Finance - Intelpoint

Jaiz Bank spent the highest share of revenue on staff among NGX-listed banks

Jaiz Bank spent the highest share of revenue on staff in 2025. Jaiz spent nearly ₦18 on staff for every ₦100 of revenue. ETI and UBA followed with the next highest staff-cost-to-revenue ratios. GTCO had the lowest staff-cost burden among the listed banks. ETI spent the most in absolute staff costs, at ₦782.8 billion.

Kenyan banks’ non-performing loan ratios fell, with KCB’s ratio down 2.9 points

All eight selected Kenyan banks reduced their NPL ratios in 2025.
KCB recorded the largest improvement, with a 2.9% point drop.
KCB still had the highest NPL ratio in the group at 16.9%.
Co-operative Bank remained highly stressed at 15.7%, despite some improvement.
Equity Bank and Absa Bank Kenya both ended 2025 at 11.5%.
Standard Chartered Kenya had the lowest NPL ratio in the group at 5.5%.

Internationally authorised Nigerian banks have raised over ₦3.3tn since March 2024

Internationally authorised Nigerian banks have raised and injected over ₦3.3 trillion in new capital since March 2024.
The recapitalisation exercise is being driven by the Central Bank of Nigeria’s requirements, with the deadline expected in March 2026.
Zenith Bank currently has the highest capital among the banks shown, reaching about ₦614 billion.
Access Holdings has about ₦602.8 billion in total capital.
Fidelity Bank raised the largest single capital injection in the group, about ₦437.85 billion, pushing its total capital to ₦564.5 billion.
FCMB has the highest previous capital base among the banks listed (₦266.5 billion) before the recapitalisation injection.

Nigeria had about 135 bank accounts per 100 people in 2025, up from 32 bank accounts in 2017

Active bank accounts grew from 65 million in 2016 to over 320 million in 2025 — almost a fivefold increase.
Bank accounts per 100 people rose from about 32 in 2017 to nearly 135 in 2025.
Nigeria now averages more than one bank account per person.
The fastest growth phase occurred between 2019 and 2024.
Digital banking and fintech adoption played a major role in the surge.
The jump after 2020 suggests technology-driven access, not just population growth.
Multiple account ownership is now common among users.

Nigeria saw an increase of 2.9 million deployed POS in 2024, following the naira redesign in 2023

Deployed POS terminals grew from about 156,000 in 2017 to 8.4 million in 2025.
Nigeria added more than eight million terminals in eight years, indicating rapid adoption of digital payments.
Growth accelerated sharply after 2020, marking a major shift toward cashless transactions.
The highest year-on-year growth (116.8%) occurred in 2024, following the naira redesign.
About three million terminals were added in 2024 alone.
POS agents became critical financial access points during the period of cash shortage.
POS terminals now function as mini-banks in many communities.
Financial inclusion has expanded through agent-based banking and POS networks.

UBA is the only Tier 1 bank in Nigeria that grew its profit in the first three quarters of 2025 compared to 2024

FUGAZ posted a combined ₦2.91 trillion in profit from Q1 to Q3 of 2025.
Access Bank recorded the lowest PAT among the FUGAZ
UBA recorded a 3% year-on-year increase in PAT
FUGAZ recorded an average year-on-year percentage change of -11.2% for the period

Lagos State generated the vast majority of Nigeria's IGR at ₦1.3 trillion, accounting for over 35% of the ₦3.7 trillion total IGR

Nigeria’s total IGR in 2024 was ₦3.7 trillion.
Lagos State generated ₦1.3 trillion, accounting for over 35% of the national IGR.
Rivers State (₦317.3 billion) and the FCT, Abuja (₦282.4 billion) ranked second and third, respectively.
The South West led regionally with ₦1.7 trillion in total IGR.
The North East recorded the lowest regional IGR at ₦129.8 billion.
Economic disparity between regions remains wide, with Lagos alone outpacing entire regions.

Nigeria’s South East region is the only one where MDAs' revenue (60.9%) exceeded Total Tax Revenue (39.10%) in 2024

The South East is the only region where the revenue of MDAs (60.9%) exceeded tax revenue (39.1%).
Other regions relied more heavily on tax revenue, with the South South leading at 85.25%.
The North East and North Central followed closely, with tax contributions of 79.9% and 79.15%, respectively.
The South West generated 75.04% of its IGR from taxes, indicating a strong formal revenue structure.
The North West maintained a more balanced mix, with 58.54% tax and 41.46% MDAs’ revenue.

Lagos and Rivers have dominated Nigeria’s revenue rankings since 2008

A total of ₦20.45 trillion in Internally Generated Revenue (IGR) has been recorded nationwide since 2008.
Lagos State generated ₦1.26 trillion in 2024, maintaining its position as the top revenue-generating state.
For five consecutive years, Yobe and Taraba have consistently ranked among the bottom five states in revenue generation.
FCT IGR records began in 2018.
Enugu State recorded a remarkable 433.03% year-on-year increase in 2024.
Ebonyi (–57.27%), Ondo (–24.70%), and Yobe (–0.99%) were the only states that experienced a decline in IGR in 2024.

GTCO declared ₦476b profit in H1 2025, with Nigeria contributing over 70% of African operations

Nigeria dominates with ₦339.6b, contributing over 70% of GTCO’s total profit after tax in Africa.
Ghana (₦61.9b) and Côte d’Ivoire (₦28.2b) followed as the strongest non-Nigerian subsidiaries.
Tanzania (₦46m) and Uganda (₦505m) contributed negligible profits compared to peers.
GTCO subsidiaries across Africa collectively generated around ₦476b profit after tax in the first half of 2025.

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