ABUJA, NIGERIA - The Central Bank of Nigeria (CBN) has intensified its scrutiny of the asset quality and financial statements of major Nigerian banks, resulting in delays in the publication of their audited half-year 2026 results.


Among the banks affected are GTCO Holdings, Access Holdings, Zenith Bank, United Bank for Africa (UBA), and Stanbic IBTC Holdings.


The five institutions are among Nigeria’s largest lenders and collectively account for a significant share of the country’s banking sector.


According to reports, the banks have informed regulators and investors that they may not meet the expected deadline for publishing their audited financial results for the six months ended June 30, 2026, as their accounts remain subject to the CBN’s review and approval.


CBN intensifies post-recapitalisation oversight


The increased scrutiny comes after the conclusion of the banking sector’s recapitalisation exercise, with the apex bank now paying closer attention to the quality of banks’ assets, loan portfolios, earnings and overall financial positions.


The regulator is particularly focused on ensuring that banks’ reported profits and capital positions accurately reflect the underlying strength of their balance sheets.


The review also comes amid concerns over rising non-performing loans and higher credit impairment charges following the withdrawal of regulatory forbearance.


Banks seek extensions


GTCO has reportedly sought an extension to September 30, 2026, for the release of its audited half-year results.


Zenith Bank, whose board approved its half-year financial statements in July, has indicated that it expects to publish the results on or before October 9, 2026.


Access Holdings has also obtained an extension, while UBA said publication of its financial statements is subject to receiving final regulatory approval from the CBN.


The delays have heightened attention among investors and shareholders, particularly because some of the affected banks traditionally announce interim dividend payments alongside their half-year results.


Asset quality remains a major concern


The CBN’s latest approach underscores the importance of asset quality in determining the true financial health of Nigerian banks.


The end of regulatory forbearance has compelled banks to recognise some previously deferred credit risks and increase provisions against potentially problematic loans.


The development is therefore being closely watched by investors, analysts and other stakeholders, as the CBN seeks to ensure that the banking sector remains adequately capitalised, transparent and resilient.


The regulator’s intensified review could ultimately provide a clearer picture of the strength of Nigerian banks’ balance sheets and their ability to withstand emerging credit and economic risks.