Nigeria · Consumer markets
Why Nigeria’s deposit coverage differs by depositor count and value
At the end of 2025, about 99% of depositors in the Central Bank’s grouped bank and mobile-money data were in the fully insured balance bracket. Their balances represented 11.71% of the value reported for that group.
Sources checked
Depositor count
Shared scale · 0% to 99.99%
Balance value
Shared scale · 0% to 99.99%
The two shares describe the same balance bracket but use different denominators.
The large-balance bracket accounts for most value
At the end of 2025 the grouped bank and mobile-money table showed 267.3 million depositor records in the at-or-below-₦5-million bracket. Those balances totalled about ₦13.02 trillion. Much of the group’s total balance value was concentrated in the smaller number of records above that threshold. Source 1
Payment service banks showed a similar pattern
The at-or-below-₦2-million bracket accounted for 99.99% of the payment service bank count at the end of 2025 and 22.21% of the balance value. This comparison uses that group’s own threshold and its own total for both denominators. Source 1
A bracket share is distinct from total insured exposure
The figure counts the full balances held within the fully insured bracket. A balance above the threshold can also receive some coverage, depending on the eligibility rules. Insider and collateralised deposit categories are recorded separately in the underlying tables. Source 1 Source 2
Depositor records are grouped for statistical reporting
The report uses Bank Verification Numbers in each published reporting group. The group totals describe coverage within the regulated institutions included in those tables. Summing the groups would not establish how many distinct people held deposits across both. Source 1