7 January, 2026 Micheal Nzubechi 0 Comments 4 categories
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A breakdown of Nigerian banks by licence class obtained from the Central Bank of Nigeria (CBN) shows that only seven banks currently have authorisation for international operations.



The banks in this elite class are: Access Bank Limited; Fidelity Bank Plc; First City Monument Bank Limited; First Bank Nigeria Limited; Guaranty Trust Bank Limited; United Bank for Africa Plc; Zenith Bank Plc.

They are the ones under CBN’s regulatory framework with international authorisation permitted to operate beyond Nigeria’s borders and engage in cross-border banking activities.

This means all other licensed banks in Nigeria do not have international operation clearance. Instead, they hold national or regional licences and focus primarily on domestic business.





In an effort to strengthen the banking sector, the CBN, in 2024, launched a two-year recapitalisation exercise, with a deadline set for March 2026.

According to CBN, banks with a N200 billion recapitalised base can operate across Nigeria but cannot operate abroad, while those with N50 billion are limited to regional operations.

International banks are expected to have a minimum capital base of N500 billion. The policy affects national and regional banks, as well as institutions in the non-interest and merchant banking sectors.

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