Eight major Nigerian banks, including Zenith Bank Plc and Access Holdings Plc, collectively spent about N993.34 billion on regulatory charges to the Asset Management Corporation of Nigeria and Nigeria Deposit Insurance Corporation in 2025, reflecting mounting operating costs in the banking sector.
The figure marks a 38.6% increase from the N716.5 billion recorded in 2024, based on analysis of audited and unaudited financial statements.
The affected banks include Zenith Bank, First Holdco, FCMB Group Plc, Guaranty Trust Holding Company Plc, United Bank for Africa Plc, Wema Bank Plc, Stanbic IBTC Holdings Plc, and Access Holdings.
Breakdown of costs:
- AMCON levy rose to N646.88 billion, up 44.1% from 2024.
- NDIC insurance premiums increased to N346.46 billion, a 29% rise.
These charges are part of regulatory measures designed to safeguard the financial system. The AMCON levy, calculated at 0.5% of total assets and off-balance sheet items, helps fund the resolution of bad loans, while NDIC premiums ensure depositors are protected—currently up to N5 million per account—in the event of bank failure.
Among the banks, Access Holdings recorded the highest AMCON levy, paying N154.33 billion in 2025, while Zenith Bank paid the largest NDIC premium at N77.39 billion.
First Holdco also ranked among the top contributors, with its AMCON payments rising significantly alongside its insurance premiums.
The AMCON framework, established in 2010 to stabilise Nigeria’s banking sector during a period of high non-performing loans, continues to be funded through bank contributions, loan recoveries, and support from the Central Bank of Nigeria.
However, the ongoing levy has drawn criticism from some stakeholders. Investment banker Tajudeen Olayinka argued that the continued imposition of charges suggests the agency has struggled to fully resolve its debt obligations, raising questions about its long-term effectiveness.
Despite the concerns, both AMCON and NDIC remain central to Nigeria’s financial safety net, helping to maintain stability and protect depositors in an increasingly complex banking environment.
