Nigerian Bank Announces Branch Closures 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 said it aimed to streamline operations and enhance customer experience through improved digital services
- Standard Chartered also confirmed it had met the Central Bank of Nigeria's N200 billion minimum capital target
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 certain branches across the country effective January 15, 2026.
The bank said this formed 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 ongoing efforts to optimise 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."
According to AriseTV, the bank 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.
Source: Twitter
Standard Chartered meets N200B minimum capital requirement
Meanwhile, Standard Chartered has joined the financial institutions demonstrating strong capitalisation and regulatory compliance ahead of the recapitalisation deadline set by the Central Bank of Nigeria.
Speaking on the achievement, Chief Executive Officer of Standard Chartered Bank Nigeria Limited, Dalu Ajene, said the early compliance highlighted the bank’s optimism about the country'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 remained committed to fostering sustainable growth, supporting its clients, and making meaningful contributions to Nigeria’s financial and economic transformation.
According to the 21st-Century Chronicle, he emphasised that Standard Chartered’s early recapitalisation reinforced its position as a trusted financial partner to both individuals and corporate clients.
Standard Chartered Bank sends 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.
“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.”
Union Bank finalises merger with Titan Trust
Earlier, Legit.ng reported that Titan Trust Bank Limited had 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 CBN approved its long-awaited merger, amid continued pressure on banks in the country to meet the looming deadline for recapitalisation.
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Source: Legit.ng
