The goal? Create larger, more resilient banks that can support big projects, strengthen the financial system, and help drive Nigeria toward a $1 trillion economy.

 

It is important for everyday customers, investors, and businesses to understand that the new capital requirement is at different levels: International, National, and Regional.

 

Banks That Have Secured International Licences

An international banking licence allows banks to operate beyond Nigeria’s borders and engage in cross-border transactions.

 

To qualify, banks must meet a higher capital threshold — ₦500 billion in paid-up capital.

 

As of early 2026, the following banks met this requirement and secured their international licences:

Access Bank Plc

Fidelity Bank Plc

First Bank of Nigeria Ltd

Guaranty Trust Bank (GTBank)

United Bank for Africa (UBA)

Zenith Bank Plc

Banks That Have Secured National Licences

 

A national banking licence allows operations across Nigeria but restricts international expansion. Banks need ₦200 billion in paid-up capital to secure this licence.

 

FCMB (First City Monument Bank) – currently pushing to raise additional capital to secure its international licence.

Wema Bank

Standard Chartered Bank (Nigeria)

Citibank Nigeria

Stanbic IBTC Bank

Sterling Bank

Globus Bank

Premium Trust Bank