FCMB Group deployed a mix of strategies, including top-line expansion and cost management, to deliver a 90.5 per cent increase in net profit for the six months to June, compared with a year earlier, the latest accounts of the bank holding company published on Monday showed.

Gross earnings climbed to N676.2 billion from N529.2 billion, with 88.8 per cent of it solely contributed by interest and discount income, setting the scene for the big earnings boost, which was partly driven by a reduction in some major expenses.

Cost-to-income ratio dropped to 41.4 per cent from 57 per cent one year prior, strengthening earnings.

FCMB Limited, the group’s commercial banking division, continued to dominate performance across key income streams and accounted for more than three-quarters of post-tax profit.

The other divisions, including Credit Direct, its consumer lending business that offers payroll-based loans to customers, are all currently profitable, contributing their share to the bottom line.

The financial institution managed to scale back interest expense by 2.7 per cent (N6.8 billion), even as interest and discount income rose by up to 31 per cent, attributable to an improved low-cost deposit mix and lower cost of funds.

That was a lever for a jump in net interest income from N207.4 billion to N356.3 billion.

In a separate statement on Monday, FCMB Group highlighted the role of its digital business – comprising payments, lending and wealth – in driving turnover growth. It noted that digital revenue, at N89.1 billion, added 13.2 per cent to gross earnings due to volume growth.

“Our first-half performance demonstrates the strength of our recapitalised and diversified business model,” said Ladi Balogun, the CEO.

“We delivered record profitability despite accelerating the normalisation of asset quality towards regulatory thresholds, reflecting our commitment to building a stronger balance sheet for long-term growth,” he added.

Net fee and commission improved by almost one-third, enabled by both a rise in fee and commission income and a drop in related expenses.

Net trading income took a blow from sharply weaker bond and treasury bills trading income, falling 65.7 per cent year on year.

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Likewise, impairment losses quickened to N85.9 billion from N36.2 billion, as the provision for other losses, apart from those on loans and advances, surged 2,427.6 per cent to N48.1 billion.

Profit before tax roughly doubled to N157.3 billion, while profit for the period stood at N139.9 billion, up from N73.4 billion in the same period last year.

Mr Balogun assured that return on equity will surpass 25 per cent this year, compared with 21.1 per cent for the financial year 2025.

For decades, voter registration in Nigeria has been characterised by long queues, overcrowded registration centres, manual paperwork and hours, sometimes days, spent trying to obtain a Permanent Voter Card (PVC). 

For many eligible citizens, particularly young first-time voters, the experience has often been frustrating enough to discourage participation in the country’s democratic process. Today, that experience is beginning to change.

The Independent National Electoral Commission (INEC) has taken one of its boldest digital transformation steps by introducing a self-service online Continuous Voter Registration (CVR) platform that enables eligible Nigerians to complete significant parts of the voter registration process online, including biometric capture, without initially visiting a physical registration centre.

The platform marks a significant shift in Nigeria’s electoral administration, placing digital technology at the centre of citizen engagement and reflecting a broader trend towards e-government service delivery across the country.

Early experiences from users suggest the platform is achieving many of its objectives: simplifying registration, reducing stress and improving convenience. Yet they also reveal important lessons about digital inclusion, technology accessibility and public awareness that could determine whether the initiative becomes a permanent success.

The Independent National Electoral Commission (INEC) has taken one of its boldest digital transformation steps by introducing a self-service online Continuous Voter Registration (CVR) platform that enables eligible Nigerians to complete significant parts of the voter registration process online, including biometric capture, without initially visiting a physical registration centre.

INEC: A new chapter in Nigeria’s electoral modernisation

The introduction of the online CVR platform represents more than another government website. It marks a fundamental rethinking of how electoral services can be delivered in an increasingly digital society.

Instead of requiring every applicant to physically visit an INEC office to begin registration, the self-service platform allows eligible Nigerians to initiate and complete much of the process remotely using internet-enabled devices.

The platform enables citizens to:

• Register as first-time voters.

• Capture biometric information digitally.

• Update personal voter information.

• Transfer polling locations.

• Replace lost or damaged Permanent Voter Cards (PVCs).

• Manage voter registration records online.

The initiative, according to the nation’s elections umpire, forms part of INEC’s broader Continuous Voter Registration programme, which was extended beyond its original closing date of July 10, 2026, to July 26, 2026, giving more eligible Nigerians the opportunity to register ahead of future elections.

For an electoral body responsible for managing one of the world’s largest democratic exercises, digitalisation is increasingly becoming a necessity rather than an option.

Digital registration gains momentum

Early statistics released by INEC suggest Nigerians are beginning to embrace digital voter registration.

As of June 26, 2026, the commission reported that 1,565,873 Nigerians had successfully completed voter registration during the ongoing Continuous Voter Registration exercise.

The figures include:

• 620,933 citizens who completed online pre-registration.

• 944,940 citizens who registered physically.

Although physical registration continues to account for the larger share of registrations, nearly 40% of registrants using online pre-registration represents a notable milestone for digital public service adoption in Nigeria.

The figures mirror broader digital trends across the country, where citizens increasingly rely on online platforms for banking, education, healthcare, taxation, identity management and government services.

For INEC, the growing adoption suggests that technology can significantly improve electoral participation if properly implemented.

As of June 26, 2026, the commission reported that 1,565,873 Nigerians had successfully completed voter registration during the ongoing Continuous Voter Registration exercise.

Technology meets democracy

The introduction of online voter registration reflects a growing recognition that digital technology can lower barriers to democratic participation.

Across the world, electoral management bodies are increasingly adopting technology to simplify voter registration, improve electoral transparency and enhance operational efficiency.

Countries including Estonia, India, Brazil and Kenya have invested heavily in digital electoral technologies ranging from electronic voter databases to biometric verification and online voter services.

Nigeria’s latest initiative places the country within this global movement, although experts note that digital voter registration is only one component of broader electoral modernisation.

Successful implementation requires robust cybersecurity, reliable digital infrastructure, public trust and widespread digital literacy.

Source: INEC.

Citizens welcome simplicity

Technology Times spoke with Nigerians who recently completed registration through INEC’s online self-service platform. Their experiences reveal that convenience has become the platform’s strongest selling point.

Omotolani Kawojue, an assistant manager at a beauty salon, described the registration process as significantly easier than previous physical exercises. “It was a straightforward one. There’s really nothing much to it. It simplified the process of the registration.”

Although he encountered a temporary delay while verifying his phone number, he said the issue was resolved quickly. “It was easy,” Kawojue says, “although the number verification part had a little trouble before finally going through. Otherwise, everything else was okay.”

For Kawojue, avoiding long queues and spending hours at registration centres represented the platform’s biggest advantage.

For Kawojue, avoiding long queues and spending hours at registration centres represented the platform’s biggest advantage.

Process designed for digital natives

Recent university graduate Ogunpitan Tomisin experienced similar benefits. According to her, the platform’s clear instructions allowed her to complete registration independently without external assistance.

“The platform was quite easy to use. The instructions were clear, so I didn’t need anyone to guide me through the process.”

Completing the registration from home also saved valuable time.

“It saved me time because I completed most of the registration from home.”

Her experience reflects the expectations of Generation Z and younger millennials who increasingly expect government services to be delivered digitally.

For these citizens, digital convenience is no longer viewed as a luxury, it is becoming an expectation.

Digital inclusion still faces challenges

While the platform has received encouraging feedback, users also identified several limitations that could restrict wider adoption.

Device compatibility matters. Kawojue pointed to compatibility issues affecting Apple users. According to him, several iPhone users experienced difficulty downloading the application required for biometric fingerprint capture.

“Many iOS users couldn’t download the CVR app to scan their fingerprints. They should make the app available on Apple Store to include all devices in the registration process.”

Although seemingly technical, such compatibility issues have broader implications. Government digital platforms are expected to function seamlessly across Android, iOS and desktop environments to ensure equal access regardless of device choice. Failure to support widely used operating systems risks excluding segments of the population.

Although seemingly technical, such compatibility issues have broader implications. Government digital platforms are expected to function seamlessly across Android, iOS and desktop environments to ensure equal access regardless of device choice. Failure to support widely used operating systems risks excluding segments of the population.

Awareness remains surprisingly low

Tomisin believes the greater challenge may not be technology itself.

Instead, she says many young Nigerians simply do not know the online option exists.

“I think it is a good improvement, but many young people around me didn’t know they could begin their registration online.”

She recommends that INEC significantly expand publicity through universities, tertiary institutions and social media platforms where young Nigerians spend much of their time.

The observation highlights a recurring issue across many government digital initiatives. Building digital platforms is only the first step. Driving awareness and encouraging adoption often prove equally important.

Why digital voter registration in Nigeria?

Beyond convenience, online voter registration offers broader institutional benefits.

Digital registration can significantly reduce congestion at INEC registration centres, allowing officials to focus resources on applicants requiring physical assistance.

Reduced paperwork also improves operational efficiency and minimises administrative bottlenecks.

Online services help remove geographical barriers for citizens living far from registration centres.

Although internet connectivity remains uneven across parts of Nigeria, digital registration expands access for millions of urban and semi-urban residents.

Digital platforms reduce manual data entry errors while enabling more efficient record management. Integrated databases also simplify future voter record updates, transfers and verification.

Convenient digital services can strengthen citizens’ perception of public institutions by demonstrating responsiveness to changing technological expectations.

For younger Nigerians especially, digital accessibility may increase willingness to participate in electoral processes.

How INEC’s initiative fits Nigeria’s digital government agenda

INEC’s online voter registration platform reflects broader efforts to digitise public service delivery across Nigeria.

Recent years have seen government agencies increasingly deploying digital platforms for identity management, tax administration, company registration, healthcare, education and financial services.

The voter registration platform aligns with this national transition towards digital government. It also complements wider investments in digital identity systems, broadband infrastructure and electronic public services designed to improve governance.

As Nigeria advances its digital economy agenda, electoral administration is becoming another important beneficiary of technology.

The online Continuous Voter Registration platform demonstrates that digital innovation can simplify one of Nigeria’s most important civic processes. However, technology is only one part of the equation. Infrastructure, digital literacy, public awareness and trust remain equally important. Without widespread awareness, even well-designed digital platforms risk low adoption.

The road ahead

Despite encouraging early adoption, several issues will influence the platform’s long-term success.

Among them are:

• Expanding compatibility across all mobile operating systems.

• Improving internet accessibility nationwide.

• Strengthening cybersecurity for sensitive voter information.

• Increasing public awareness campaigns.

• Enhancing technical support for users encountering registration challenges.

• Ensuring platform stability during periods of peak demand.

Addressing these issues will be critical if online registration is to become the preferred option for future voter registration exercises.

Technology alone will not deliver electoral inclusion

The online Continuous Voter Registration platform demonstrates that digital innovation can simplify one of Nigeria’s most important civic processes. However, technology is only one part of the equation. Infrastructure, digital literacy, public awareness and trust remain equally important. Without widespread awareness, even well-designed digital platforms risk low adoption.

Without reliable connectivity, convenience becomes unevenly distributed. Without continuous improvements, public confidence may decline.

Technology Times review

INEC’s online self-service voter registration platform is arguably one of the most citizen-focused digital government initiatives introduced in Nigeria in recent years.

The platform addresses longstanding complaints surrounding voter registration by reducing travel, shortening waiting times and giving citizens greater flexibility over when and how they register.

Equally significant is what the initiative represents. It reflects an electoral commission increasingly willing to embrace digital innovation to improve service delivery.

The positive experiences shared by early users suggest the platform has laid a strong foundation.

However, the next phase will require INEC to move beyond technology deployment towards technology adoption: ensuring every eligible Nigerian is aware of the service, can access it regardless of device or location and trusts the digital process.

If these challenges are addressed, the online CVR platform could become more than an electoral innovation. It could become one of Nigeria’s strongest examples of how digital government can improve citizen experience, deepen democratic participation and strengthen public institutions.

For millions of Nigerians who once associated voter registration with endless queues and frustration, democracy may finally be becoming as simple as logging in, verifying an identity and completing a registration, from virtually anywhere.