Access Bank, Zenith, UBA, Others Shut 476 Branches as Digital Banking Reshapes Nigeria
Nigerian banks have closed 476 branches between 2022 and 2025 as digital banking adoption accelerates. The contraction represents an 8.8% reduction in physical banking infrastructure, with the majority of closures occurring in the last two years.
Why it matters
This shift highlights the rapid digital transformation of the African financial sector and the changing accessibility of banking services for the population.
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Pascal Oparada is a journalist with Legit.ng , covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s banking industry is rapidly reducing its physical footprint as Deposit Money Banks closed a net 476 branches and cash centres between 2022 and 2025.
Data from the Central Bank of Nigeria’s 2025 Statistical Bulletin for the Financial Sector showed that banking locations nationwide fell from 5,410 in 2022 to 4,934 in 2025, an 8.8 per cent contraction over three years.
Top Nigerian banks shut down 500 branches nationwide amid an increase in digital banking. Credit: Novatis Source: Getty Images The reduction came despite an increase in the number of banks operating during much of the period, highlighting the industry’s growing shift from traditional branches to digital and alternative banking channels.
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