
Zenith Bank







Data from the Nigerian Exchange has revealed Nigeria’s biggest banks as of February, as investors scramble for top banks’ shares on earnings outlook.

Commercial and merchant banks increased their deposits to CBN by 627.17%, amounting to N9.39 trillion in January 2025, compared to N1.29 deposited the time in 2024.

The Central Bank of Nigeria (CBN) has opened a window for next of kin, legal guardians and other beneficiaries to claim funds left in dormant accounts.

According to data from the Nigeria Inter-Bank Settlement sector, there were 311.65 million active accounts in the Nigerian banking industry as of December 2024.

Nigerian banks have been paying their debts to telecommunication companies for Unstructured Supplementary Service Data (USSD) services since 2019.

About seven banks, mostly tier-1 entities, have raised about N1.3 trillion in pursuit of the Central Bank of Nigeria (CBN) recapitalisation deadline.

Deposit Money Banks (DMBs) that owed telecommunication companies and were facing USSD disconnection are now safer after making last-minute payments.

Nine banks are scrambling to repay debts owed to Telcos from the use of USSD codes and avoid being disconnected from the service by the January 27 deadline.

Zenith Bank, one of Nigeria's tier-one banks, has reportedly increased its staff salaries and promoted about 4,000 of its personnel in a company-wide restructuring
Zenith Bank
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