In a market dominated by Ecobank subsidiaries in WAEMU, Nigeria remains a weak link in an ECOWAS market. Although it concentrates 21% of its production tool and generates 17% of its operating expenses, the Nigerian subsidiary of the Ecobank Transnational Incorporated group has contributed little to its profitability.

Ecobank Transnational Incorporated (ETI) has found in the markets of the Economic Community of West African States (ECOWAS) a growth driver that keeps promises. But the Nigerian subsidiary continues to be a weak link for the pan-African banking holding company in the area, and in all of its activities. Ecobank Nigeria's pre-tax profit stood at $10 million for the first six months of the year ending June 30, 2021. It was down 58% compared to the same period in 2020. This underperformance is the fact of the decline in income on bank loans. Interest income was $46 million over the period analyzed, down 48% compared to 2020. Despite a 20% increase (to $61 million) in non-interest income, its net banking income (GNP), the equivalent of gross operating income is down 22% at the end of the first half of 2021. While Nigeria remains a concern since the bad debt challenge in 2017, ETI cannot pursue a strategy that places the Nigeria on the sidelines. The country is the first in Africa in terms of gross domestic product and its 106 million adults (people aged 18 and over, according to Nigerian standards), 37% of whom still do not have a bank account.