List of Failed Banks in Nigeria

 

List of Failed Banks in Nigeria


Banking institutions offer a range of services to their customers from, retail banking, treasury, private banking, project management, funds management, among others. However, situations occur to some banks that make them not able to meet their obligations to their depositors and other stakeholders. Bad loans, capital inadequacy, regulatory issues, and asset and liability mismatch that affect the value of a bank’s assets to fall beyond the market worth of the liabilities of the bank, are reasons that can lead to a bank failing.

 

List of failed banks in Nigeria

The following banks are failed banks in Nigeria:


BANK OF THE NORTH LIMITED

Bank of the North Limited located at Park Road, Fagge, Kano, Kano State merged with New Africa Bank Limited, Intercity Bank Plc, Pacific Bank Limited, First Interstate Merchant Bank Limited, Tropical Commercial Bank Plc, and Centre Point Bank to form Unity Bank for Africa.

 

CHARTERED BANK LIMITED

 

INTERCONTINENTAL BANK PLC.

Intercontinental Bank Plc was a commercial bank in Nigeria owned by Access Bank Plc. It was founded in the year 1989 under the name Nigerian Intercontinental Merchant Bank Limited. The bank acquired Equity Bank of Nigeria in 1996. It was located at Plot 999C, Danmole Street off Adeola Odeku Idejo Street, Victoria Island, Lagos State.

 

IMB INTERNATIONAL BANK PLC.

International Merchant Bank Plc (IMB) was located at IBM Plaza, 1, Akin Adesola Street, Victoria Island, Lagos State.

 

NEW AFRICA MERCHANT BANK LIMITED

New Africa Merchant Bank Limiter was located at NNIL Building Kaduna, 4, Major General Muhammed Buhari way, Kaduna, Kaduna State.

 

TRIUMPH BANK PLC.

Triumph Bank Plc formerly known as Triumph Merchant Bank was founded in the year 1991. It was located at 186 Awolowo road, South West Ikoyi, Lagos State. It oŽ™≠
ered Investment banking, Personal and business banking services.

 

GLOBAL BANK PLC.

Global Bank Plc was a commercial bank located at No. 2, Awolowo Road, Ikoyi, Lagos State.

 

TRADE BANK PLC.

Trade Bank Plc. located at 57 Martin Street, Lagos Island, Lagos State operated as a commercial bank.

 

INTERNATIONAL TRUST BANK PLC.

International Trust Bank Plc located at 6th Floor, Icon House- Plot 999f, Idejo-Danmola Street, Victoria Island, Lagos state.

 

FOUNTAIN TRUST BANK PLC.

 

FSB INTERNATIONAL BANK PLC.

 

INVESTMENT BANKING & TRUST COMPANY LTD. (IBTC)

 

MANNY BANK NIG. PLC.

 

Pacific Merchant Bank Plc.

 

Trans International Bank Plc.

Trans International Bank Plc was Located at Plot 1,2,6 &7, Agodi GRA, Ibadan, Oyo State. It was registered in the year 1987.

 

COOPERATIVE BANK

 

SGBN

 

PRUDENT BANK

Prudent Bank was incorporated initially as a finance company in the year 1979 by Late Chief Samuel Ogundupe which operated for ten years before it became Prudent Merchant Bank in 1989.

 

LIBERTY BANK LIMITED

 

NEW NIGERIA BANK

 

LIMITED HALLMARK BANK PLC

Hallmark Bank Plc located in 137/139, Broad Street, Marina, Lagos Island, Lagos State issued Bonds and Guarantees to company employers. The services it offered include; Treasury; Retail and Private Banking, Advisory, Project Management amongst other services.

 

SOCIETE BANCAIRE (NIG.) LIMITED

 

NIGERIAN INTERNATIONAL BANK LIMITED

 

GATEWAY BANK

Gateway Bank Plc was located at 1-5 Fajuyi Road, Abeokuta, Ogun State.

 

GUARDIAN EXPRESS BANK PLC

 

FIRST INTERSTATE BANK (NIG.) Limited

 

NEW UNIVERSAL BANK LIMITED

 

ASSURANCE BANK

 

RELIANCE BANK

 

REGENT BANK PLC

Regent Bank Plc located in Victoria Island, Lagos, Nigeria was registered in the year 2000.

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