Nigerian Banks Shut 229 Branches Nationwide as Digital Banking Rises
Nigeria today being 19th August 2026,
The banking sector is undergoing a major digital shift, with 229 bank branches and cash centres closed across the country between 2023 and 2024, according to data from the Central Bank of Nigeria, CBN.
The closures reflect growing customer migration to mobile banking, USSD, electronic transfers, and POS services.
Ebonyi State Hit Hardest recorded the highest number of closures, losing 89 branches within the period.
Meanwhile, Lagos State remains Nigeria’s banking hub with 1,521 branches, the highest in the country.
Industry analysts say the trend signals a permanent move away from physical banking halls toward agent banking and digital platforms.
