This post was originally published on this site.
Nigeria’s 10 listed banks combined spent N177.91 billion on technology in Q1 2026, a 30.8% jump from the same period in 2025Zenith Bank topped the list after nearly doubling its IT budget to N43.83 billion, even as it faced allegations of a customer data breachUBA recorded the fastest growth in tech spending among all banks, with its budget surging 258.2% to N22.10 billion
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Ten Nigerian banks spent a combined N177.91 billion on information technology (IT), software and digital infrastructure in the first quarter of 2026, underscoring the banking industry’s growing investment in digital banking, cybersecurity and technology-driven services.
Data compiled by Legit.ng from the lenders’ first-quarter financial statements showed that technology spending rose to N177.91 billion from N136.04 billion in the corresponding period of 2025, representing an increase
