8 Banks' AMCON, NDIC Fees Explode to N993B in 2025
Elijah TobsBy Elijah Tobs
Finance
May 7, 2026 • 9:40 AM
4m4 min read
Source: Pexels
The Core Insight
Eight major Nigerian banks, including Zenith Bank, Access Holdings, and GTCO, collectively spent N993.34 billion on AMCON levies and NDIC premiums in 2025, a 38.62% rise from 2024. Access Holdings led AMCON payments at N154.33 billion, while Zenith topped NDIC at N77.39 billion. These costs fund banking stability amid non-performing loans and deposit protection up to N5 million.
As the founder and primary investigative voice at Kodawire, Elijah Tobs brings over 15 years of experience in dissecting complex geopolitical and financial systems. His work is centered on the ethical governance of emerging technologies, the shifting architectures of global finance, and the future of pedagogy in a digital-first world. A staunch advocate for high-fidelity journalism, he established Kodawire to be a sanctuary for deep-dive intelligence. Moving away from the ephemeral nature of modern headlines, Kodawire delivers permanent, verified insights that challenge the status quo and empower the global reader.
Eight Major Nigerian Banks Spend N993.34 Billion on AMCON, NDIC Levies in 2025
Zenith Bank Plc and seven other deposit money banks (DMBs) incurred N993.34 billion in Asset Management Corporation of Nigeria (AMCON) and Nigeria Deposit Insurance Corporation (NDIC) expenses in 2025, amid rising operating costs in the financial sector.
This represents a 38.62 per cent increase from N716.5 billion spent by the eight banks in 2024.
Nigerian banks facing rising levy costs in 2025 (Credit: Pavel Danilyuk via Pexels)
The banks are Zenith Bank Plc, First Holdco Plc, FCMB Group Plc, Guaranty Trust Holding Company Plc (GTCO), United Bank for Africa Plc (UBA), Wema Bank Plc, Stanbic IBTC Holdings Plc, and Access Holdings Plc.
Breakdown of Levies
Analysis of the banks’ audited/unaudited results for the year ended December 31, 2025, shows AMCON levy at N646.88 billion, a 44.11 per cent increase from N448.87 billion in 2024. Deposit Insurance Premium rose 29 per cent from N267.65 billion to N346.46 billion.
Levy breakdown: AMCON up 44%, NDIC up 29% (Credit: Tara Winstead via Pexels)
The banking sector resolution cost, or AMCON levy, is 0.5 per cent of total assets plus total off-balance sheet assets, per the AMCON Act of 2015.
Deposit Insurance Premium is a statutory payment ensuring NDIC guarantees deposits up to N5 million in the event of a bank failure.
Banks with the largest deposits typically pay the highest premiums, though some pay more relative to deposits based on pricing. Access Holdings paid the highest AMCON levy, while Zenith Bank paid the highest Deposit Insurance Premium.
Key Bank Payments
Access Holdings: Total assets N51.56 trillion. AMCON levy N154.33 billion (up 37.5 per cent from N112.23 billion in 2024). NDIC premium N73.7 billion (up 54.7 per cent from N47.67 billion).
Zenith Bank: NDIC premium N77.39 billion (up 39.1 per cent from N55.7 billion). AMCON levy N142.59 billion (up 55 per cent from N92.2 billion).
First Holdco: AMCON levy N113.36 billion (up 51.4 per cent from N74.9 billion). NDIC premium N67.76 billion (up from N47.7 billion).
Top payers: Access Zenith First Holdco lead levies (Credit: Nataliya Vaitkevich via Pexels)
Background on AMCON and NDIC
AMCON was established in 2010 to resolve non-performing loans and stabilise the banking system. It is funded by loan recoveries, Central Bank of Nigeria contributions, sales of pledged assets, and bank levies. Initially 0.3 per cent of assets, the rate rose to 0.5 per cent of total assets (plus 0.3 per cent of contingent liabilities) in 2013.
AMCON's role since 2010 banking reforms (Credit: Adrien Olichon via Pexels)
These levies and premiums protect public funds and ensure banking sector stability in the event of failure or liquidation. For more on financial regulations, see FCCPC's warnings on lending and credit strategies.
Stakeholder Views
Investment banker and stockbroker Tajudeen Olayinka criticised the ongoing levies, stating: “The fact that AMCON continues to place yearly levies on banks in the country in an endless manner, is an indication that AMCON is unable to pay its debts, and that its birth as a failure resolution option was unnecessary or absolutely misplaced at the time it was conceived. Those failed banks could have been better managed with more robust failure resolution options outside AMCON arrangement. And I blame the governor of CBN at that time, Sanusi Lamido Sanusi, for the error.” Related economic insights in Nigeria's research fund push.
