Zenith Bank and First HoldCo Executives See Pay Surge

In 2025, executive remuneration at major Nigerian banks, specifically Zenith Bank, First HoldCo, and Access Holdings, increased significantly, outpacing earnings growth. Zenith Bank's highest-paid director saw remuneration rise by 110.9% to ₦367 million from ₦174 million in 2024, despite a mere 0.7% increase in profit after tax, which edged up to ₦1.04 trillion from ₦1.03 trillion.

Zenith's gross earnings increased by 5.6% to ₦4.19 trillion, but profit before tax declined by 4.8% to ₦1.26 trillion. Total directors’ remuneration at Zenith rose to approximately ₦6.50 billion from ₦4.19 billion.

First HoldCo's highest-paid director's pay doubled to ₦195 million, while profit before tax plummeted by 70.5% to ₦235 billion, driven by higher impairment charges and operating expenses. The group's gross earnings rose by 6.9% to ₦3.44 trillion, but profit for the year fell 79.4% to ₦139.5 billion.