Standard Chartered Bank will stop servicing personal accounts that hold less than ₦7.5 million from 28 February 2026, closing any such accounts automatically as part of its “Emerging Affluent Segment” strategy that focuses on higher‑net‑worth customers.
The bank also announced that a number of branches will shut from 15 January 2026 as it accelerates a digital‑first approach, though online and mobile banking will continue to operate unchanged. Only a few locations in Lagos, Abuja and Rivers State will remain open for customers who prefer in‑person service.
Despite the branch rationalisation, Standard Chartered says it remains well‑capitalised, having met the Central Bank of Nigeria’s ₦200 billion capital requirement for national commercial banks, and it is equipped to support all clients in achieving their financial goals. The bank emphasises that the move is aimed at streamlining its product offering and improving efficiency.
Customers whose balances are below the new threshold are advised to review their accounts, consider consolidating funds or upgrading to a qualifying product, and contact their nearest branch or the 24‑hour Client Contact Centre before the February deadline to avoid disruption to payments, cards or other services.
