A merchant bank is a bank that conducts underwriting, loan services, financial advising, and fundraising services for large corporations and high net worth individuals. In this article we shall be looking at Merchant Banks in Nigeria licensed by Central Bank of Nigeria.
Merchant banks unlike commercial banks do not provide services to the general public. This means they don’t provide banking services like taking deposits and checking accounts. Merchant banks are heavily invested in wealth and asset management; and helping companies raise funds.
It also provides consultancy to its clients for financial, marketing, managerial and legal matters. Consultancy means to provide advice, guidance and service.
List of Merchant Bank in Nigeria
Coronation Merchant Bank
Coronation merchant Bank was first established in 1993 as an associated Discount House Limited. In 2013 it obtained a licensed from CBN to be a merchant bank. it offers product and services in corporate banking, investment banking, wealth management, asset/fund management, global markets, securities trading and trust services.
Head office: Coronation House, Coronation Merchant Bank Limited. 10, Amodu Ojikutu Street, P.O.Box, 74853, Victoria Island. Lagos.
Victoria Island, Lagos,Nigeria.
Read also: How to check BVN using your mobile phone
Rand Merchant Bank
Rand Merchant Bank is a South African owned company established in 1998.Rands merchant bank began formal operations in Nigeria in 2013, after receiving it license from Central Bank of Nigeria (CBN) in 2012.They offers advisory, finance and trading solutions; provides investment opportunities; and manage funds for their clients.
Head office: 12th Floor, Churchgate Tower, Tower 2, Plot PC31, Churchgate Street, Victoria Island, Lagos
, Lagos, Nigeria.
FBNQuest Merchant Bank
FBNQuest merchant bank is a Nigeria based financial institution. It obtained it licensed from CBN to be a merchant bank in 2014. FBN Quest services include: coverage & corporate banking, financial advisory, debt capital markets, equity capital markets, debt solutions, institutional sales, fixed income currency & treasury, and wealth management. FBNQuest also cater for financial needs of small and medium Enterprises(SMEs).
Head office: 16 Keffi Street, Off Awolowo Road, S.W. Ikoyi, Lagos, Nigeria.
FSDH Merchant Bank
First security discount merchant Bank is a Nigeria based financial institution established in 1992. It obtained a licensed to be a merchant bank from CBN in 2012. Their services include: cash management, wealth management, risk management, financing services and advisory services.
FSDH offers solutions to medium and large corporation, high net worth individuals and the government.
Head office: 1/5 Odunlami St, Lagos Island, Lagos.
Nova merchant Bank
Nova is one of the recently licensed Merchant Banks in Nigeria with a focus on wholesale and investment banking.
It provides financial services solutions which involves corporate banking, investment banking, advisory, capital markets, wealth and asset management. Nova focuses on the oil and gas sector, commodity and agricultural business, utility and infrastructure, fast moving consumer goods, trade & services and financial institutions.
Head office: 23 Kofo Abayomi St, Victoria Island, Lagos
So, there you have it; the list of merchant banks licensed by the Central Bank of Nigeria. Our goal is to make sure you are informed so that you don’t fall into the hands of fraudulent persons and invest in an unlicensed merchant Bank
We will like to know if you have transacted with any of the merchant banks listed, and what your experience was. Do let us know in the comments.