Nigeria's depositors with commercial banks (per 1,000 adults) was 1,914 in 2024, the latest year in the World Bank's World Development Indicators. That is up 207.61% from 622.37 in 2014 (11.89% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1,914 | 2024 |
| Five years earlier | 1,073 | 2019 |
| Ten years earlier | 622.37 | 2014 |
| Highest | 1,940 | 2023 |
| Lowest | 284.28 | 2007 |
| Average since 2015 | 1,254 | 2015–2024 |
| First recorded | 284.28 | 2007 |
What the numbers say
In 2024, Nigeria's depositors with commercial banks (per 1,000 adults) fell 25.18 on 2023 (from 1,940 to 1,914).
Across the 16 yearly changes before that (2008 to 2023), the average change was +103.46 and a typical year strayed about 92.47 from that (the standard deviation). This year's change was 1.4 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 338.31 in 2022 and the biggest yearly fall was 25.18 in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 153.64 a year. A straight line explains 97% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Nigeria had the 10th highest value of the 74 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Nigeria | 1,914 | 2024 |
| Sub-Saharan Africa | 457.24 | 2024 |
| Lower middle income | 675.32 | 2024 |
Closest to Nigeria in the 2024 ranking
- Costa Rica — 6th of 74: 1,958
- Azerbaijan — 7th of 74: 1,949
- Maldives — 8th of 74: 1,936
- Cabo Verde — 10th of 74: 1,884
- Saudi Arabia — 11th of 74: 1,834
- Moldova — 12th of 74: 1,817
What this measures
Depositors with commercial banks are the reported number of deposit account holders, including both resident non-financial corporations (both public and private) and individuals from the household sector, at commercial banks within the reporting jurisdiction for every 1,000 adults. The major types of deposits are checking accounts, savings accounts, and time deposits.
Limitations: For many countries data cover the total number of deposit accounts due to lack of information on account holders.
Regional and income-group figures are computed by the World Bank as a median.
All 18 values
| Year | Depositors with commercial banks (per 1,000 adults) |
|---|---|
| 2024 | 1,914 |
| 2023 | 1,940 |
| 2022 | 1,727 |
| 2021 | 1,388 |
| 2020 | 1,248 |
| 2019 | 1,073 |
| 2018 | 963.85 |
| 2017 | 877.9 |
| 2016 | 774.93 |
| 2015 | 636.25 |
| 2014 |
Depositors with commercial banks (per 1,000 adults) in nearby economies
- Benin — 266.61 (2024)
- Botswana — 850.96 (2024)
- Burkina Faso — 234.52 (2023)
- Burundi — 11.83 (2020)
- Cabo Verde — 1,884 (2024)
- Cameroon — 121.45 (2020)
- Chad — 49.02 (2022)
- Comoros — 178.75 (2024)
- Congo, Dem. Rep. — 41.42 (2018)
- Congo, Rep.
More financial sector data for Nigeria
- Broad money (current LCU) — 126.82 trillion (2025)
- Broad money (% of GDP) — 28.72% (2025)
- Broad money to total reserves ratio — 1.81 (2025)
- Consumer price index (2010 = 100) — 860.32 (2025)
- Inflation, consumer prices (annual % growth) — 23.01% (2025)
- GDP deflator (base year varies by country) — 194.92 (2025)
- DEC alternative conversion factor (LCU per US$) — US$1,518 (2025)
- Official exchange rate (LCU per US$, period average) — US$1,518 (2025)
- Broad money (annual % growth) — 11.87% (2025)
- Inflation, GDP deflator (annual % growth)
Reading data like this
Questions people ask
- What is Nigeria's depositors with commercial banks (per 1,000 adults)?
- 1,914 in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2007?
- It is up 573.46% from 284.28 in 2007 (11.87% a year on average, compounded). The highest value was 1,940 in 2023 and the lowest 284.28 in 2007.
- How does Nigeria rank?
- 10th highest of 74 economies with data for 2024.
- Is the latest change in depositors with commercial banks (per 1,000 adults) unusual for Nigeria?
- In 2024, Nigeria's depositors with commercial banks (per 1,000 adults) fell 25.18 on 2023 (from 1,940 to 1,914). Across the 16 yearly changes before that (2008 to 2023), the average change was +103.46 and a typical year strayed about 92.47 from that (the standard deviation). This year's change was 1.4 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator FB.CBK.DPTR.P3, licensed CC BY 4.0. Original source: Financial Access Survey, International Monetary Fund (IMF), uri: https://data.imf.org/en/datasets/IMF.STA:FAS Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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