Seven Nigerian banks listed on the Nigerian Exchange (NGX) missed the January 30, 2026, deadline to file their fourth-quarter and full-year financial reports, NGX officials confirmed. The banks opted to submit audited accounts within 60 days instead of unaudited interim results, a choice allowed under NGX regulations that requires additional board and regulatory approvals.
Among the seven banks that missed the January 30 deadline, several opted to use the 60-day filing option permitted under Nigerian Exchange (NGX) regulations, which allows listed companies to submit only audited full-year financial statements by February 28, 2026, instead of unaudited interim results within 30 days of year-end. NGX officials confirmed that this approach requires additional board approval and regulatory clearances, including from the Central Bank of Nigeria (CBN), which some large banks are still in the process of securing.
Records show that five banks—FCMB Group Plc, Wema Bank Plc, First HoldCo Plc, Sterling Financial Holdings Company Plc, and Jaiz Bank Plc—complied with the 30-day unaudited filing deadline, submitting their fourth-quarter and full-year interim results between January 29 and January 30, 2026.
FCMB and Wema Bank filed on January 29, while First HoldCo, Sterling Financial Holdings, and Jaiz Bank submitted on January 30, according to NGX corporate disclosures and filings reviewed by this publication.
In contrast, major lenders such as Guaranty Trust Holding Company Plc and Zenith Bank Plc informed NGX of their intention to pursue the 60-day audited-only filing route. Guaranty Trust announced on December 8, 2025, that its board would meet on January 27, 2026, to review audited accounts pending regulatory approvals. Zenith Bank also indicated it would await CBN clearance before filing its full-year audited financials. NGX sources confirmed that several other large banks have similarly communicated their preference for the audited-only submission, reflecting a strategic choice to prioritize regulatory compliance and board sign-off over early unaudited disclosures.
NGX regulations stipulate that the 30-day and 60-day filing options are mutually exclusive, requiring issuers to select one path for their year-end reporting. The 30-day option mandates submission of unaudited Q4 and full-year results within 30 calendar days after December 31, followed by audited statements later. The 60-day option allows skipping the unaudited filing and submitting only the audited accounts within 60 days. Both options require adherence to board approval processes and regulatory clearances, with non-compliance potentially resulting in default filing status and penalties, NGX officials said.
While no specific default notices or penalties for Q4 2025 filings by banks have been reported as of early 2026, historical data indicates that NGX has previously imposed fines for late or inaccurate filings. For instance, African Alliance Insurance Plc was fined N48.6 million in November 2023 for submitting its 2022 audited statements nearly a year late. NGX has also levied a total of N540 million in penalties on 34 listed companies for reporting breaches, underscoring the exchange’s enforcement of filing deadlines.
The divergence in filing strategies highlights varying approaches among Nigerian banks toward transparency and regulatory compliance. Smaller and mid-tier banks such as FCMB and Wema Bank have adhered to the 30-day unaudited filing timeline, while larger banks are leveraging the 60-day audited filing window to accommodate internal review and regulatory approval processes. This split aligns with disclosures made in late 2025 and early 2026, where some institutions formally notified NGX of their intended filing route.
In related sector developments, data shows that 33 of 37 Nigerian banks met a recent recapitalization deadline by raising over N4.65 trillion, strengthening the capital base of the banking industry. This financial strengthening occurs alongside ongoing efforts to comply with NGX’s filing requirements and maintain investor confidence.
As of April 17, 2026, Stanbic IBTC Holdings Plc had filed its audited financial statements for the year ended December 31, 2025, according to NGX corporate disclosures, indicating that some banks have completed the audited submission phase. NGX continues to monitor filings and compliance status, with the 60-day deadline for audited accounts approaching at the end of February 2026 for those banks that elected that reporting option.
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