About Us

​Ecobank Nigeria Plc is a prominent commercial bank operating in Nigeria, offering a comprehensive range of financial services including wholesale, retail, corporate, investment, and transaction banking. Established in 1986 as a public limited liability company, it commenced operations in 1989 and has since become a key subsidiary of Ecobank Transnational Incorporated (ETI), a leading independent pan-African banking group headquartered in Lomé, Togo. ​

In 2011, Ecobank Nigeria expanded its operations by acquiring 100% of the shareholding in Oceanic Bank, significantly increasing its branch network across the country. Today, Ecobank Nigeria operates over 600 branches nationwide, providing extensive coverage and accessibility to its customers. ​

As part of the Ecobank Group, which has a presence in 36 African countries, Ecobank Nigeria benefits from a vast network that facilitates cross-border banking services and promotes financial integration across the continent. The bank’s operations are supervised and regulated by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC), ensuring compliance with national financial regulations.

​Ecobank Nigeria’s service offerings include loans, savings, investments, debit and credit cards, mortgages, and various digital banking solutions tailored to meet the diverse needs of its clientele. The bank’s commitment to supporting small and medium-sized enterprises (SMEs) was recognized in 2024 when it was awarded the Best Bank for SMEs in Nigeria by Global Finance. ​

Mission Statement

“To build a world-class Pan-African bank and contribute to the economic development and financial integration of Africa.”

Vision Statement

“To be the leading pan-African bank, providing world-class financial services that drive economic development and integration across Africa.”

Ecobank Nigeria’s Core Values:

  • Respect – Valuing diversity, treating customers and employees with dignity, and fostering a culture of mutual respect.
  • Integrity – Upholding honesty, transparency, and ethical business practices in all operations.
  • Passion for Excellence – Striving for the highest standards in service delivery and innovation.
  • Customer Centricity – Prioritizing customer needs and delivering tailored financial solutions.
  • Innovation – Continuously improving and adopting new technologies to enhance banking experiences.
  • Teamwork – Promoting collaboration and synergy to achieve common goals.

History of Eco Bank Plc Nigeria

Ecobank Nigeria Plc was established in 1986 as a public limited liability company and commenced full banking operations in 1989. It was founded as part of Ecobank Transnational Incorporated (ETI), a leading Pan-African banking group headquartered in Lomé, Togo. The bank was created to provide financial services that would drive economic development and financial integration across Africa.

Throughout the 1990s and early 2000s, Ecobank Nigeria expanded its services in retail, corporate, and investment banking, positioning itself as a key player in Nigeria’s financial sector. The bank benefited from the Central Bank of Nigeria’s banking sector consolidation policy in 2006, which encouraged banks to strengthen their capital base and operational capabilities.

A major milestone in the bank’s history came in 2011 when it acquired Oceanic Bank International Plc. This acquisition significantly increased Ecobank Nigeria’s branch network and customer base, making it one of the largest banks in the country. By 2015, the bank had further expanded its reach and strengthened its digital banking capabilities, offering innovative financial services to meet the evolving needs of its customers.

In 2016, Ecobank Nigeria launched its mobile banking app, a major step in its digital transformation journey. This was followed by the introduction of the Ecobank Xpress Point Agent Banking service in 2020, aimed at increasing financial inclusion by bringing banking services to underserved communities.

The bank’s commitment to customer service and innovation earned it industry recognition, including the award for “Best Retail Bank in Nigeria” in 2023 and “Best Bank for SMEs in Nigeria” in 2024.

Today, Ecobank Nigeria remains a key subsidiary of Ecobank Transnational Incorporated and operates as part of a Pan-African network spanning 36 countries. It continues to focus on providing digital banking solutions, supporting small and medium-sized enterprises, and driving financial inclusion across Nigeria and beyond.

Historical Background of Ecobank Nigeria Plc

Founding and Early Years (1986 – 1989)
  • Ecobank Nigeria Plc was established in 1986 as a public limited liability company.
  • It began full banking operations in 1989, becoming one of Nigeria’s leading financial institutions.
Expansion and Industry Growth (1990s – 2000s)
  • Throughout the 1990s and early 2000s, Ecobank Nigeria grew steadily, expanding its services to retail, corporate, and investment banking.
  • By the mid-2000s, it became one of Nigeria’s key players, benefiting from the Central Bank of Nigeria’s banking sector consolidation policy in 2006.
Major Acquisition and Network Expansion (2011 – 2015)
  • In 2011, Ecobank Nigeria acquired Oceanic Bank International Plc, significantly increasing its branch network and market share.
  • This acquisition made Ecobank one of Nigeria’s largest banks, with hundreds of branches nationwide.
  • By 2015, Ecobank strengthened its digital banking presence with various online and mobile banking services.
Digital Transformation and Financial Inclusion (2016 – Present)
  • In 2016, the bank launched the Ecobank Mobile App, which provided digital banking solutions across Nigeria and Africa.
  • The introduction of Ecobank Xpress Point Agent Banking in 2020 helped increase financial inclusion by offering banking services to underserved communities.
  • Ecobank Nigeria won “Best Retail Bank in Nigeria” (2023) and “Best Bank for SMEs in Nigeria” (2024) for its outstanding services.
Present-Day Status
  • Ecobank Nigeria is a subsidiary of Ecobank Transnational Incorporated (ETI), the leading Pan-African banking group with a presence in 36 African countries.
  • It continues to focus on innovation, digital banking, and financial integration across Africa.

Key Achievements of Ecobank Nigeria Plc

Acquisition of Oceanic Bank (2011)
  • Expanded its branch network and customer base, making it one of the largest banks in Nigeria.
Digital Banking Innovation
  • Launched the Ecobank Mobile App (2016) to enhance digital banking services.
  • Introduced Ecobank Xpress Point Agent Banking (2020) to promote financial inclusion in underserved areas.
Industry Awards and Recognition
  • Best Retail Bank in Nigeria (2023) – Awarded by BusinessDay Banks & Other Financial Institutions Awards (BAFI).
  • Best Bank for SMEs in Nigeria (2024) – Recognized by Global Finance for its support to small and medium-sized enterprises.
Pan-African Financial Integration
  • As a subsidiary of Ecobank Transnational Incorporated (ETI), it facilitates cross-border trade and financial transactions across 36 African countries.
Corporate Social Responsibility (CSR)
  • Engages in financial literacy programs, youth empowerment, and community development projects to contribute to Nigeria’s socio-economic growth.
Customer-Centric Banking Solutions
  • Offers innovative banking products, including loans, investment opportunities, and digital financial services,
    tailored to individual and business needs.
Strong Market Presence
  • Operates over 600 branches nationwide, ensuring accessibility and quality banking services across Nigeria.

Banks That Merged with Ecobank Nigeria

Over the years, Ecobank Nigeria has expanded through strategic mergers and acquisitions. The most significant merger was with Oceanic Bank International Plc in 2011, which greatly increased its branch network and market presence in Nigeria.

Key Bank Merger:
  • Oceanic Bank International Plc (2011)
  • Acquired 100% shareholding in Oceanic Bank.
  • Expanded Ecobank’s footprint, making it one of the largest banks in Nigeria.
  • Strengthened its customer base and financial services portfolio.

Before the merger with Oceanic Bank, Ecobank Nigeria also benefited from Nigeria’s banking sector consolidation policy in 2006, which led to the absorption of some smaller financial institutions, further strengthening its position in the industry.

Current Status of Ecobank Nigeria Plc (2024)

Subsidiary of Ecobank Transnational Incorporated (ETI):
  • Ecobank Nigeria remains a key subsidiary of Ecobank Transnational Incorporated (ETI), which operates in 36 African countries.
Strong Market Presence:
  • Operates over 600 branches across Nigeria.
  • Serves millions of customers, including individuals, businesses, and corporate clients.
Digital Banking Leader:
  • Offers *Ecobank Mobile App, USSD Banking (326#), and Internet Banking for seamless transactions.
  • Expanded Ecobank Xpress Point Agent Banking, allowing access to banking services in remote areas.
Award-Winning Financial Institution:
  • Best Retail Bank in Nigeria (2023) – Awarded by BusinessDay BAFI Awards.
  • Best Bank for SMEs in Nigeria (2024) – Recognized by Global Finance for supporting small businesses.
Focus on Financial Inclusion and Innovation:
  • Provides loans, savings, investments, and credit facilities tailored to various customer needs.
  • Supports small and medium-sized enterprises (SMEs) and corporate businesses with financing solutions.
Regulatory Compliance:
  • Supervised by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).
Commitment to Corporate Social Responsibility (CSR):
  • Invests in financial literacy programs, youth empowerment, and sustainability initiatives to support economic development.

Financial Performance

As of the latest available data, Ecobank Nigeria Plc operates as a subsidiary of Ecobank Transnational Incorporated (ETI), the pan-African banking group with a presence in 36 African countries. While specific financial figures for Ecobank Nigeria are not publicly disclosed separately, the consolidated financial performance of the Ecobank Group provides insight into the bank’s overall health.​

In the 2023 financial year, the Ecobank Group reported a profit before tax (PBT) of $581 million, an 8% increase from the previous year. Net revenue reached $2.1 billion, surpassing the $2.0 billion mark for the first time since 2015. ​

These results demonstrate the resilience and strength of Ecobank’s diversified business model across its pan-African operations. While specific financial metrics for Ecobank Nigeria are not publicly detailed, the bank’s contributions are integral to the group’s overall performance.​

Services Offered by Ecobank Nigeria Plc

Ecobank Nigeria provides a wide range of financial products and services tailored for individuals, businesses, and corporate clients.

Retail Banking Services (For Individuals)
  • Savings & Current Accounts – Various account options for personal banking.
  • Loans & Credit Facilities – Personal loans, salary advances, and mortgages.
  • Debit & Credit Cards – Mastercard, Visa, and Verve cards for local and international transactions.
  • Digital Banking – Mobile app, internet banking, and USSD banking (*326#) for easy transactions.
  • Remittance Services – Western Union, MoneyGram, Ria, and Rapid Transfer for sending and receiving money.
Business & SME Banking
  • Business Accounts – Tailored for small, medium, and large businesses.
  • SME Loans & Financing – Funding solutions for small and medium-sized enterprises.
  • Trade Finance – Import/export financing, letters of credit, and supply chain finance.
  • POS & Merchant Services – Payment solutions for businesses to receive card payments.
  • Business Advisory Services – Support for financial planning and growth strategies.
Corporate & Investment Banking
  • Corporate Accounts – Designed for large businesses and multinational corporations.
  • Treasury & Cash Management – Liquidity management, foreign exchange services, and investment options.
  • Project & Infrastructure Financing – Funding for large-scale projects across various industries.
  • Trade & Commodity Finance – Support for businesses involved in international and regional trade.
Digital & Alternative Banking Solutions
  • Ecobank Mobile App – 24/7 banking services via mobile devices.
  • *USSD Banking (326#) – Quick banking without internet access.
  • Ecobank Xpress Point – Agent banking services for financial inclusion in rural areas.
  • Internet Banking – Secure online banking for personal and business accounts.
Wealth & Investment Services
  • Fixed Deposits & Investment Plans – Secure savings and investment growth options.
  • Asset Management – Investment solutions for individuals and businesses.
  • Insurance Services – Life, health, and asset protection plans.

Summary of Ecobank Nigeria Plc

Ecobank Nigeria Plc is a subsidiary of Ecobank Transnational Incorporated (ETI), a leading pan-African banking group operating in 36 African countries. Established in 1986, the bank has grown significantly, expanding its services in retail, business, corporate, and digital banking.

One of its major milestones was the acquisition of Oceanic Bank International Plc in 2011, which strengthened its market presence. It has since continued to lead in digital banking innovation, offering services like the *Ecobank Mobile App, USSD banking (326#), and Ecobank Xpress Point Agent Banking for financial inclusion.

Ecobank Nigeria provides a range of financial products, including savings and current accounts, loans, trade finance, treasury services, investment solutions, and remittance services. The bank has received multiple awards, including Best Retail Bank in Nigeria (2023) and Best Bank for SMEs in Nigeria (2024).

With over 600 branches nationwide, Ecobank Nigeria remains committed to financial integration, innovation, and economic development in Nigeria and across Africa