Standard Chartered Bank Nigeria to Close Accounts Below N7.5 Million Balance

Standard Chartered Bank in Nigeria has announced plans to close accounts with balances below N7.5 million from February 28, 2026, targeting its emergent affluent segment. The move is aimed at optimizing services and improving customer value.

The bank assures customers that its online and mobile banking platforms will remain fully operational. The CEO, Dalu Ajen, sees this as a milestone reflecting the bank's commitment to supporting clients and contributing to Nigeria's financial growth.

Commercial bank deposits in Nigeria have been on the rise, reaching N150.3 trillion in the first half of 2025.