Standard Chartered Bank has announced that from February 28, 2026, it will terminate banking relationships with customers who do not meet its new ₦7.5 million Assets Under Management (AUM) requirement.
In a notice titled “Important Notice: Branch Network and Segment Update,” the bank said accounts that fail to meet the minimum balance by the deadline will be closed as part of its new Emerging Affluent Segment strategy.
The notice also revealed that beginning January 15, 2026, the bank will close several of its branches to streamline operations and enhance efficiency through increased digitalisation.
“These closures build on our digitisation efforts to streamline processes, optimise resources, and meet the evolving expectations of our clients,” the bank stated.
Standard Chartered reaffirmed its compliance with the Central Bank of Nigeria’s ₦200 billion minimum capital requirement and assured customers of its financial strength and ongoing commitment to supporting their banking needs.
During the consolidation, only its branches in Lagos, Abuja, and Rivers State will remain operational.
The bank, which began operations in Nigeria in 1894, has undergone several transformations and now operates as Standard Chartered Bank Nigeria Limited, offering retail, corporate, and institutional banking services with a strong focus on digital banking and trade finance.
