The 14th edition of the BusinessDay Banks and Other Financial Institutions (BAFI) Awards took place on October 9, 2026, at the Civic Centre, Victoria Island, Lagos, recognising achievements across Nigeria’s financial services industry.
The BusinessDay Banks and Other Financial Institutions (BAFI) Awards 2026 is an annual awards programme that recognises outstanding performance, innovation and leadership across Nigeria’s financial services industry.
The ceremony brought together banking executives, financial regulators, corporate leaders and other stakeholders to celebrate institutional performance, innovation and growth. The event also featured a live musical performance by David Operah.
According to BusinessDay, the awards covered 67 categories across banking, digital payments, investment management, capital markets, insurance, pensions and specialised financial services.
Zenith Bank emerged as Bank of the Year and Technology Bank of the Year, receiving recognition for its performance in banking and technology-driven financial services.
Other banking winners included Providus Bank, named Future Ready Bank of the Year; Parallex Bank, which won Innovative Bank of the Year; and Fidelity Bank, which received awards for banking leadership and oil and gas financing.
In digital finance, OPay won Digital Bank of the Year and Financial Inclusion Leader of the Year, while PalmPay was named Digital Payments Platform of the Year.
Cardtonic received the Digital Payments Disruptor of the Year and Virtual Access Card Market Leader of the Year awards, recognising its position in Nigeria’s digital payments market. Maplerad also won Borderless Payments Provider of the Year, while TeamApt received the Financial Ecosystem Innovator of the Year award.
Prospera Finance Limited was named Fastest-Growing Finance Company of the Year. The company provides financial products to individuals, small and medium-sized enterprises, and corporate organisations across Nigeria.
Meanwhile, i-invest, a digital investment platform powered by Parthian Financial Services, received the Capital Markets Access Innovator of the Year award. The recognition highlighted its use of technology to expand access to investment opportunities, including equities, fixed-income securities and mutual funds.
Other notable winners included Leadway Assurance, named Insurance Company of the Year; Leadway PFA, which won Pension Company of the Year; and Bank of Industry, recognised as Development Finance Institution of the Year. Aruwa Capital received the Gender-Lens Investment Leader of the Year award.
The awards highlighted the range of institutions contributing to Nigeria’s financial services sector, from traditional banking and insurance to digital payments, investment platforms and specialised lending.
Organised by BusinessDay, the annual awards recognise financial institutions for achievements in areas including growth, innovation, corporate governance and service quality.
