Ten commercial banks listed on the Nigerian Exchange (NGX) paid a combined N732.98 billion in AMCON levies during the 2025 financial year, according to an analysis by Legit.ng. This represents a 47.07% increase from the N498.39 billion paid by the same banks in 2024.
The banks analysed include Access Holdings Plc, United Bank for Africa (UBA) Plc, Zenith Bank Plc, FBN Holdings Plc, Guaranty Trust Holding Company Plc (GTCO), Fidelity Bank Plc, Stanbic IBTC Plc, FCMB Plc, Wema Bank Plc, and Sterling Financial Holdings Plc.
AMCON Levy as Share of Operating Expenses
The AMCON levy accounted for approximately 17.10% of the banks' combined operating expenses of N4.29 trillion during the period. This highlights the growing burden of the levy on the banking sector's cost structure.
Access Holdings recorded the highest AMCON levy payment among the banks analysed, contributing N154.33 billion in 2025. This represents a 37.51% increase from the N112.20 billion paid by the financial group in 2024.
Breakdown of Top Contributors
Zenith Bank followed with an AMCON contribution of N142.59 billion, representing a 54.66% increase from the N92.21 billion paid in 2024. The Tier-1 lender remained one of the largest contributors to the corporation's annual levy during the period.
FBN Holdings ranked third with an AMCON levy payment of N130.53 billion. The amount represents a 74.35% increase from the N74.87 billion contributed in 2024, making it one of the largest year-on-year increases among the banks.
Other Major Contributors
UBA paid N94.33 billion in AMCON levies in 2025, up 31.18% from the N71.91 billion recorded in the previous year. Fidelity Bank contributed N50.99 billion, a 43.75% increase from N35.47 billion in 2024.
GTCO paid N50.85 billion, a 38.73% increase from N36.66 billion in 2024. Stanbic IBTC contributed N36.39 billion, up 38.40% from N26.29 billion in the previous year.
Smaller Banks Also See Significant Increases
FCMB paid N35.17 billion in AMCON levies, representing a 60.39% increase from the N21.93 billion recorded in 2024. Wema Bank contributed N19.86 billion, up 55.31% from N12.79 billion paid in the previous year.
Sterling Financial Holdings recorded the lowest AMCON levy payment among the 10 institutions at N17.94 billion, yet this was still 27.66% higher than the N14.05 billion paid in 2024.
Why AMCON Payments Are Rising
AMCON was established in 2010 following Nigeria's banking crisis to acquire non-performing loans from troubled banks, restore confidence in the financial system, and prevent a wider banking crisis. The corporation is largely funded through annual contributions from banks, currently pegged at 0.5% of total assets and off-balance-sheet exposures under the AMCON Amendment Act.
However, the sharp increase in levy payments has renewed calls from shareholders, analysts, and other industry stakeholders for a review of AMCON's funding structure and a clear exit strategy.
Industry observers said the rise in contributions reflects the expansion of banks' balance sheets amid naira depreciation, inflationary pressures, and the Central Bank of Nigeria's recapitalisation requirements. Critics argue that the growing levy has become a significant financial burden for banks, particularly institutions that were not responsible for the accumulation of the non-performing loans that led to AMCON's creation.
Banks Meet CBN's Capital Requirement
Earlier, Legit.ng reported that 30 commercial banks in Nigeria had satisfied the new minimum capital thresholds set by the Central Bank of Nigeria (CBN) under its ongoing banking sector recapitalisation programme. The apex bank, through its Acting Director of Corporate Communications, Hakama Sidi Ali, disclosed in a statement issued on Friday that several lenders have continued to increase their capital base since the recapitalisation policy was announced in 2024.
According to the CBN, 33 banks have raised additional funds through various channels, including rights issues, initial public offerings (IPOs), and private placements.
