Nigerian banks closed a net 476 branches and cash centres between 2022 and 2025, cutting the industry’s physical network by 8.8 per cent as financial institutions increasingly shift services away from traditional banking halls.
Data from the Central Bank of Nigeria’s 2025 Statistical Bulletin showed that the number of branches and cash centres nationwide fell from 5,410 in 2022 to 4,934 in 2025. The decline became particularly pronounced in the final two years of the period, when most of the closures occurred.
According to Brandspur Banking News Desk, the figures cover locations operated by commercial, merchant and non-interest banks, offering a broader picture of how Nigeria’s banking infrastructure has changed alongside the growth of electronic financial services.
The network declined modestly to 5,373 locations in 2023 before falling to 5,144 in 2024. Another net 210 locations disappeared in 2025. Altogether, about 92 per cent of the three-year reduction occurred during 2024 and 2025.
Lagos recorded the biggest decline, losing 158 branches and cash centres between 2022 and 2025. Its total dropped from 1,602 to 1,444, although the state still accounted for about 29 per cent of all physical banking locations in Nigeria.
The Federal Capital Territory also saw its network contract from 400 locations in 2022 to 362 in 2025. Ekiti experienced an even sharper proportional decline, falling from 107 locations to just 57 — a reduction of almost 47 per cent.
Enugu lost 44 locations over the period, while Oyo recorded a reduction of 41. Ondo, Plateau, Osun, Cross River and Rivers also ended 2025 with fewer banking locations than they had three years earlier.
Not every state followed the downward trend. Delta’s network expanded from 173 locations in 2022 to 196 in 2025, while Edo increased from 155 to 165. Jigawa and Kogi also recorded modest gains.
The figures highlight a continuing imbalance in access to physical banking infrastructure. While Lagos had 1,444 branches and cash centres in 2025, Yobe had only 23, Taraba 26 and Zamfara 28.
The contraction comes as the CBN continues to encourage greater use of alternative payment channels, particularly for farmers, traders, small businesses and informal-sector operators who may have limited access to conventional banking facilities.
