Business
FCCPC backs CBN’s 48-hour refund rule for failed ATM transactions
The Federal Competition and Consumer Protection Commission has commended the Central Bank of Nigeria’s proposed directive, which mandates banks to refund customers for failed Automated Teller Machine transactions within 48 hours.
In a statement on Monday signed by its Director of Corporate Affairs, Ondaje Ijagwu, the Commission described the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria as a timely and long-awaited intervention that aligns with ongoing efforts to protect consumers in the financial services sector.
The draft guideline, released last week, follows the FCCPC’s Consumer Complaints Data Report published in September 2025, which revealed that the banking and fintech industries accounted for the largest volume of consumer complaints nationwide.
The statement read, “The Federal Competition and Consumer Protection Commission welcomes the Central Bank of Nigeria’s draft guidelines requiring all banks to refund customers for failed Automated Teller Machine transactions within 48 hours.
“The exposure of the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria follows the FCCPC’s Consumer Complaints Data Report published in September 2025.
According to the report, more than 3,000 complaints were recorded against banks between March and August 2025, with the Commission facilitating the recovery of over N10bn for consumers across 30 sectors.
The findings highlighted recurring issues such as failed transactions, unauthorised deductions, and prolonged refund delays, the very challenges the new CBN policy seeks to resolve.
“The report, which covered the period from March to August 2025, showed that the banking and fintech sectors accounted for the highest number of complaints nationwide, over 3,000 cases in banking alone, with about ₦10 billion recovered for customers across 30 sectors. The findings highlighted recurring issues such as failed transactions, unauthorised deductions, and delayed refunds, all of which the CBN draft guidelines seek to address,” the statement added.
The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, hailed the CBN’s move as “a timely and long-awaited correction to a persistent consumer challenge.”
“It is consistent with what the FCCPC has been advocating, given the volume of complaints we receive about failed transactions. We commend the CBN for this decisive step, which will ease the burden on consumers and rebuild trust in financial services,” Bello said.
He added that the initiative demonstrates improved coordination among regulatory agencies committed to consumer welfare, even at the draft stage.
The FCCPC further noted that the CBN’s proposed directive aligns with several provisions of the Federal Competition and Consumer Protection Act 2018, particularly Sections 17(g), (h), (l), (s), and (t).
These sections empower the Commission to eliminate unfair practices, promote fair dealings, ensure the resolution of consumer complaints, safeguard consumer interests, and maintain the safety and reliability of goods and services offered in Nigeria.
The Commission urged the prompt adoption and implementation of the CBN’s proposal, stressing that early enforcement would provide immediate relief for consumers still battling unresolved electronic transaction reversals.
“Timely adoption would reinforce accountability within the banking sector and demonstrate a shared regulatory commitment to fairness, efficiency, and consumer confidence,” the statement read.
To ensure compliance, the FCCPC stated that it would collaborate with the CBN to establish a monitoring framework that tracks banks’ adherence to the 48-hour refund rule and ensures prompt redress when violations occur.
The Commission maintained that closer collaboration among financial regulators would promote faster dispute resolution, prevent recurrence of consumer grievances, and bolster confidence in Nigeria’s growing digital economy.
Under the proposed guidelines, customers with unresolved ATM or electronic transaction issues must first lodge their complaints with their banks or the CBN.
If the issue remains unresolved, they can escalate the matter to the FCCPC via its Complaints Portal (complaints.fccpc.gov.ng), email ([contact@fccpc.gov.ng](mailto:contact@fccpc.gov.ng)), or hotline (0805 600 2020).
Nigeria’s electronic payments landscape has grown rapidly in recent years, with 200 million cardholders and rising reliance on digital banking, but network failures, poor infrastructure, and delayed reversals have continued to undermine confidence.
The fresh guidelines, coming eight months after a revision of ATM fees, are expected to streamline service delivery, enhance transaction security, and hold banks accountable. Stakeholders are invited to submit feedback ahead of the final policy adoption, which could take effect before the end of the year.
In a statement on Monday signed by its Director of Corporate Affairs, Ondaje Ijagwu, the Commission described the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria as a timely and long-awaited intervention that aligns with ongoing efforts to protect consumers in the financial services sector.
The draft guideline, released last week, follows the FCCPC’s Consumer Complaints Data Report published in September 2025, which revealed that the banking and fintech industries accounted for the largest volume of consumer complaints nationwide.
The statement read, “The Federal Competition and Consumer Protection Commission welcomes the Central Bank of Nigeria’s draft guidelines requiring all banks to refund customers for failed Automated Teller Machine transactions within 48 hours.
“The exposure of the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria follows the FCCPC’s Consumer Complaints Data Report published in September 2025.
According to the report, more than 3,000 complaints were recorded against banks between March and August 2025, with the Commission facilitating the recovery of over N10bn for consumers across 30 sectors.
The findings highlighted recurring issues such as failed transactions, unauthorised deductions, and prolonged refund delays, the very challenges the new CBN policy seeks to resolve.
“The report, which covered the period from March to August 2025, showed that the banking and fintech sectors accounted for the highest number of complaints nationwide, over 3,000 cases in banking alone, with about ₦10 billion recovered for customers across 30 sectors. The findings highlighted recurring issues such as failed transactions, unauthorised deductions, and delayed refunds, all of which the CBN draft guidelines seek to address,” the statement added.
The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, hailed the CBN’s move as “a timely and long-awaited correction to a persistent consumer challenge.”
“It is consistent with what the FCCPC has been advocating, given the volume of complaints we receive about failed transactions. We commend the CBN for this decisive step, which will ease the burden on consumers and rebuild trust in financial services,” Bello said.
He added that the initiative demonstrates improved coordination among regulatory agencies committed to consumer welfare, even at the draft stage.
The FCCPC further noted that the CBN’s proposed directive aligns with several provisions of the Federal Competition and Consumer Protection Act 2018, particularly Sections 17(g), (h), (l), (s), and (t).
These sections empower the Commission to eliminate unfair practices, promote fair dealings, ensure the resolution of consumer complaints, safeguard consumer interests, and maintain the safety and reliability of goods and services offered in Nigeria.
The Commission urged the prompt adoption and implementation of the CBN’s proposal, stressing that early enforcement would provide immediate relief for consumers still battling unresolved electronic transaction reversals.
“Timely adoption would reinforce accountability within the banking sector and demonstrate a shared regulatory commitment to fairness, efficiency, and consumer confidence,” the statement read.
To ensure compliance, the FCCPC stated that it would collaborate with the CBN to establish a monitoring framework that tracks banks’ adherence to the 48-hour refund rule and ensures prompt redress when violations occur.
The Commission maintained that closer collaboration among financial regulators would promote faster dispute resolution, prevent recurrence of consumer grievances, and bolster confidence in Nigeria’s growing digital economy.
Under the proposed guidelines, customers with unresolved ATM or electronic transaction issues must first lodge their complaints with their banks or the CBN.
If the issue remains unresolved, they can escalate the matter to the FCCPC via its Complaints Portal (complaints.fccpc.gov.ng), email ([contact@fccpc.gov.ng](mailto:contact@fccpc.gov.ng)), or hotline (0805 600 2020).
Nigeria’s electronic payments landscape has grown rapidly in recent years, with 200 million cardholders and rising reliance on digital banking, but network failures, poor infrastructure, and delayed reversals have continued to undermine confidence.
The fresh guidelines, coming eight months after a revision of ATM fees, are expected to streamline service delivery, enhance transaction security, and hold banks accountable. Stakeholders are invited to submit feedback ahead of the final policy adoption, which could take effect before the end of the year.
Continue Reading
…Commits to growing SMEs for global Impact
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reiterated its commitment towards supporting the growth of Small and Medium Scale businesses for global impact, as it headlines the sponsorship of the Lagos International Trade Fair (LITF) for the seventh consecutive year.
Organised by the Lagos Chamber of Commerce and Industry (LCCI), this year’s trade fair, which was flagged off on Friday November 7, at the Tafawa Balewa Square, Onikan, Lagos will be open to all till November 17, 2025, and is expected to attract thousands of exhibitors, investors, and visitors from across Nigeria and the globe.
In line with its customer-first philosophy, UBA will host a rewarding experience for its customers with a dedicated, full-service branch within the trade-fairground.
Account holders who perform any transaction, such as deposits, withdrawals, or transfers, etc, at this branch will be instantly eligible to participate in a special “Lucky Dip” draw, which will offer them the chance to win a variety of premium prizes.
Speaking during the opening ceremony of the fair, UBA’s Head, SME Banking, Babatunde Ajayi, underscored the strategic importance of the longstanding partnership with LCCI while reaffirming that this collaboration is a critical component of the bank’s core mission to mobilise capital as well as empower enterprises of all scales, with a focus on growing SMEs for global impact.
“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”
UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.
“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”
Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”
exclaimernosigrequired
“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”
UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.
“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”
Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reiterated its commitment towards supporting the growth of Small and Medium Scale businesses for global impact, as it headlines the sponsorship of the Lagos International Trade Fair (LITF) for the seventh consecutive year.
Organised by the Lagos Chamber of Commerce and Industry (LCCI), this year’s trade fair, which was flagged off on Friday November 7, at the Tafawa Balewa Square, Onikan, Lagos will be open to all till November 17, 2025, and is expected to attract thousands of exhibitors, investors, and visitors from across Nigeria and the globe.
In line with its customer-first philosophy, UBA will host a rewarding experience for its customers with a dedicated, full-service branch within the trade-fairground.
Account holders who perform any transaction, such as deposits, withdrawals, or transfers, etc, at this branch will be instantly eligible to participate in a special “Lucky Dip” draw, which will offer them the chance to win a variety of premium prizes.
Speaking during the opening ceremony of the fair, UBA’s Head, SME Banking, Babatunde Ajayi, underscored the strategic importance of the longstanding partnership with LCCI while reaffirming that this collaboration is a critical component of the bank’s core mission to mobilise capital as well as empower enterprises of all scales, with a focus on growing SMEs for global impact.
“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”
UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.
“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”
Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”
exclaimernosigrequired
“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”
UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.
“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”
Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”
Business
Elumelu Embarks on Pan-African Tour Championing Entrepreneurship, Infrastructure, Inclusive Growth
United Bank for Africa (UBA) Group Chairman and Founder, Tony Elumelu Foundation, Tony O. Elumelu CFR, a leading advocate for Africapitalism and transformative private sector leadership, will undertake a high impact working tour across East, Central, and Southern Africa this week.
The multi-country visit underscores UBA’s unwavering commitment to fostering economic resilience, empowering entrepreneurs, and unlocking investment opportunities to propel Africa’s sustainable development.
The tour will span key nations including Kenya, Republic of Congo (Brazzaville), Uganda, Zambia, Mozambique, Rwanda, and the Democratic Republic of Congo (DRC). Elumelu’s itinerary will feature high-level engagements with Presdients of these countrires, policymakers, business leaders, and youth innovators to discuss collaborative strategies for infrastructure financing, digital inclusion, and youth-led entrepreneurship. These discussions aim to harness Africa’s demographic dividend, where over 60% of the population is under 35 and position the continent as a global engine of innovation and prosperity.
“Africa’s story is one of immense potential, and it is time we take ownership of it,” said Tony Elumelu. “Through this tour, UBA is not just visiting these vibrant nations; we are igniting partnerships that will drive real impact, we must build resilient foundations together. This means empowering our entrepreneurs, bridging infrastructure gaps, and creating shared prosperity for generations to come.”
The tour builds on UBA’s legacy as Africa’s Global Bank. Recent milestones include the launch of UBA’s White Paper, Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth, which calls for increased foreign direct investment in green assets and human capital development.
This strategic outreach comes at a pivotal moment, as Africa’s GDP is projected to reach $2.6 trillion by 2030, driven by sectors like telecommunications, education technology, and consumer goods. By strengthening ties with global partners, UBA aims to facilitate $50 billion in trade and investment flows over the next five years.
United Bank for Africa Plc (UBA) is one of Africa’s leading financial institutions, offering superior value to customers across 20 African countries and global markets in the USA, UK, France, and UAE. As Africa’s Global Bank, UBA connects businesses and investors to transformative opportunities on the continent, driving innovation in digital banking, sustainable finance, and inclusive growth. With a commitment to Africapitalism, UBA empowers Africa’s future through strategic partnerships and entrepreneurial support.
The multi-country visit underscores UBA’s unwavering commitment to fostering economic resilience, empowering entrepreneurs, and unlocking investment opportunities to propel Africa’s sustainable development.
The tour will span key nations including Kenya, Republic of Congo (Brazzaville), Uganda, Zambia, Mozambique, Rwanda, and the Democratic Republic of Congo (DRC). Elumelu’s itinerary will feature high-level engagements with Presdients of these countrires, policymakers, business leaders, and youth innovators to discuss collaborative strategies for infrastructure financing, digital inclusion, and youth-led entrepreneurship. These discussions aim to harness Africa’s demographic dividend, where over 60% of the population is under 35 and position the continent as a global engine of innovation and prosperity.
“Africa’s story is one of immense potential, and it is time we take ownership of it,” said Tony Elumelu. “Through this tour, UBA is not just visiting these vibrant nations; we are igniting partnerships that will drive real impact, we must build resilient foundations together. This means empowering our entrepreneurs, bridging infrastructure gaps, and creating shared prosperity for generations to come.”
The tour builds on UBA’s legacy as Africa’s Global Bank. Recent milestones include the launch of UBA’s White Paper, Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth, which calls for increased foreign direct investment in green assets and human capital development.
This strategic outreach comes at a pivotal moment, as Africa’s GDP is projected to reach $2.6 trillion by 2030, driven by sectors like telecommunications, education technology, and consumer goods. By strengthening ties with global partners, UBA aims to facilitate $50 billion in trade and investment flows over the next five years.
United Bank for Africa Plc (UBA) is one of Africa’s leading financial institutions, offering superior value to customers across 20 African countries and global markets in the USA, UK, France, and UAE. As Africa’s Global Bank, UBA connects businesses and investors to transformative opportunities on the continent, driving innovation in digital banking, sustainable finance, and inclusive growth. With a commitment to Africapitalism, UBA empowers Africa’s future through strategic partnerships and entrepreneurial support.
Access Holdings PLC on Friday announced its nine-month results ending September 30, 2025, recording gross earnings of ₦3.9trillion, which represented a rise by 14.1% year-on-year over ₦3.4trillion as at Q3 2024.
A statement by its Company Secretary, Sunday Ekwochi, said the performance was driven by sustained growth in both interest and fees and commission, reflecting the strength of the Group’s diversified earnings base, and improved performance from core operations across its banking and non-banking businesses.
Maintaining the same momentum, gross earnings rose by 56.2% quarter-on-quarter from ₦2.5trillion as at Half Year (H1) 2025.
Interest income rose by 21.1% year-on-year to ₦2.9 trillion in Q3 2025, compared to ₦2.4 trillion in Q3 2024. Net interest income also increased by 48.9% to ₦1.3 trillion from ₦845 billion in the same period.
The performance was driven by loan book expansion, reflecting our disciplined risk management approach and a strategic focus towards higher-yielding, quality assets to strengthen portfolio returns.
On a quarter-on-quarter basis, interest income and net interest income grew by 42.1% and 27.8%, respectively, from ₦2.0 trillion and ₦984 billion in H1 2025.
There was 44.3% growth in net fee and commission to N476billion in Q3 2025 from N330billion in Q3 2024, reflecting higher transaction volumes and increased customer activity across digital and payment channels across both periods.
On a quarter-on-quarter basis, net fee and commission income also increased by 100.8% from N237billion in H1 2025.
While total non-interest income declined marginally by 8.1% to ₦872 billion in Q3 2025 from ₦984trillion in Q3 2024, the Group’s growth momentum from core operations continues to support overall earnings trajectory.
Operating income rose 18.8% to ₦2.13 trillion in Q3 2025 from ₦1.8trillion in Q3 2024.
Impairment on loans increased by 141.5% to N350billion as of Q3 2025 from ₦145billion in Q3 2024.
Operating expenses increased marginally by 6.7% in Q3 2025 to N1.2trillion from N1.1trillion in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% in Q3 2024, as revenue growth outpaced operating expenses. We expect the cost-to-income ratio to stay moderated from ongoing efficiency initiatives, cost optimisation measures, and stronger revenue across the Group.
Profit before tax (PBT) increased by 10.4% to N616billion in Q3 2025 from N558billion in Q3 2024. Profit after tax moderated to ₦447billion in Q3 2025 from ₦ 458 billion in Q3 2024.
Compared to H1 2025 performance, profitability demonstrated resilience, as profit before tax (PBT) increased by 91.9% from ₦321billion in H1 2025 YTD to ₦616 billion in Q3 2025. Profit after tax (PAT) also showed improvement in the period, with a 107.9% increase to ₦447billion in Q3 2025 from ₦215 billion as at H1 2025 YTD.
The Group’s balance sheet increased with total assets growing by 25.8% to ₦52.0trillion in Q3 2025 from ₦ 41.5 trillion in FY 2024.
The growth in the balance sheet was supported by customer deposits, which grew by 47.0% to ₦33.1trillion in Q3 2025 from ₦ 22.5 trillion in FY 2024.
Loans and advances increased by 19.7% to ₦15.6trillion in Q3 2025 from ₦ 13.0 trillion in Q3 2024. The Group is positioned to unlock revenue synergies, enhance cross-border collaboration, and drive sustainable earnings growth.
The Group’s strong performance was largely driven by its non-Nigerian subsidiaries, which together contributed over 50% of consolidated results.
These subsidiaries continued to deliver strong growth across key metrics, reflecting the benefits of diversification and deepening franchise strength across our African markets.
In comparison, the Nigerian operations experienced underperformance during the period, attributable to changing macroeconomic conditions, inflationary pressures, and continued regulatory adjustments.
The return on average equity (ROAE) stood at 15.4% in Q3 2025, down from 22.2% in Q3 2024, while return on average assets (ROAA) also moderated to 1.3% in Q3 2025 from 1.8% in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% in Q3 2024.
Looking ahead, Access Holdings said it will continue to strengthen its franchise across all its markets and businesses, deepen operational resilience, and create sustainable value for all our stakeholders.
A statement by its Company Secretary, Sunday Ekwochi, said the performance was driven by sustained growth in both interest and fees and commission, reflecting the strength of the Group’s diversified earnings base, and improved performance from core operations across its banking and non-banking businesses.
Maintaining the same momentum, gross earnings rose by 56.2% quarter-on-quarter from ₦2.5trillion as at Half Year (H1) 2025.
Interest income rose by 21.1% year-on-year to ₦2.9 trillion in Q3 2025, compared to ₦2.4 trillion in Q3 2024. Net interest income also increased by 48.9% to ₦1.3 trillion from ₦845 billion in the same period.
The performance was driven by loan book expansion, reflecting our disciplined risk management approach and a strategic focus towards higher-yielding, quality assets to strengthen portfolio returns.
On a quarter-on-quarter basis, interest income and net interest income grew by 42.1% and 27.8%, respectively, from ₦2.0 trillion and ₦984 billion in H1 2025.
There was 44.3% growth in net fee and commission to N476billion in Q3 2025 from N330billion in Q3 2024, reflecting higher transaction volumes and increased customer activity across digital and payment channels across both periods.
On a quarter-on-quarter basis, net fee and commission income also increased by 100.8% from N237billion in H1 2025.
While total non-interest income declined marginally by 8.1% to ₦872 billion in Q3 2025 from ₦984trillion in Q3 2024, the Group’s growth momentum from core operations continues to support overall earnings trajectory.
Operating income rose 18.8% to ₦2.13 trillion in Q3 2025 from ₦1.8trillion in Q3 2024.
Impairment on loans increased by 141.5% to N350billion as of Q3 2025 from ₦145billion in Q3 2024.
Operating expenses increased marginally by 6.7% in Q3 2025 to N1.2trillion from N1.1trillion in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% in Q3 2024, as revenue growth outpaced operating expenses. We expect the cost-to-income ratio to stay moderated from ongoing efficiency initiatives, cost optimisation measures, and stronger revenue across the Group.
Profit before tax (PBT) increased by 10.4% to N616billion in Q3 2025 from N558billion in Q3 2024. Profit after tax moderated to ₦447billion in Q3 2025 from ₦ 458 billion in Q3 2024.
Compared to H1 2025 performance, profitability demonstrated resilience, as profit before tax (PBT) increased by 91.9% from ₦321billion in H1 2025 YTD to ₦616 billion in Q3 2025. Profit after tax (PAT) also showed improvement in the period, with a 107.9% increase to ₦447billion in Q3 2025 from ₦215 billion as at H1 2025 YTD.
The Group’s balance sheet increased with total assets growing by 25.8% to ₦52.0trillion in Q3 2025 from ₦ 41.5 trillion in FY 2024.
The growth in the balance sheet was supported by customer deposits, which grew by 47.0% to ₦33.1trillion in Q3 2025 from ₦ 22.5 trillion in FY 2024.
Loans and advances increased by 19.7% to ₦15.6trillion in Q3 2025 from ₦ 13.0 trillion in Q3 2024. The Group is positioned to unlock revenue synergies, enhance cross-border collaboration, and drive sustainable earnings growth.
The Group’s strong performance was largely driven by its non-Nigerian subsidiaries, which together contributed over 50% of consolidated results.
These subsidiaries continued to deliver strong growth across key metrics, reflecting the benefits of diversification and deepening franchise strength across our African markets.
In comparison, the Nigerian operations experienced underperformance during the period, attributable to changing macroeconomic conditions, inflationary pressures, and continued regulatory adjustments.
The return on average equity (ROAE) stood at 15.4% in Q3 2025, down from 22.2% in Q3 2024, while return on average assets (ROAA) also moderated to 1.3% in Q3 2025 from 1.8% in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% in Q3 2024.
Looking ahead, Access Holdings said it will continue to strengthen its franchise across all its markets and businesses, deepen operational resilience, and create sustainable value for all our stakeholders.
<im
-
Entertainment4 years agoBBNaija: “Shameful For A Married Woman” – Boma, Tega Doing ‘Stuff’ Under Duvet Sparks Outrage (See Video)
-
Entertainment4 years agoSinger, Oxlade In Big Mess After His Sex Tape With A Strange Lady Surfaces Online (Watch Video)
-
Entertainment5 years agoBBNaija: Kiddwaya Sucks Erica’s Boobs, Licks Dorathy’s Neck In Truth Or Dare Game (Video)
-
Entertainment2 years agoI’m Not Ashamed Of My Leaked Nude Photos, Ifunanya Confesses (See Photos)
-
Crime4 months agoNDLEA intercepts Saudi, UK-bound cocaine in lipsticks
-
Entertainment5 years agoI’m Not Sick But Only Lost Some Weight – Kiss Daniel
-
Crime6 months agoNDLEA seizes N3.4bn worth of opioids in Lagos, PH, uncovers drugs in chocolate tins
-
Entertainment5 years agoHow Women Should Act During Sex – Actress, Blessing Okoro Reveals (Vdeo)