Nigerian banks earned a combined N209.18bn from account maintenance charges in the first quarter of 2026, representing a 14.07 per cent increase from the N183.37bn recorded in the corresponding period of 2025, an analysis of the unaudited financial statements of 11 listed lenders by The PUNCH has shown.
The review also showed that total fee and commission income rose to N984.47bn in Q1 2026 from N866.30bn in Q1 2025, indicating a 13.64 per cent year-on-year increase.
The figures, drawn from the results of 11 of the 13 banks listed on the Nigerian Exchange, exclude FCMB Group and Unity Bank, which had yet to publish their unaudited first-quarter financial statements.
Account maintenance fees are regulated charges applicable only to current accounts, according to the Central Bank of Nigeria’s Guide to Charges by Banks and Other Financial Institutions. The fee replaced the former Commission on Turnover and is intended to enable banks to recover the cost of operating active transactional accounts.
An analysis of the banks’ earnings showed that Zenith Bank generated the highest account maintenance income at N25.07bn, followed by Ecobank Transnational Incorporated with N118.06bn recorded under cash management and related fees, which serves as the closest disclosed equivalent. Access Holdings posted N16.68bn, Guaranty Trust Holding Company earned N15.12bn, while United Bank for Africa generated N13.26bn.
In terms of total fee and commission income, Ecobank led the pack with N237.80bn, followed by Access Holdings with N205.03bn, UBA with N124.07bn, First Holdco with N96.12bn and Zenith Bank with N84.79bn.
Among lenders that disclosed account maintenance income separately, GTCO recorded the fastest growth, with charges rising by 42.15 per cent from N10.63bn to N15.12bn.
