Banks make N209bn from account maintenance fees in three months

Nigerian banks generated a substantial N209.18 billion from account maintenance charges in the first quarter of 2026. This figure represents a significant 14.07% increase compared to the N183.37 billion earned during the same period in 2025, according to an analysis of unaudited financial statements from 11 listed lenders.

The overall fee and commission income for these banks also saw a healthy rise, climbing 13.64% year-on-year to N984.47 billion in Q1 2026 from N866.30 billion in Q1 2025. These figures, derived from the results of 11 out of 13 banks listed on the Nigerian Exchange, exclude FCMB Group and Unity Bank, which had not yet published their first-quarter financial reports.

Account maintenance fees are regulated charges specifically for current accounts, designed to help banks recoup the operational costs of active transactional accounts. Zenith Bank recorded the highest earnings from these fees, totaling N25.07 billion. Ecobank Transnational Incorporated followed, with N118.06 billion reported under cash management and related fees, which serves as the closest disclosed equivalent.

In terms of total fee and commission income, Ecobank led with N237.80 billion, followed by Access Holdings (N205.03 billion) and United Bank for Africa (N124.07 billion). Among the banks that disclosed account maintenance income separately, Guaranty Trust Holding Company (GTCO) experienced the fastest growth, with charges increasing by 42.15% to N15.12 billion. However, not all banks saw growth in this specific income stream; Fidelity Bank's earnings declined by 2.52%, and Stanbic IBTC's related fees fell by 4.98%.