This paper empirical investigated into the earnings of commercial banks in Nigeria under the post consolidation era with a view to identifying whether bank-specific factors and macroeconomic variables influences the performances of Commercial banks in Nigeria. With a sample of 11 listed Commercial banks drawn from 2009 to 2019, the study used both static and dynamic models within the context of the panel data framework to estimate net interest margin as a proxy for bank earnings. The results show that there is no significant dynamic effect on the earnings of commercial banks under the period. However, the bank-specific factors affecting net interest margin are management efficiency (cost to income ratio), liquidity (both liquidity ratio and loan to deposit ratio) and capital (equity to total assets ratio), while short-term interest rate (treasury bills rate) is the only macroeconomic variable that has significant impact on net interest margin. Overall, the adjusted R squared with coefficients of 0.6001 and 0.5672 explain the indifference in the levels of interactions between the two models showing as much as 57 to 60 percent variations of commercial  bank earnings attributable to the joint influence of bank specific factors alone and bank level with macroeconomic variables regressed together respectively. Essentially, these findings imply that Nigerian banks are operating within rules and principles that promote efficiency and economy as well as reflect effective supervisory and regulatory regime