See list of 45 failed banks in Nigeria as UBA, Ecobank acquires two

• In the last 28 years, approximately 46 commercial and Merchant banks have closed down for various reasons
• The Banks had their licenses revoked by the Central Bank of Nigeria, between 1994 and 2006
• United Bank of Africa and Ecobank took control of the two commercial banks that failed

Over the past 28 years, at least 45 commercial and merchant banks have ceased operations.

Data obtained revealed that the banks had their licenses revoked by the Central Bank of Nigeria, between 1994 and 2006.

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