Nigerian Bank Announces Branches Closure From January 2026, Sends Message to Customers
- Standard Chartered Bank Nigeria will close several branches nationwide as part of its digital transformation strategy
- The bank says the move aims to streamline operations and enhance customer experience through improved digital banking services
- Standard Chartered also confirmed it has met the CBN’s N200 billion minimum capital requirement
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Standard Chartered Bank Nigeria Limited has announced plans to close a number of its branches across the country effective January 15, 2026.
As part of its ongoing strategy to strengthen digital banking and streamline operations.
Source: Getty Images
The bank disclosed the development in a statement to clients over the weekend titled “Branch network update.”
It said that the decision followed “careful consideration and is in line with our ongoing efforts to optimise our services and customer value propositions.
According to the statement, the closures form part of Standard Chartered’s broader digitisation strategy, which began several years ago, to simplify its processes, operating channels, and service delivery models.
The bank said:
“These closures build on our digitisation efforts, which commenced a few years ago, to streamline our processes, operating channels, products, and service solutions; and efficiently utilise resources to suit the expectations and evolving needs of our clients."
promised that the branch rationalisation would not affect its service delivery or its commitment to clients, particularly corporate, institutional, and affluent customers, who will continue to benefit from its international network across Asia, Africa, and the Middle East, AriseTV reports.
Source: Twitter
Standard Chartered N200bn minimum capital requirement
By meeting the requirement early, Standard Chartered joins a select group of financial institutions demonstrating strong capitalisation and regulatory compliance ahead of schedule.
Speaking on the achievement, Chief Executive Officer of Standard Chartered Bank Nigeria Limited, Dalu Ajene, said the early compliance highlights the bank’s optimism about Nigeria’s growth trajectory.
“Delivering on the CBN’s recapitalisation directive ahead of schedule underscores our unwavering confidence in the resilience and potential of the Nigerian economy."
Ajene added that the bank remains committed to fostering sustainable growth, supporting its clients, and contributing meaningfully to Nigeria’s financial and economic transformation.
He emphasised that Standard Chartered’s early recapitalisation reinforces its position as a trusted financial partner to both individuals and corporate clients, 21st-century chronicle reports.
Message to customers
The lender reassured customers of its strong financial position, confirming that it has successfully met the Central Bank of Nigeria’s N200 billion minimum capital requirement for national commercial banks.
It added:
“Please be assured that we remain adequately equipped to serve and support you in the fulfilment of your financial goals and aspirations.
“We are steadfast in our commitments to you and assure you that we will continue to provide best-in-class financial service solutions for both our corporate and retail clients.”
By meeting the requirement early, Standard Chartered joins a select group of financial institutions demonstrating strong capitalisation and regulatory compliance ahead of schedule.
Speaking on the achievement, Chief Executive Officer of Standard Chartered Bank Nigeria Limited, Dalu Ajene, said the early compliance highlights the bank’s optimism about Nigeria’s growth trajectory.
“Delivering on the CBN’s recapitalisation directive ahead of schedule underscores our unwavering confidence in the resilience and potential of the Nigerian economy."
Union Bank finalises merger with Titan Trust Bank
Earlier, Legit.ng reported that Titan Trust Bank Limited has officially changed its social media handles to Union Bank of Nigeria, formally ending its existence as a separate entity.
The decision was sealed after the Central Bank of Nigeria (CBN) finally approved its long-awaited merger.
Union Bank said that both institutions will continue to operate under its 108-year-old brand name.
Titan Trust has updated its social media pages, including X (formerly Twitter), with the message:
Source: Legit.ng
