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Nigeria has one of the most stable and buoyant banking sectors in Africa. Nigerian banks have, over the years, proven their resilience to withstand financial storms.
Many Nigerian banks have maintained a considerable presence over an extended period. Their extensive and noteworthy history has led to various instances of rebranding, undergoing multiple rounds of mergers and acquisitions.
As a result, they have strengthened their positions and enhanced their security significantly compared to their previous benchmarks.
In this article, Legit.ng highlights Nigeria’s top 10 oldest banks, tracing their foundation and different transitions to their current state.
Many Nigerian banks have maintained a considerable presence over an extended period. Photo credit – First Bank, UBA, Union BankSource: UGC
1. First Bank of Nigeria
In 1894, Sir Alfred Jones, a prominent shipping magnate from Liverpool, England, established First Bank.
Initially headquartered in Liverpool, the institution initiated its operations in Lagos, Nigeria, with the appellation Bank of British West
