6 Banks Share N1.27trn While 5 Others Got CBN Slap

The Big Boys Who Paid Up — And Those Who Didn't

Omo, let's talk about money — serious, eye-watering, jaw-dropping Nigerian bank money. In 2025, six of Nigeria's biggest commercial banks collectively shared a whopping N1.27 trillion in dividends among their shareholders. Yes, trillion with a capital T. Meanwhile, five other profitable banks — banks that were also making serious profit, mind you — couldn't pay their shareholders a single kobo because the Central Bank of Nigeria (CBN) held them by the collar and said, "Not today, my friend."

So who are the lucky six that opened their vaults and smiled at their investors? Let's break it down properly:

• Zenith Bank — The grandmaster of dividends. Zenith paid out a total dividend of N1.00 per share, keeping its crown as one of the most shareholder-friendly banks in Nigeria.
• Access Holdings — Herbert Wigwe's legacy institution came through strong, rewarding shareholders generously as the group continues its continental expansion.
• Guaranty Trust Holding Company (GTCO) — GTBank's parent company maintained its tradition of rewarding shareholders, because e no dey do them anyhow when it comes to returns.
• United Bank for Africa (UBA) — Tony Elumelu's pan-African giant was solidly on the list, as expected from a bank operating across 20+ African countries.
• Stanbic IBTC Holdings — The South African-backed institution continued to deliver for its investors, proving that foreign-linked banks know how to treat shareholders.
• FBN Holdings — First Bank's holding company made the cut, a welcome development for long-suffering First Bank shareholders who have watched the institution's drama for years.

The Walk of Shame — 5 Banks That CBN Blocked

Now here's where it gets spicy. Five other Nigerian banks — all of which recorded profits, mind you — were barred by the CBN from paying dividends to their shareholders. The reason? They failed to meet the apex bank's prudential requirements, which essentially means their capital buffers, non-performing loan ratios, or recapitalisation targets were not up to scratch.

These are the banks that couldn't make the cut:

• Fidelity Bank — Still in the middle of its recapitalisation drive, Fidelity shareholders had to wait despite the bank posting decent numbers.
• FCMB Group — First City Monument Bank's parent company was also restrained, as capital adequacy concerns took priority over shareholder joy.
• Sterling Financial Holdings — The mid-tier lender continues to grapple with the pressures of the CBN's recapitalisation exercise.
• Unity Bank — Unity Bank has been navigating serious existential challenges, including merger talks with Providus Bank, so dividends were never on the cards.
• Wema Bank — ALAT's parent institution, despite being innovative and digitally forward, couldn't clear the CBN's prudential hurdles this time around.

To be clear, being blocked from paying dividends doesn't mean these banks are about to collapse — it means the CBN is forcing them to retain earnings and shore up their capital bases first. It's actually a responsible regulatory move, even if shareholders are not smiling right now.

But Wait — Where Does the Ordinary Nigerian Come In?

This is the part that should make every Nigerian who doesn't own bank shares pause and ask serious questions. N1.27 trillion. Let that sink in. That is more than the annual budget of several Nigerian states combined. That money went to shareholders — mostly institutional investors, high-net-worth individuals, foreign portfolio investors, and the top 1% of Nigerians who can afford to buy and hold shares on the Nigerian Exchange Group.

Meanwhile, the average Nigerian is queuing at these same banks, paying ATM charges, transfer fees, SMS alert fees, account maintenance fees, and every other creative charge that bank executives can dream up in a boardroom. The same customer who deposits N50,000 salary and pays N52 for every transfer is essentially helping to fund these trillion-naira profits. Yet when it's time to share the proceeds? E no concern them.

The wealth concentration story here is glaring. Nigeria's banking sector is extraordinarily profitable — driven largely by high interest rates, foreign exchange gains, and fees extracted from a customer base that has very few alternatives. When the naira collapsed and businesses were struggling, banks were booking massive FX revaluation gains. When interest rates hit 27.5%, banks were collecting eye-popping returns on government securities while the same government was borrowing to fund basic infrastructure.

The CBN Recapitalisation Pressure Is Real

To give context to why five banks got blocked — the CBN under Governor Olayemi Cardoso has been pushing an aggressive recapitalisation exercise, requiring commercial banks to significantly increase their minimum capital requirements. This is not a joke or a PR exercise; it's a serious structural reform designed to make Nigerian banks stronger and capable of funding large-scale infrastructure and industrial projects.

The deadline pressure means banks that haven't hit their targets simply cannot be giving out cash to shareholders while their capital base remains thin. It's like spending your savings on a party when your rent is overdue — the CBN is essentially the landlord saying, "Oga, sort your house first."

What Should Nigerians Take From This?

First, if you are not a shareholder in any of these banks, this is your annual reminder that the Nigerian stock market exists and ordinary people can buy bank shares. With as little as N10,000, you can begin to own a piece of these profit-making machines and get your own slice of the dividend pie. Check out the Nigerian Exchange Group (NGX) and speak to a stockbroker.

Second, the bigger conversation about who benefits from Nigeria's financial sector growth needs to happen at the policy level. Nigerians are paying more bank charges than ever, interest rates on loans are punishing small businesses, and mortgage rates remain out of reach for middle-class Nigerians. But the banks? They are sharing N1.27 trillion like it's nothing.

The six banks that paid deserve their flowers for rewarding patient investors. The five that couldn't pay should use this period to get their houses in order. But the elephant in the room — the one nobody in a boardroom wants to address — is this: when does the average Lagosian, Abujian, or Kano resident start to benefit meaningfully from the enormous profits generated off their deposits and transaction fees?

Until then, the money will keep flowing — just not in our direction. Na so e be for naija.