Banks spend N76.5bn on marketing in three months

In the first quarter of 2026, Nigeria's deposit money banks increased their spending on marketing, advertising, and corporate gifts by 5.35 percent, reaching a total of N76.54bn. This rise from N72.65bn in the same period of 2025 represents an additional N3.89bn year-on-year. Among the banks analyzed, United Bank for Africa (UBA) led with a 177.69 percent increase, spending N15.68bn compared to N5.65bn the previous year.

Other notable increases were seen in Jaiz Bank (1,623.60 percent), Fidelity Bank (3.86 percent), and Zenith Bank (28.72 percent). Conversely, FCMB Group, First HoldCo, and Access Holdings experienced reductions in their marketing expenditure. The CBN had recently tightened its regulatory requirements for advertising and promotional activities, emphasizing the need for factual, balanced, and transparent communications.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.