Nigeria’s banking industry has been through storms, sunshine, and seismic reforms. From the colonial-era origins of First Bank to the pan African ambitions of Ecobank and Access Bank, each institution has carved a biography worth studying.

As of 2025, the ten richest Nigerian banks collectively control assets of more than ₦218 trillion, cementing their place not only as financial giants but as historical actors shaping Nigeria’s destiny.

This biography-style article chronicles the stories of these 10 richest Nigerian banks in 2025, ranked by their total assets and influence.

1. Ecobank Nigeria: The Pan-African Titan (₦44.53 trillion in assets)

Born in the mid-1980s under the vision of creating an African owned multinational bank, Ecobank has grown into a titan. Its Nigerian arm, Ecobank Nigeria, remains its crown jewel, with assets valued at ₦44.53 trillion in 2025.

• The journey: Founded in Lomé, Togo in 1985, Ecobank came into Nigeria in the early 1990s. It fought hard for space in a market dominated by First Bank, UBA, and Union Bank.

• Today: Ecobank Nigeria is a bridge builder for traders, facilitating cross-border flows between Lagos, Accra, Abidjan, and beyond.

• Legacy: Its biography is that of an outsider who became family rooted in Nigeria’s financial soil, yet with branches stretching across 36 African countries.

2. Access Bank: The Empire Builder (₦39.08 trillion in assets)

No Nigerian bank has undergone a transformation as dramatic as Access Bank. From a fringe player in the 1990s, it has built an empire.

• The journey: Access Bank’s pivotal moment came in 2018 when it acquired Diamond Bank, instantly becoming Africa’s largest retail bank.

• Today: With assets of ₦39.08 trillion in 2025, Access is Nigeria’s second richest bank and a continental heavyweight.

• Legacy: The late Herbert Wigwe, who died tragically in 2024, is etched into its biography as the visionary who dared to make Access Bank bigger than life itself.

3. Zenith Bank: The Investor’s Darling (₦24+ trillion in assets)

Zenith Bank, established in 1990 by Jim Ovia, has written its biography as Nigeria’s most profitable and investor-friendly bank.

• The journey: Starting with just a few branches in Lagos, Zenith quickly became synonymous with corporate banking.

• Today: With assets above ₦24 trillion, it continues to set the pace in shareholder value, dividends, and governance.

• Legacy: Its story is that of discipline and consistency a reminder that in banking, reliability can be as powerful as ambition.

4. United Bank for Africa (UBA): Africa’s Global Banker (₦22+ trillion in assets)

Founded in 1949, UBA has one of the richest biographies in Nigerian banking.

• The journey: From its early days as the British and French Bank Limited, UBA has reinvented itself multiple times, most recently under Tony Elumelu’s leadership.

• Today: With assets of over ₦22 trillion, UBA is not just Nigerian but African operating in 20 African countries, London, Paris, and New York.

• Legacy: Its story is one of ambition without borders, carrying Nigeria’s banking DNA into the global marketplace.

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5. First Bank of Nigeria: The Grandfather (₦20+ trillion in assets)

If Nigerian banking had a family tree, First Bank would be the patriarch. Founded in 1894 as the Bank of British West Africa, it has witnessed colonialism, independence, coups, oil booms, and digital revolutions.

• The journey: From financing the cocoa trade in the early 20th century to driving fintech adoption today, First Bank has lived through every era of Nigerian economic history.

• Today: With assets above ₦20 trillion, it remains a household name, trusted by millions of Nigerians across generations.

• Legacy: Its biography is the story of Nigeria itself resilient, adaptive, and rooted in heritage.

6. Guaranty Trust Holding Company (GTCO): The Stylish Innovator (₦17+ trillion in assets)

Founded in 1990 by Fola Adeola and Tayo Aderinokun, GTBank now GTCO has become the stylish face of Nigerian banking.

• The journey: GTBank disrupted the industry by embracing technology early, appealing to young Nigerians with its bright orange branding.

• Today: With assets above ₦17 trillion, GTCO has expanded into pensions, insurance, and fintech.

• Legacy: Its biography reads like that of a creative artist bold, innovative, and forever setting trends.

7. Stanbic IBTC Bank: The Wealth Manager (₦15+ trillion in assets)

Born from the merger of Stanbic Bank Nigeria and IBTC Chartered Bank in 2007, Stanbic IBTC carries South African pedigree under the Standard Bank Group.

• The journey: Known for its strength in corporate banking, investment banking, and pensions, it has become the bank of choice for Nigeria’s upper middle class.

• Today: With assets crossing ₦15 trillion, it is a leader in wealth management.

• Legacy: Its biography is one of trust and quiet strength, appealing to those who value security and planning.

8. Fidelity Bank: The Steady Climber (₦10+ trillion in assets)

Fidelity Bank may not always dominate headlines, but its steady growth has made it one of Nigeria’s richest banks.

• The journey: From its founding in 1988, Fidelity built loyalty through customer-friendly promos and SME financing.

• Today: With assets above ₦10 trillion, it competes with the big names while retaining a grassroots connection.

• Legacy: Its biography reflects patience and perseverance proof that consistency pays.

9. Union Bank of Nigeria: The Old Reliable (₦9+ trillion in assets)

Founded in 1917 as Colonial Bank, Union Bank is one of Nigeria’s oldest.

• The journey: Nicknamed “Big, Strong, Reliable,” Union Bank was for decades the benchmark of banking stability in Nigeria.

• Today: With assets around ₦9 trillion, it has rebranded to appeal to a younger generation while holding onto its old values.

• Legacy: Its biography is one of endurance, symbolizing survival across more than a century of Nigeria’s economic changes.

10. Polaris Bank: The Phoenix (₦6+ trillion in assets)

Polaris Bank emerged from the ashes of the collapsed Skye Bank in 2018.

• The journey: Born during crisis, Polaris inherited both challenges and opportunities. Over time, it stabilized and began to grow steadily.

• Today: With assets of about ₦6 trillion, Polaris has found a niche in retail and public sector banking.

• Legacy: Its biography is one of rebirth a phoenix rising from the ruins of its predecessor.