In an update published by **The Guardian**, the total assets of Nigeria’s five tier-one banks—Access, Zenith, UBA, GTCO, and FBN Holdings—have reached a staggering N161.4 trillion. This growth comes as banks move to meet the Central Bank of Nigeria’s (CBN) new recapitalization requirements. The Chartered Institute of Bankers of Nigeria (CIBN) noted that the changing landscape is forcing banks to prioritize strategic liquidity and risk management.
Supporting reports from **Premium Times** and **ThisDay** confirm that banks like UBA are using this asset base to drive an “Africa Forward” agenda. **ThisDay** noted that “UBA Group reaffirms commitment to Africa’s growth agenda,” while **Premium Times** highlighted that “Four major Nigerian banks have published details of over 321,000 dormant accounts” in compliance with recent CBN transparency directives.
**Premium Times** quoted a financial analyst stating, “Broadening the tax base and simplifying the tax code will help Nigeria transition.” **ThisDay** added that “First HoldCo is currently seeking shareholders’ approval for a N253 billion capital raise” to bolster its position.
**Echotitbits take:** The Nigerian banking sector is becoming a behemoth on the continent. While the asset growth is impressive, the “dormant account” cleanup suggests the CBN is tightening its grip on liquidity to fight inflation. Watch for a wave of mergers as smaller banks struggle to keep up with these N100 trillion-plus giants.
Source: The Guardian – https://guardian.ng/business-services/four-tier-one-banks-earn-n14-9tr-in-one-year-amid-pressure-on-profit/, May 13, 2026
Photo credit: The Guardian
