Nigerian banks have further strengthened their positions among Africa’s financial heavyweights, cementing dominance in the Top 300 Banks in the World ranking, even as regulators across the continent push for higher capital thresholds to safeguard stability amid rising economic headwinds.

The latest ranking, compiled by The Banker magazine, showed that Nigerian financial institutions, including Zenith Bank, Access Holdings, Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), and First Bank Holdings, continue to lead their African peers in capital strength, profitability, and asset growth.

Experts attributed the resilience of Nigerian banks to ongoing reforms by the Central Bank of Nigeria (CBN), strong regional diversification, and a growing digital banking ecosystem that has boosted non-interest income. “Nigerian banks have shown remarkable adaptability in a volatile macroeconomic environment,” said financial analyst Bismarck Rewane. “They have leveraged technology, scale, and cross-border expansion to maintain profitability despite currency pressures and inflation.”

Across Africa, regulators in Nigeria, Kenya, and other jurisdictions are demanding tougher capital buffers in response to currency depreciation, loan concentration risks, and global monetary tightening. The CBN’s recent directive for banks to raise fresh capital — aimed at fortifying balance sheets and supporting credit expansion — is expected to spur a new wave of mergers and recapitalisation.

Industry observers said the sustained global recognition of Nigerian banks reflects their growing role in continental finance and their ability to withstand systemic shocks. “This ranking confirms that Nigerian banks remain the anchor of Africa’s financial system,” noted Uche Uwaleke, professor of capital market studies.

With the CBN’s recapitalisation drive underway, analysts predict that Nigerian banks are well-positioned to consolidate further gains and expand their continental footprint in the coming years. (Nigerian Tribune)