Nigerian Banks Close 476 Branches in Three Years as Digital Banking Grows

Nigeria’s banks closed a net 476 branches and cash centres between 2022 and 2025, according to figures in the Central Bank of Nigeria’s 2025 financial-sector bulletin. The total number of physical locations fell from 5,410 to 4,934, an 8.8% decline. The pace of closures rose after 2023, with 229 locations lost in 2024 and another 210 in 2025. Lagos recorded the biggest numerical drop, losing 158 branches and cash centres, while Ekiti saw the sharpest proportional decline, falling from 107 locations to 57. The trend was not the same everywhere. Delta, Edo, Jigawa and Kogi recorded increases in physical banking locations. The shift reflects banks’ growing reliance on digital and alternative payment channels, even as access to physical banking remains uneven across states.

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