As 2027 approaches, which Nigerian banking stocks offer the strongest combination of dividend income and long-term growth potential? In this guide, we examine six banking stocks on the Nigerian Exchange (NGX), including GTCO, Zenith Bank, Stanbic IBTC, UBA, Access Holdings, and FCMB Group. You will compare their latest reported dividends, growth opportunities, and key risks to help you make more informed investment decisions.
If you are still learning how to evaluate shares, our guide on investing in Nigerian stocks explains the basics. You can also explore our analysis of the best Nigerian blue-chip stocks for a broader view of established companies listed on the NGX.
1. GTCO (Guaranty Trust Holding Company)
GTCO (Guaranty Trust Holding Company) is one of the strongest dividend stocks on the NGX, especially for investors seeking both income and long-term growth. For FY2025, GTCO declared a total dividend of ₦12.76 per share, made up of a ₦1.00 interim dividend and ₦11.76 final dividend.
At about ₦132 per share in early October 2026, the annual dividend represented a yield of roughly 9.7%, although the actual yield changes as the share price moves. GTCO also has strong profitability, a well-known digital banking franchise, good corporate governance and businesses beyond traditional banking.
Its strong capital position and growing loan book could support dividends and share-price gains through 2027. However, watch interest rates, profit margins and future CBN capital requirements.
2. Zenith Bank
Zenith Bank is one of Nigeria’s tier-one banks and has a long record of rewarding shareholders with dividends. For FY2025, it declared a total dividend of ₦10.00 per share, made up of a ₦1.25 interim dividend and ₦8.75 final dividend, doubling the ₦5.00 paid for FY2024.
The bank reported record profit after tax of ₦1.041 trillion in 2025, supported by strong interest income. Its capital base, careful risk management and consistent profitability strengthen its long-term case, while its valuation can appeal to investors seeking value and income.
If earnings remain strong, continued dividends could support total returns through 2027. However, you should watch asset quality, interest-rate changes and their effect on profit margins.
3. Stanbic IBTC Holdings
Stanbic IBTC Holdings is more than a bank. Through its subsidiaries, the group operates in banking, pensions, asset management, stockbroking, insurance and other financial services.
For FY2025, it paid a total dividend of ₦6.50 per share, made up of ₦2.50 interim and ₦4.00 final dividend. Its strong 2025 results, including a 42.4% return on equity, show solid earnings quality.
Stanbic IBTC is also backed by Standard Bank Group, giving it access to a large African financial network. This diversification can make earnings more stable, making Stanbic IBTC an attractive option for investors seeking income, stability and long-term growth through 2027.
4. UBA (United Bank for Africa)
UBA is better viewed as a dividend-recovery and growth stock than an immediate income stock. For FY2025, UBA paid only its ₦0.25 interim dividend and did not declare a final dividend, as it strengthened its balance sheet and met CBN capital requirements.
Its major strength is its Pan-African presence, with operations across 20 African subsidiaries and international markets. UBA also trades at relatively low valuation multiples, while analysts remain positive on its share-price potential.
If its capital position remains strong and regulatory conditions improve, dividend payments could recover by 2027. However, you should watch CBN rules, loan quality and economic conditions across its African markets.
5. Access Holdings
Access Holdings is currently more of a long-term growth and recovery stock than a dividend-income stock. It did not pay a FY2025 dividend because it was still meeting regulatory requirements, although management said the decision was not caused by weak earnings and that dividends could resume after the required approvals.
The group has significant scale, with total assets of ₦51.56 trillion and profit before tax of ₦1.01 trillion in 2025. Its large franchise, international operations and improving earnings give patient investors potential for capital gains if regulatory issues are resolved.
The key catalysts are stronger capital, regulatory clearance, earnings growth and dividend resumption. However, you should watch CBN rules, asset quality and how well management executes its expansion plans.
6. FCMB Group
FCMB Group is a smaller-cap alternative to Nigeria’s biggest banks, with businesses spanning banking, pensions, asset management, stockbroking and other financial services. For FY2025, the group recommended a ₦0.35 per-share dividend, while profit after tax rose 142% to ₦177.3 billion.
Its strong earnings growth gives FCMB room to improve shareholder returns, even though its dividend is smaller than those of GTCO and Zenith Bank. The group’s diversified businesses can also provide several sources of income as the economy grows.
For 2027, FCMB could appeal to you if you want a higher-growth, value-focused banking stock. However, as a mid-cap stock, it can carry more price volatility and risk than larger banking names.
Before buying any of these stocks, study the company’s earnings, debt, cash flows and ability to sustain its dividend. Our guide on reading company financial statements explains what to examine before making an investment decision. You can also learn how the P/E ratio helps assess stock valuation when comparing banks trading at different prices relative to their earnings.
Frequently Asked Questions
What is the best stock to invest in 2027?
There is no single stock that can be guaranteed to be the best in 2027. Among the NGX banking stocks discussed in this article, GTCO and Zenith Bank stand out for their strong dividend records, profitability and long-term potential, while UBA, Access Holdings and FCMB offer different growth opportunities.
Which bank pays the highest dividend in Nigeria?
Among the banks covered in this article, GTCO currently has the highest FY2025 dividend at ₦12.76 per share. Zenith Bank followed with ₦10.00 per share, while Stanbic IBTC paid ₦6.50 per share for FY2025. For a wider comparison, see our guide to the best dividend stocks on the NGX.
Which Nigerian stocks are expected to pay the most dividends in 2027?
GTCO, Zenith Bank and Stanbic IBTC are among the stronger candidates for dividend income in 2027 because of their recent profitability and established payout records. However, 2027 dividends have not been declared yet, so actual payments will depend on each company’s 2026 results, capital position and regulatory requirements.
What are 7 good long-term stocks to buy?
There is no guaranteed list of seven stocks that will perform best. For a Nigerian investor researching long-term opportunities, a diversified list could include GTCO, Zenith Bank, Stanbic IBTC, UBA, Access Holdings, FCMB Group and Wema Bank, but each has a different level of risk, dividend potential and growth outlook.
Which stock will skyrocket soon?
No one can reliably predict which stock will “skyrocket” soon. A better approach is to look for companies with strong earnings growth, healthy balance sheets, reasonable valuations and clear business catalysts rather than buying a stock simply because you expect a sharp price increase.
Which Nigerian stock is the best to buy now?
There is no universally best Nigerian stock because the right choice depends on whether you prioritise dividends, growth, value or lower risk. Based on the stocks discussed in this article, GTCO and Zenith Bank are strong choices to research for a combination of dividend income and long-term growth, while FCMB, UBA and Access Holdings may appeal more to investors seeking higher growth or recovery potential.
What are the top 3 dividend-paying stocks?
Among the six banking stocks covered in this article, GTCO, Zenith Bank and Stanbic IBTC are the three strongest dividend candidates based on their FY2025 payouts. Their reported FY2025 dividends were ₦12.76, ₦10.00 and ₦6.50 per share respectively.
How much is Zenith Bank’s dividend per share?
Zenith Bank’s FY2025 total dividend was ₦10.00 per share. This consisted of a ₦1.25 interim dividend and a proposed ₦8.75 final dividend.
How much is FCMB Bank’s dividend per share?
FCMB Group recommended a 35 kobo (₦0.35) dividend per share for FY2025, subject to shareholder approval. The proposed payment totals about ₦23.08 billion.
How much is UBA Bank’s dividend per share?
For FY2025, UBA paid a ₦0.25 per-share interim dividend. This is different from its FY2024 total dividend of ₦5.00 per share, which consisted of a ₦2.00 interim dividend and ₦3.00 final dividend.
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