Nigeria’s largest banks put aside a mixed N1.96 trillion within the first 9 months of 2025 as impairment costs to cowl potential mortgage losses.
This represents a pointy improve from about N1.32 trillion (up 49%) in the identical interval of 2024.
Crucially, this surge in provisioning comes because the Central Bank of Nigeria (CBN) begins unwinding its pandemic-era forbearance measures, regulatory aid that beforehand allowed banks to restructure exposures and delay the classification of non-performing loans.
The apex bank has since flagged banks nonetheless below forbearance for “shut supervisory engagement.”
Beneath the revised framework, banks that proceed to profit from forbearance are restricted from paying dividends, issuing govt bonuses, or increasing offshore operations, whereas those who have met the minimal necessities are transitioning out.
Forward of the total unwind in March 2026, the CBN disclosed that not less than eight banks have already met the requisite forbearance-related requirements, signaling an enhancing regulatory stance.
Towards this backdrop, BusinessTimes reviewed the monetary statements of Nigeria’s high listed banks to find out these with the biggest impairment costs to this point in 2025.
Beneath is the rating of the eight banks with the most important loan-loss provisions as of Q3 2025.
Wema Bank’s impairment stood at N11.0 billion, barely beneath the N11.68 billion reported final 12 months (–6%). Mortgage development was sturdy (+30% YoY), but danger property remained below management.
Most of Wema Bank’s impairment occurred within the third quarter of 2025, estimated at about N10 billion.
The bank additionally recorded recoveries of N4.29 billion within the first 9 months of 2025, which helped scale back its internet provisioning to N11 billion, one of many lowest within the trade.