Banks shut 476 branches in three years – CBN
Nigerian banks closed a net 476 branches and cash centres between 2022 and 2025, an 8.8% reduction in three years, according to CBN data. Read More: https://punchng.com/banks-shut-476-branches-in-three-years-cbn/
Between 2022 and 2025, Commercial Banks in Nigeria shut down a net total of 476 branches and cash centres, resulting in an 8.8 per cent reduction in their physical footprint. Despite an increase in the number of banks operating in the country over the period, the decline in physical banking locations continued. This trend was evident in various states, with Lagos experiencing the largest decline in absolute terms, closing a net 158 locations within three years.
Other states such as Ekiti, Enugu, and Oyo also recorded significant reductions in their branch networks. The decline was largely driven by commercial, merchant, and non-interest banks, as reported by the Central Bank of Nigeria (CBN) in its 2025 Statistical Bulletin for the Financial Sector.
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- Banks shut 476 branches in three years – CBN punchng.com
