Standard Chartered Bank has announced that, starting February 28, 2026, it will discontinue services for customers who do not maintain a minimum Assets Under Management (AUM) of N7.5 million. The move aligns with the bank’s newly defined Emerging Affluent Segment.
In a notice titled “Important notice: Branch network and segment update,” the bank warned that accounts failing to meet the required balance by the deadline will be closed. The announcement explained that the personal banking segment is being phased out and replaced with the AUM-focused structure.
Additionally, from January 15, 2026, the bank will close several branches as part of efforts to optimize service delivery and enhance customer value. The closures support ongoing digitisation initiatives aimed at streamlining processes, channels, products, and services while efficiently allocating resources to meet evolving client needs.
The bank emphasized that it continues to meet the Central Bank of Nigeria’s minimum capital requirement of N200 billion for national commercial banks and remains fully capable of supporting customers in achieving their financial objectives. Its online and mobile banking platforms will remain fully functional, enabling account management, transactions, and access to services remotely.
Branches in Lagos, Abuja, and Rivers State will continue operations.
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