*Records ₦2.106bn half-year surplus, spends ₦1.042bn on conferences
*₦150.215m on election, ₦344.117m on stamps and licences
Nigerian Bar Association (NBA) has reported total bank balances of ₦6.522 billion as at June 30, 2026, with about ₦4.154 billion held in fixed deposits, according to its 2025–2026 Treasurer’s Report and interim financial statements presented to members.
The financial report, presented by the NBA National Treasurer, Blessing Imo Udofa-Poromon, covers the half-year ended June 30, 2026 and contains the Association’s statement of financial position, income and expenditure, changes in members’ funds, cash flows and accompanying notes.
According to the Treasurer, the NBA’s total bank balances stood at ₦6,522,005,000 at the end of the six-month period. Of that amount, ₦4,154,264,000 was held in fixed deposit accounts, leaving approximately ₦2,367,741,000 outside fixed deposits. The report, however, cautioned that a substantial portion of the remainder represented special funds earmarked for specific projects and held in restricted accounts, meaning the entire balance should not be regarded as freely available for general expenditure.
The ₦6.522 billion balance represents a significant increase from the ₦4.454 billion cash and cash equivalents reported as at December 31, 2025, an increase of approximately ₦2.068 billion over the first six months of 2026. The statement of financial position puts cash and cash equivalents at ₦6.522 billion, compared with ₦4.454 billion at the end of the previous year.
The Treasurer’s account-by-account schedule showed ₦1.1 billion in an Access Bank fixed deposit account, ₦1.4 billion in a Coronation Merchant Bank fixed deposit, and ₦1.654 billion in a Sterling Bank fixed deposit.
Other significant balances included ₦1.170 billion in the Access Bank Annual General Conference account, ₦271.472 million in Sterling Bank Account 2, ₦232.139 million in NBA1, ₦170.784 million in the administrative account, ₦169.572 million in the Bar Practising Fee account and ₦161.564 million in the stabilisation account.
The report further listed ₦66.917 million in the salary account, ₦57.364 million with Coronation Merchant Bank, ₦16.019 million in the ICLE account, ₦12.204 million in the NHIS account, ₦11.176 million in the stamp and seal account, ₦5.628 million in the Medical Fund account, ₦4.826 million in the prepaid debit card account, and ₦3.570 million in the project account.
Other balances included ₦3.080 million in an Access Bank dollar account, ₦2.220 million in the pounds account, ₦2.060 million in the e-stamp and seal income account, ₦1.995 million in the NEC account, ₦1.515 million in the Human Rights Institute account, ₦1.031 million in the AGC expenditure account, ₦976,000 in the Stanbic IBTC savings account, ₦622,000 in another AGC account, ₦394,000 in the Flood Disaster Relief account, and ₦200,000 in the North East account, alongside smaller balances in the SAFE Project and MacArthur accounts.
The financial statements also showed that the NBA generated ₦4.584 billion in total income during the first half of 2026, against expenditure of ₦2.478 billion, leaving a reported surplus of ₦2.105942 billion.
The income comprised ₦3.868 billion in unrestricted income, ₦337.388 million in restricted income and ₦379.157 million in interest income, bringing total income to ₦4.584 billion.
On the expenditure side, the Association recorded ₦1.214762 billion on programme services, ₦1.116974 billion on general and administrative expenses, ₦133.314 million in personnel costs, ₦5.139 million in depreciation and ₦8.2 million in amortisation, resulting in total expenditure of ₦2.478 billion.
The Treasurer attributed the ₦2.106 billion surplus to what the report described as a “fundamental rethinking and radical redesign” of processes undertaken by the current administration to improve the Association’s financial performance.
Beyond the amount sitting in bank accounts, the NBA reported total assets of ₦9.930 billion as at June 30, up from ₦7.852 billion at December 31, 2025.
The assets consisted of ₦3.306 billion in non-current assets and ₦6.624 billion in current assets. Non-current assets included ₦3.183 billion in property, plant and equipment and ₦123.003 million in intangible assets, while current assets included the ₦6.522 billion cash balance, ₦99.273 million in receivables and ₦2.495 million in inventories.
Against those assets, the Association reported total liabilities of ₦945.890 million, comprising ₦767.863 million in current liabilities and ₦178.028 million in non-current liabilities or deferred income.
This left the NBA with net assets or members’ funds of ₦8.984206 billion, compared with ₦6.878265 billion at the end of December 2025. Of the June 2026 figure, ₦8.454455 billion was classified as unrestricted funds, while ₦529.751 million was restricted.
The accounts also disclose several outstanding obligations within the ₦767.863 million accounts payable figure. They include ₦397.794 million for the renewal of the lease of NBA House in Lagos, ₦134.575 million in outstanding Annual General Conference liabilities, ₦32.229 million relating to Information Technology, ₦13.232 million in outstanding 10 per cent Bar Practising Fee remittances to the Abuja, Iwo, Offa and Ogwashi-Ukwu branches, ₦10 million relating to a payment made by ICLE to Vertico Architecture on behalf of the NBA, and other liabilities.
The ₦134.575 million AGC payable includes ₦2 million described as an outstanding honorarium for pressmen during the 2018 Annual General Conference, another ₦2 million for the hiring of 10 buses during the 2018 conference, and ₦130.575 million described as an outstanding balance for the construction and maintenance of marquees for the 2022 Annual General Conference.
The report further disclosed ₦70.802 million payable to the NBA Abuja Branch, ₦72.624 million in withholding tax payable, ₦11 million in professional audit expenses, and other obligations that brought total accounts payable to ₦767.863 million.
The Association’s cash-flow statement showed that it began the period with approximately ₦4.454 billion in cash and cash equivalents, generated ₦1.713 billion from operating and funding activities, received ₦379.157 million in interest, and recorded a net increase of approximately ₦2.068 billion in cash and cash equivalents during the six-month period.
There is a minor ₦1,000 difference within the report itself: the Treasurer’s report and statement of financial position put the June 30 bank/cash balance at ₦6,522,005,000, while the cash-flow statement records the period-end amount as ₦6,522,004,000.
Accordingly, the principal figure reported by the Treasurer for the amount standing in the NBA’s bank accounts as at June 30, 2026 is ₦6.522005 billion, of which about ₦4.154264 billion was in fixed deposits, while much of the remaining balance was held in accounts designated for particular programmes, projects and other restricted purposes.
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