The ultimate paradox is unravelling in Nigeria as banks declare record profits at a time when several businesses are reporting rare and substantial losses.
Zenith Bank and GTCO Holdings, for instance, have both reported profits exceeding N1 trillion, with Zenith at N1.03 trillion and GTCO at N1.02 trillion for the fiscal year 2024. The combined profit-after-tax of five of Nigeria's largest banks stood at an impressive N3.55 trillion last year.
This stark contrast in financial performance has sparked public debate, with many questioning wh
