Nigerian banks reduced their physical presence across the country by 476 branches and cash centres between 2022 and 2025, according to data from the Central Bank of Nigeria (CBN).
The number of bank branches and cash centres fell from 5,410 in 2022 to 4,934 in 2025, representing an 8.8 per cent decline over the three-year period.
The reduction reflects the banking sector’s growing shift toward digital banking, mobile applications, internet banking, ATMs and other electronic payment channels. Banks are increasingly encouraging customers to carry out transactions without visiting physical branches.
Lagos recorded the largest decline, losing 158 banking locations during the period. Its total fell from 1,602 locations in 2022 to 1,444 in 2025.
While the shift to digital banking can reduce operating costs for banks and make services more convenient, the decline in physical branches could create challenges for customers who still depend on face-to-face banking, particularly in areas with limited internet connectivity.
The CBN figures therefore highlight how rapidly Nigeria’s banking industry is changing as financial institutions move more services online.
