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Nigeria’s Central Bank issues three new banking licenses

The Central Bank of Nigeria has issued licenses to three new banks to geared to commence operations in the country. The three new banks include two deposit money banks and one non-interest bank.

The two deposit money banks are – Globus Bank Limited and Titan Trust Bank Limited while the newly licensed non-interest bank is TAJ Bank Limited.

With this recent development – the addition of two new deposit money banks, the total number of banks in Nigeria will be pegged at 23.

The previously existing banks are Keystone Bank, Polaris Bank, Providus Bank, Stanbic IBTC Bank Ltd., Standard Chartered Bank Nigeria Ltd, Sterling Bank Plc, SunTrust Bank Nigeria Limited, Union Bank of Nigeria Plc, United Bank For Africa Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc.

Others are Access Bank Plc, Citibank Nigeria Limited, Diamond Bank Plc, Ecobank Nigeria Plc, Fidelity Bank Plc, FIRST BANK NIGERIA LIMITED, First City Monument Bank Plc, Guaranty Trust Bank Plc, and Heritage Banking Company Ltd.

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