Top 10 Best Bank to Bank with in Nigeria

If you need advice about the most solid bank with the largest offices, the strongest bank to use and the most successful bank in Nigeria, then you’re in the right place.

The main regulators of banks in Nigeria are the Central Bank of Nigeria Established in 2007 (CBN Act). This Law gives the Central Bank of Nigeria (CBN) rights to look after and control banks and other commercial companies in Nigeria.

Other important regulators comprises the:

Companies and Allied Matters Act (Cap 59, Laws of the Federal Republic of Nigeria 1990 (CAMA), which regulates companies.

Nigeria Deposit Insurance Corporation Act, which safeguards all deposit obligations of approved banks.

Foreign Commerce (Monitoring and Miscellaneous Provisions) Act, which brings the administrative structure for overseas exchange activities in Nigeria.

The primary work of CBN

Some of the core duties of the Central Bank of Nigeria are as follows:

  • Ensure monetary and cost balance.
  • Issue legal tender.
  • Promote a fair monetary practice.
  • Act as a bank and implement monetary and commercial advice to the Federal Government of Nigeria.

Leading 10 Best Banks in Nigeria as at 2021.

  1. First Bank Nigeria Plc
  2. Access Bank Nigeria Plc
  3. Guaranty Trust Bank Plc
  4. Zenith Bank Plc
  5. EcoBank
  6. United Bank for Africa UBA
  7. Union Bank
  8. Stanbic IBTC Bank
  9. Fidelity Bank
  10. Sterling Bank

1. First Bank of Nigeria

First bank started activity in 1894. As the name suggests, it is undoubtedly the Early bank in Nigeria. First bank is the most experienced financial service brand in Nigeria, and Africa at large; extending its footsteps through divisions in London, Paris, Ghana, amongst other provinces.

For over 126 years, it has been the Nation’s foremost financial institution. It conducts a vast chain of over 44,000 business operations in Africa, the United Kingdom, Abu Dhabi, Beijing and Johannesburg with over 17 million customers.

First bank has been declared “The Best Bank in Nigeria” for five solid times –2011, 2012, 2013, 2014 and 2015–by The Banker magazine.


2. Access Bank

Access Bank is presently one of the greatest banks in Nigeria when it comes to resources, loans, deposits, and office network. It may interest you to know that its combination with Diamond bank on the 1st of April 2019 has now made Access bank one of the largest banks, not only in Nigeria, but in Africa as well.

Access Bank serves its clients through 5 business sectors which includes:

  • Institutional
  • Commercial
  • Retail banking
  • Transaction functions
  • and Commercial services.

Access Bank has had arguably the most prosperous banking growth in Nigeria over the last 10 years, accumulating massive asset, finance, and giving pleasant benefits for its customers. This is the reason it has won its place in Top 5 Commercial banks in Nigeria.

Access bank was initially a joint bank, the company gained individual and business banking license from Nigeria to operate as an International Commercial bank in 2012.

As of December 2019, the bank had the price of a resource worth NGN7.15 trillion and investors’ equity esteemed at roughly US$2.3 billion.

You may also like to know How to Set Up Access Bank Mobile App on Your Mobile Phone

They have over a thousand branches all over Nigeria and have over 7,500 workers

3. Guaranty Trust Bank

Guaranty trust bank popularly recognized as GTB started on the 17th of January 1990, and became a limited liability company certified to give monetary and new investment functions to the Nigerians. However, its activities started a year after the license was issued. Since its movements, GTB has sealed its place as one of the choicest, valued and business focused banks in Nigeria. Its excellence has also won its banking license to serve in many regions outside Nigeria.

GTB offers a vast area of monetary functions to its clients, comprising:

  • Retail
  • Corporate
  • Resource control
  • Investment banking
  • Online and
  • Internet banking.

GTB currently boasts of one of the choicest and fastest online banking platform in Nigeria. It is likewise one of the most rewarding and effectively regulated financial company in Nigeria.

Below are some of the major awards GT Bank has won so far

‘‘Best Banking Group’’, by World Finance Magazine awarded it the

‘‘ The Most Contemporary African Bank’’ by The African Banker Magazine, and

‘‘The Best Bank in Nigeria and Best Digital Bank in Africa’’ by Euromoney Magazine.

The bank operates on an overall resource worth ₦3.287 Trillion Naira and an investors’ support worth ₦575.6 Billion Naira and has over 10,000 workers as at 2021.

4. Zenith Bank

Zenith Bank is one of the leading financial companies in Nigeria, having identified itself in the Investment sector through quality service , exceptional customer understanding, and solid financial services

Zenith Bank is one of the wealthiest banks in Nigeria, and its stability in quality service delivery saw its clinch its rank as one of the choicest commercial bank in Nigeria.

Global Finance (magazine 2019) have recognized Zenith Bank as the most valuable banking brand in Nigeria 2020, and (People’s Choice) Bank of the decade (Thisday awards 2020).

Zenit Bank is certified on the Nigerian Stock Market and the London Stock Market and has over 500 offices and business enterprises across Nigeria.

They also have offices in the United Kingdom, United Arab Emirates, Ghana, Sierra Leone, and The Gambia. The Bank additionally has a branch in China.

5. Ecobank

The bank started financial activities in 1989 and operates mainly in 3 sectors:

  • Retail Banking
  • Wholesale Banking and
  • Treasury and financial services.

Ecobank published their profit of N30.587 billion for the quarter (Q1) after expense , and there was an increase of 11 percent from N27.863 billion in Q1 2018.

You can get more evidence on their official site at

6. United Bank for Africa

United Bank for Africa, is a popular African financial company with headquarters in Lagos, Nigeria, and its chapters in over 21 African regions. UBA is the largest bank in Nigeria, and as a means of evidence, one of the broadest in Africa.

UBA offers good financial assistances, such as

  • Wholesale banking,
  • Corporate investment,
  • Investment banking,
  • Trade fund,
  • Savings,
  • Consumer investment,
  • Mobile banking, and
  • Internet banking.


7. Union Bank

Union Bank is a huge commercial bank in Nigeria. In July 2009, it was rated as the 556th biggest bank in the business and the fourteenth biggest bank in Africa.

As of December 31, 2019, the bank’s overall assets value was estimated at NGN1.4 trillion.

While the investors’ equity around then was estimated at NGN 286 billion (US$851 million).

The bank puts up a massive chain of connected branches in every single Nigerian state.

It has two fully owned bank auxiliaries; Union Bank UK in London, United Kingdom, and UBN Property Company Limited in Nigeria.

8. Stanbic IBTC Bank

  • Stanbic IBTC operates as a:
  • Banking company,
  • stock broker
  • pension and
  • Trustee businesses.

Stanbic Bank is one of the finest banks in Nigeria with Head Quarters Located in south Africa. they operates in 20 African regions and 13 nations outside Africa.

As at December 2019, the entire gains generated by the Bank are worth over NGN 152.3 Billion with All assets worth a huge NGN 1.42 Trillion, and the bank has over 2,926. workers.

9. Fidelity Bank

fidelity bank got its Universal banking license in 2001 and International Banking license in 2011 respectively. Since its formation and commencement of activity as a financial bank, Fidelity has grown into one of the strongest banks in Nigeria; well regarded for its monetary support, guarantee, sincerity, and dynamic service delivery to clients.

10. Sterling Bank

Sterling Bank is one of the finest banks in Nigeria that runs in four sections:

  • Retail Banking,
  • Consumer Banking,
  • Commercial Banking, and
  • Corporate Banking, including Telecommunications, Power and Steel, Foodstuff and Drinks among other services.

The bank operates from The Head Office in 20 Marina, Lagos. In fact, they provide a quick loan benefits to people who are qaulied for the loan

It has 179 branches across the Nigeria, with over 7,853 POS terminals with a few dealers and 847 ATMs located all over Nigeria.


The above ranking is based on our own proper research and experiences gathered from accessing the bank.

Related post: How to Activate GTBank Mobile Banking App

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