The Central Bank of Nigeria (CBN) has on September 14, 2020 granted Greenwich Trust Limited a licence to operate as a Merchant Bank in the country.
The entity is now to be known as Greenwich Merchant Bank Limited. The licence allows the bank to upscale and offer such diverse services as corporate banking, investment banking, financial advisory services, securities dealing treasury, wealth and asset management, among others, making it possible to provide increased value to stakeholders beyond its previous scope.
With this new licence, Nigeria has six merchant banks operating in the country. Others include Coronation Merchant Bank Limited, FBN Merchant Bank, FSDH Merchant Bank Limited, NOVA Merchant Bank, and Rand Merchant Bank Nigeria Limited.