Major Nigerian banks are facing delays in releasing their half-year 2026 financial results as the Central Bank of Nigeria (CBN) intensifies its review of lenders’ assets, earnings quality and regulatory compliance.
Five systemically important banks — Guaranty Trust Holdings Company (GTCO) Plc, Access Holdings Plc, Zenith Bank International Plc, United Bank for Africa (UBA) Plc and Stanbic IBTC Holdings Plc — are among those affected by the enhanced scrutiny.
The banks, which collectively control more than two-thirds of the banking industry, disclosed in separate statements that they would not meet the August 29 deadline for filing their audited results for the half-year ended June 30, 2026.
The lenders attributed the delay to ongoing examination and approval of their financial statements by the CBN.
Under Nigeria’s banking regulatory framework, banks are required to obtain the apex bank’s final approval before publicly releasing their audited financial statements.
GTCO, which completed its half-year financial statements on July 28, has sought an extension until September 30, 2026, to publish the results.
Zenith Bank, whose board approved its half-year accounts on July 29, said it now expects to release the results on or before October 9, 2026.
Access Holdings has also secured an extension to September 30, while UBA said the publication of its financial statements remains subject to receiving the CBN’s approval.
The delays come amid what industry sources described as a more rigorous regulatory examination of banks’ financial positions following the conclusion of the banking sector recapitalisation exercise.
An industry source said the CBN’s enhanced scrutiny may be linked to its post-recapitalisation compliance programme, particularly its assessment of the quality and sustainability of banks’ assets and earnings.
According to the source, the apex bank is taking proactive measures to ensure that reported earnings are sustainable and supported by the underlying quality of banks’ assets.
The increased scrutiny is considered particularly significant for the five institutions because they are classified as systemically important banks and traditionally declare interim dividends based on their half-year performance.
The source said the potential impact of dividend payouts on banks’ capital positions could also be among the factors behind the additional regulatory review.
First H1 Results After Recapitalisation
The ongoing review also marks a significant regulatory test for the banks as they prepare to release their first audited half-year results following the conclusion of the industry-wide recapitalisation exercise.
The recapitalisation programme required banks to strengthen their capital bases and improve their capacity to absorb financial risks while supporting economic growth.
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The CBN’s closer examination is therefore expected to focus not only on headline profitability but also on the quality of earnings, asset valuation, capital adequacy and the sustainability of returns.
The Nigerian Exchange (NGX) rules require the affected listed banks to submit their audited financial statements for the half-year ended June 30 within 60 days of the reporting period.
The deadline expires on August 29, 2026.
With the CBN approvals still pending, the affected banks have approached the NGX for waivers and extensions, citing the requirement to secure the apex bank’s regulatory clearance before publishing their results.
The development could delay investors’ assessment of the banks’ first-half performance and their potential interim dividend declarations, particularly as the lenders remain under increased regulatory scrutiny following the recapitalisation exercise.
