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Over the years, there have been an escalating shift from manual work to knowledge work all over the world and knowledge workers are in high demand. This study explores how well knowledge management factors such as information technology, organizational culture, measurement, management leadership and support, and human resources management exist in the Nigerian banking industry and it examined how well these critical success factors are being implemented. The study uses study consisted of members of staff of six selected Nigerian banks. A total of 100 copies of research questionnaire were administered to collect data for the study.  The 100 questionnaires were administered to the respondents out of which 72 copies were duly filled and found usable, amounting to 72% response rate. The study found that there is high level of management leadership and support with mean score of 4.01, organizational culture (4.01), measurement (4.02); information technology (4.43), and human resources management practices (4.18). In total, the mean score for knowledge management practice in the Nigerian banking industry is 4.43, making it a highly practiced concept in the Nigerian banking industry. It is recommended that management of banks in Nigeria should invest in knowledge management activities especially in this time that most economies in the world are knowledge-based.