Naira is the currency of the West African nation Nigeria. The nation has a highly developed financial services sector, with a mix of local and international banks, brokerage houses, asset management companies, private equity funds, insurance companies and brokers, and investment banks. The Central Bank of Nigeria is the national banking regulator.
Here are the top 10 richest banks in Nigeria by assets as of 2014.
10) First City Monument Bank (₦614.2 billion)
The First City Monument Bank (FCMB) is the flagship of the First City Group, one of the leading financial institutions in Nigeria. It is a universal bank with assets of around ₦614.2 billion (US$3.7 billion) as of May 25, 2014.
9) Sterling Bank Plc (₦707 billion)
Sterling Bank Plc is a full service national commercial bank. It has assets of around ₦707 billion (US$4.61 billion) of December 2012 and offers a wide range of banking services to individuals, businesses, government agencies and non-profit organizations.