Nigerian Banks Earn N209bn from Account Maintenance Fees as Q1 Fee Income Nears ₦1tn

In the first quarter of 2026, 11 listed Nigerian banks recorded a combined ₦209.18bn in account maintenance charges, up 14.1% from ₦183.37bn in Q1 2025. Total fee and commission income across these lenders rose 13.6% year-on-year to ₦984.47bn. Ecobank led in overall fee income with ₦237.80bn, while Zenith Bank topped maintenance fees at ₦25.07bn. Growth rates varied: GTCO’s maintenance charges jumped 42.2%, Sterling’s rose 38.3%, and Wema’s climbed 31.3%, whereas Fidelity Bank saw a 2.5% decline. Analysts link the uptick to stronger economic activity and greater confidence in the formal sector.

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