Banex Mall or The Palms? Full honest comparison of Lekki's two most discussed shopping malls — cinema, parking, food, event halls, vendors and location
Banex Mall vs The Palms Shopping Mall, Lekki — An Honest 2026 Comparison
If you have spent any time in Lekki and asked someone where to go for a proper mall experience, you have almost certainly been told The Palms.
The Palms Shopping Mall on the Lekki-Epe Expressway is the most mentioned mall in Lekki. It has a Shoprite, a cinema, and a brand recognition built over many years.
For certain kinds of shopping and certain kinds of Lekki residents, it is still the default.
But Banex Mall on Akiogun Road, Oniru, has been operating since at least 1994 and in 2026, it offers a visitor experience that competes with The Palms on several dimensions and surpasses it on others that the standard review tends to overlook.
This is the comparison no one has written honestly. Here it is.
Location — Who Wins for Lekki Phase 1 and Oniru Residents
The Palms is on the Lekki-Epe Expressway, closer to the Jakande area. For residents of the inner Lekki Phase 1 estates and Oniru, this means navigating through the busier Lekki expressway traffic to get there.
Banex Mall is on Akiogun Road, Oniru
15 minutes from Victoria Island via Ozumba Mbadiwe and within 5–10 minutes of most Lekki Phase 1 estates.
For guests coming from VI, Ikoyi, and Oniru, the drive to Banex is noticeably shorter and less congested.
Winner for Lekki Phase 1 / Oniru residents: Banex Mall. Winner for residents further east toward Chevron / Ajah: The Palms.
Cinema — VVIP Experience
Both malls have a cinema. This is one of the most frequently asked questions in the comparison.
Banex Cinemas was established in 1994.
It offers VVIP, VIP, and standard screening configurations inside the Banex Mall building. The cinema is accessible by lift from the mall's common areas.
The Palms also has a cinema offering with regular programming.
The meaningful difference is the VVIP experience at Banex reclined premium seating in a soundproofed environment that is different in feel from a standard mall cinema.
For residents who prioritise the cinema experience as much as the film itself, Banex Cinemas is the more considered choice.
Winner: Banex Mall on cinema experience quality. Draw on programming range.
Parking — The Lagos Dealbreaker
The Palms has parking, though weekend and public holiday crowds generate the complaints that appear most consistently in reviews.
Banex Mall has free parking for over 100 vehicles on-site, with lift and escalator access to all floors. Weekend parking at Banex is significantly less contested than comparable periods at The Palms.
Winner: Banex Mall.
Vendor Variety — International Brands vs Local Ecosystem
This is where the two malls diverge most clearly in character.
The Palms anchors its appeal on recognisable international and national brands. Shoprite is the primary draw. The fashion and retail offering skews toward established names.
Banex Mall has over 100 vendors spanning technology, fashion, beauty, food, solar and energy, security, professional services, logistics, health, and entertainment.
The vendors are predominantly independent businesses and Nigerian brands which means the experience is more varied, more local, and more practically useful for day-to-day needs.
If you want Shoprite, The Palms wins on that specific anchor. If you want a solar installer, a legal consultation, a travel agency, a CCTV engineer, and a phone repair all in one building; Banex Mall has no equivalent at The Palms.
Winner: The Palms for international brand names. Banex Mall for vendor breadth and practical services.
Event Halls — No Contest
Banex Mall has four dedicated event halls:
- the 170-person Church Hall (₦850,000, built-in stage, soundproofed),
- the 130-person Studio Hall (₦650,000),
- the 100-person Cinema Hall (₦600,000, cinema seating, projector), and
- the hourly Studio for 80 persons (from ₦35,000/hr).
The Palms does not operate dedicated event halls at comparable specifications and pricing for external bookings.
For event planners, corporate organisations, wedding coordinators, and anyone looking for a venue in the Lekki area. Banex Mall is the practical answer and The Palms is not in this comparison at all.
Winner: Banex Mall, clearly.
Food — Quality and Variety
The Palms food court has received consistent criticism in reviews for limited variety and pricing that doesn't match the quality. This is not a blanket condemnation but it appears in enough reviews to be a pattern.
Banex Mall has over 20 food vendors including Chicken Republic, My Noodles Cafe, Zaika Fast Food (Indian, Chinese, burgers, shawarma), and VMAX365 (artisan teas, smoothies, coffee, parfaits at the mall entrance).
The variety covers every mealtime and most food moods.
Winner: Banex Mall on variety. The Palms on brand recognition (Shoprite).
Side-by-Side Comparison
The Honest Verdict
Choose The Palms if:
You want a Shoprite run, you prefer internationally recognised retail brands, or you live closer to the Lekki expressway side.
Choose Banex Mall if:
You want a cinema with a premium experience, you need practical services alongside shopping (tech, health, legal, travel), you are looking for event space in Lekki, you want more diverse food options, or you want to avoid weekend parking stress.
The two malls are not direct substitutes. They serve different versions of the Lekki mall need. The Palms is better known. Banex Mall is, on the metrics that matter for most visits, more complete.
Visit Banex Mall, Oniru, Lekki Phase 1 Address: Plot 1–10 Akiogun Road, Opposite Maroko Filling Station, Oniru, Lekki Phase 1 WhatsApp: 09088733388
Full guide to Banex Mall →
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