Top 10 Best Banks in Nigeria (2024)

In the banking industry, it is normal for Nigerian banks to reel out financial services to benefit their customers and also to attract more to their base. While these commercial banks are licensed to operate by the Central Bank of Nigeria (CBN), they have not only maintained a solid reputation locally in the banking industry, but also internationally. To know how many banks are in Nigeria, you have to be sure on the type of bank, whether it is commercial, micro-finance or even mortgage.


While there are over 24 licensed commercial banks in Nigeria, not all these financial institutions are equal. Some are bigger and older, while other new generation banks are richer in terms of total assets and consolidation. The rankings of the top 10 best banks in Nigeria right now is officially put on our platform so as to guide you about the most reliable bank with the highest number of branches in the country. Also if you are looking for the best bank to work with in the country that pays the most salary at entry level, we have that covered in this article.

Bank ratings in Nigeria are published yearly based on some key factors and variables. These financial institutions are graded based on market value, brand esteem, the biggest banks by total assets, bank with the highest number of branches and ATM, customer fulfillment and so on.

So, which among these Nigerian banks is best to open a savings or current account with and save your hard earned money in? Using various reviews and experience, we shall list 10 best banks in Nigeria that you can trust to save your funds in, be you a civil servant, business man, student, trader, etc. All are based on customer reviews.

Top 10 Banks In Nigeria

Starting from the lowest ranked bank, here are the ranking of the top 10 best banks in Nigeria today:

10. Polaris Bank

Polaris Bank is one of the largest Nigerian Banks with assets totaling about $4 billion. Based on customers reviews, they have proven to be among the top ten safest banks to open an account with in Nigeria.

Formerly Skye Bank, this financial institution is currently quoted on the Nigerian Stock Exchange (NSE) and have presence in other African countries such as Sierra Leone, the Republic of Guinea, Angola and Liberia.

9. Fidelity Bank

Fidelity is another reliable Nigerian bank that has come a long way in maintaining its reputation among Nigerians and in the banking industry. With over 2.5 million customers patronizing this bank, it is impossible to not notice them. What we know is that they are popular among market women.

This licensed bank was established in 1988 and has assets worth over $6.51 billion. Fidelity Bank has promoted the corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs). The increase in savings deposits over the last three years via their mobile and internet banking products, shows that their retail digital banking service is one of the best.

8. Union Bank Of Nigeria

Union Bank of Nigeria, one of the oldest commercial banks in Nigeria was established in 1917 as a top financial institution to cater for small, medium sized companies, and major corporations. Ranked among the richest banks in the country with an asset base of $6.8 billion, UBN has cemented trust among Nigerians.

This bank is good for opening a savings account as a student or civil servant in the country. They also offer loan services to their customers with low interest rate. One thing I am sure of is that they are one of the highest paying banks in Nigeria this 2024.

With over 400 Union Bank branches scattered around every state in the country, you can easily walk into any of these branches an either open a current, savings or even domiciliary account. Their ATM service is also available 24/7.

7. Access Bank Nigeria Plc

Access bank is another customer friendly Nigerian bank ranked among the best to bank with. With their recent acquiring of Diamond bank PLC, they have even gotten stronger and are one of the few safest banks in Nigeria with the largest customer base. Access bank currently leads as Nigeria’s biggest bank by assets with an appreciation of ₦1.537 trillion within one year has increased Access Bank asset value to ₦8.680 trillion. This feat makes  Access bank Nigeria’s biggest lender.

Access bank Nigeria began operations in 1989 with license to operate as a financial institution from the Central Bank of Nigeria. The bank plans to be a leader in the Nigerian banking industry in the nearest future. To prove this, Access Bank acquired Diamond and Intercontinental Banks respectively and have the highest number of ATMs across the country, but can maintain day to day transactions.

6. United Bank For Africa (Uba)

UBA is one of the best banks in Nigeria that provides real digital banking service at its peak. They have one of the best customer care service and would respond well to any of your queries until you are satisfied.

With over 500 branches across the continent and 10 million customers in Nigeria, UBA is a trustworthy bank to save your money in. The bank charges are less when compared to other  new generation commercial banks. UBA is also worth $13.2 billion in terms of acquired assets.

5. Ecobank Nigeria

Ecobank Nigeria, is another old commercial bank operating in Nigeria with many branches all over the country. Most military officers prefer using this bank to open a salary account as well as civil servants.

Ecobank operates in 32 countries with its headquarters in Lome. This financial institution offers banking services such as wholesale, retail, loans, savings, investments, debit and credit cards, corporate, investment and transaction banking services to their customers.

4. First Bank Of Nigeria

Aside from being the oldest bank in the country, First Bank is among the top 10 best banks in Nigeria to open a savings account with. They are a leading company worth $21.3 billion in total assets.

First bank was established in 1894 and is Nigeria’s oldest bank.  The Banker magazine of the Financial Times Group awarded First Bank as “The Best Bank Brand in Nigeria” for five solid years in a row (2011, 2012, 2013, 2014 and 2015).

3. Keystone Bank Limited

Keystone Bank is one of the new generation banks worth mentioning on this list. They offer banking services not only to large corporations, but to public institutions, SMEs and individuals.

Keystone Bank Limited was issued commercial banking license by the Central Bank of Nigeria (CBN). They also acquired Bank PHB after the CBN revoked their license, making this financial institution one of the largest financial services providers in Nigeria.

2. Guaranty Trust Bank

Guaranty Trust Bank or GTBank is the best bank in Nigeria today when it comes to banking service and customer relations. They are a customer friendly bank with a trusted reputation. Reviews show that GTBank is the bank almost every Nigerian patronizes.

With an asset totaling $11.77 trillion, its hard to see other players in the banking industry beat this bank as it is one of the largest financial institutions in the whole of West Africa with large customer base.

1. Zenith Bank Nigeria

Zenith Bank PLC ranks number one in Nigeria by tier-one capital in the 2023 Top 1,000 World Bank ranking. Zenith Bank is another top licensed commercial bank providing financial services not only in Nigeria but also in West Africa. Established in 1990, this institution was listed on the Nigerian Stock Exchange (NSE) and is also Nigeria’s biggest bank by tier-1 capital with worth over $2.79 billion in shares.

Zenith Bank financial services ranges from Pension Management, Corporate and Investment Banking, Commercial and Consumer Banking, Personal and Private Banking, Trade Services and Foreign Exchange, Treasury and Cash Management Services, etc. They are also one of the richest banks in Nigeria with asset estimated to be worth $15.7 billion in total.


The banking sector in Nigeria is one that is constantly evolving, with new banks being established and others ceasing operations. This means that it can be difficult to determine which banks are the safest and best to use. However, these ones listed are the number of banks that stand out as being particularly safe and reliable in the country.

In recent times, customers have complained about the poor banking services of about three banks on this list (Zenith, GTBank and Access bank) respectively. Will the complains rank these banks as the worst banks in Nigeria? It will be fair to say that most Nigerian banks can’t be trusted due to poor customer service support and fraud linked to such financial institutions.

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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