Standard Chartered Bank Nigeria has announced plans to discontinue banking relationships with customers whose accounts hold less than N7.5 million by February 28, 2026.
The bank said the decision aligns with its new Emerging Affluent Segment strategy and a broader restructuring of its personal banking services.
According to a notice released by the Bank titled “Important Notice: Branch Network and Segment Update,” the bank explained that, accounts that fail to meet the new minimum Assets Under Management, AUM, threshold before the deadline will be closed.
The bank also disclosed that it will shut down some of its branches starting January 15, 2026, as part of its ongoing efforts to enhance operational efficiency and customer experience.
“These closures build on our digitisation drive, which began a few years ago, aimed at simplifying processes, optimising resources, and delivering more efficient service solutions tailored to clients’ evolving needs,” the bank said.
Standard Chartered assured customers of its financial strength and continued compliance with the Central Bank of Nigeria’s N200 billion minimum capital requirement for national commercial banks.
The bank reaffirmed that its digital platforms, online and mobile banking, will remain fully functional, providing customers with convenient access to transactions and other banking services.
Branches in Lagos, Abuja, and Rivers State will remain operational after the restructuring takes effect.
