Nigeria’s listed banks have begun releasing their fourth-quarter earnings, with early filers opting for the Nigerian Exchange’s (NGX) 30-day interim unaudited filing window, while a larger group appears to be positioning for the 60-day audited accounts option permitted under NGX rules.
So far, FCMB Group Plc, First HoldCo Plc, Sterling Financial Holdings Company Plc, Jaiz Bank Plc, and Wema Bank Plc have published their Q4 unaudited financial results within the NGX-mandated 30 calendar days after the end of the 2025 financial year.
The early disclosures signal compliance with NGX’s interim reporting regime, which allows issuers to release unaudited full-year results within 30 days, provided audited accounts follow within the standard timeline.
What the filing data is saying
As at the end of January, FCMB Group Plc, First HoldCo Plc, Sterling Financial Holdings Company Plc, Jaiz Bank Plc, and Wema Bank Plc all released their unaudited Q4 and full-year results within 30 calendar days of the December 31, 2025 year-end.
- FCMB Group – January 29
- Wema Bank – January 29
- First HoldCo – January 30
- Sterling Financial Holdings – January 30
- Jaiz Bank – January 30
These filings place the banks squarely within NGX’s interim reporting timeline and reflect straightforward compliance with the Exchange’s unaudited Q4 disclosure option.
Stanbic IBTC Holdings Plc and Ecobank Transnational Incorporated released their Q4 results just outside of the 30-day filing window.
- Stanbic IBTC filed on February 3
- Ecobank Transnational filed on February 6
However, they make up the 7 banks that have so far filed their unaudited results.
Tier-1 banks position for the 60-day audited option
Several large banks, however, appear to have intentionally chosen the 60-day audited filing route, as indicated by formal notices to the Exchange referencing board meetings and regulatory approvals.
- Guaranty Trust Holding Company Plc had earlier announced, on December 8, that its board would meet on January 27 to consider audited accounts, with filing contingent on regulatory approval.
- Zenith Bank Plc stated that it would file its full-year audited accounts after obtaining approval from the Central Bank of Nigeria (CBN).
- Access Holdings Plc disclosed that its board is scheduled to meet on February 20 to consider the audited accounts.
- United Bank for Africa Plc indicated in a January 2 filing that its board would meet on February 19, with the audited results to follow subject to CBN approval.
Fidelity Bank Plc also announced a February 19 board meeting to review audited financial statements.
The structure and timing of these notices strongly suggest a deliberate election of the audited-only route, rather than interim disclosure.
What you should know
Under the NGX Rules for Filing of Accounts and Treatment of Default Filings, issuers are permitted two mutually exclusive options for fourth-quarter reporting:
- 30-day option (interim route): Listed companies may file unaudited Q4 and full-year results within 30 calendar days after year-end, provided that audited financial statements are subsequently filed within the prescribed period.
- 60-day option (audited-only route): Alternatively, issuers may skip unaudited Q4 filings entirely and submit audited full-year financial statements within 60 calendar days of year-end, subject to board approval and relevant regulatory clearances.
Crucially, companies that choose the 60-day option must not file unaudited Q4 results at all.
Once an unaudited Q4 filing is made, the issuer is deemed to have elected the 30-day route and is expected to comply fully with its timing requirements.
As a result, Q4 filings made after the 30-day deadline but before audited accounts are ready may expose issuers to default filing classification, depending on NGX’s regulatory assessment.
