Lagos — Nigerian banks generated a combined N209.18 billion from account maintenance charges in the first quarter of 2026, marking a 14.07 per cent increase from the N183.37 billion recorded in the same period last year.
According to an analysis of the unaudited financial statements of 11 listed lenders, total fee and commission income across the sector rose to N984.47 billion in Q1 2026, up by 13.64 per cent from N866.30 billion a year earlier. The figures exclude FCMB Group and Unity Bank, which have yet to publish their earnings.
Among the banks reviewed, Zenith Bank recorded the highest account maintenance income at N25.07 billion, representing a 30.81 per cent year-on-year growth. Access Holdings earned N16.68 billion, while Guaranty Trust Holding Company (GTCO) posted N15.12 billion — a 42.15 per cent increase, the strongest among banks that disclosed the figure separately. United Bank for Africa (UBA) generated N13.26 billion.
In total fee and commission income, Ecobank led the industry with N237.80 billion, followed by Access Holdings (N205.03 billion), UBA (N124.07 billion), First Holdco (N96.12 billion), and Zenith Bank (N84.79 billion).
The Central Bank of Nigeria recently released an updated Guide to Charges effective May 1, 2026, capping current account maintenance charges at 0.5 per mille with a phased reduction to zero by 2027.
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