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Zenith Bank Posts First Trading Loss In Over A Decade

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Zenith Bank Plc managed to absorb the shock of a deep plunge from asset trading gains of N1.10 trillion in the previous year to a loss of over N63 billion in 2025. How the bank was able to tide over the revenue loss that big and shield its bottom line from being hit sums up its earnings story in 2025.

Trading gains of N1.10 trillion accounted for 27.7 percent of the bank’s gross earnings in 2024 and the plunge into a loss position in 2025 depicts the high volatility of earnings to which the bank and the banking industry as a whole is subject.

Zenith Bank’s audited financial report for the full year ended December 2025 shows the first trading loss in more than a decade coming after two preceding years of huge trading gains. In two years to 2024, the bank raked in more than N2 trillion in asset trading gains – more than the sum of its trading gains for 10 years to 2022.

The boom reversed in 2025 and the strong growth in non-interest earnings recorded over the two preceding years overturned to a drop of 63 percent from N1.10 trillion to close at N405 billion.

The bank’s management had to look elsewhere to make up for the huge revenue loss and interest earnings came to the rescue. Interest income from lending and investing activities of the bank rolled in N3.67 trillion, marking additional inflow of N952 billion in the year.

The figure represents an increase of 35 percent in the year against single digit increases in loans and advances and investment securities. This means a significant increase in asset yield, as the average interest earned per naira of loans and advanced grew from 27 percent to an all-time peak of over 35 percent over the review period.

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Interest income therefore more than compensated for the disappointing performance of trading activities and accounted for an increase of 5.6 percent in gross earnings to N4.19 trillion at the end of 2025.

The good performance of interest income reflects some gains in overall credit quality standard of the bank with write backs on a number of asset classes during the year. A major slowdown in net impairment charges on financial assets was recorded in the year from 60.4 percent rise in 2024 to 13 percent increase to N742 billion in 2025.

The same ability to keep up the top line was recorded in defending the bottom line despite the revenue constraint. The bank applied cost saving to free earnings good enough to keep profit from losing the height attained the previous hear.

The biggest cost saving centre in the year is cost of funds, which slowed down drastically from a rise of 143 percent in 2024 to an increase of 4 percent in 2025. Customer deposits grew more than two and half times faster at 10.8 percent to N24.32 trillion, meaning that on the average, cost of funds declined.

The management of interest income and expense relationship in the year – stretching out earnings and squeezing cost, provided the room to dress up the bank’s bottom line performance.

Interest expenses were reined in while interest income grew close to nine times faster to permit an impressive growth of 52.7 percent in net interest income. To that was added further cost saving from net loan impairment expenses that slowed down from 60.4 percent growth in the preceding financial year to an increase of 13 percent to N742 billion in 2025.

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Zenith Bank’s management succeeded in reducing significantly the proportions of interest earnings claimed by both interest expenses and loan impairment charges. These two steps powered a surprising growth of 77 percent in net interest earnings after loan loss expenses, which closed at N1.90
trillion for the year.

The increase represents additional income of N825 billion,  which provided the much needed room to level up the drop in non-interest earnings and absorb operating expenses without hurting profit volume. However, cost saving could not be extracted from operating expenses – which grew by over 23 percent to N1.04 trillion, more than four times the increase in gross earnings.

Operating cost margin therefore increased from 21.3 percent in 2024 to 24.8 percent in 2025, yet one of the lowest cost margins of the bank in many years. The increase in operating cost margin lowered profit margin from
26 percent in the previous year to 24.8 percent in 2025, the lowest net profit
margin in three years.

In effect, all the cost savings managed to cover revenue disappointments and cost increases, leaving after tax profit flat at N1.04 trillion.

Zenith Bank closed the 2025 operations with earnings per share of N25.32, slightly up from N25.15 per share in 2024. The directors have announced a final cash dividend of N8.75 kobo per share in addition to an interim cash dividend of N1.25 paid in the course of the financial year.

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Ojogwu Godwin Chukwudi hailed from Delta State. A young talented personality, Alumnus of Delta State university,Abraka Studied Library and information science. He is an intellectual cyber communicator expert and a prolific blogger professional.

HEALTH

After Oko Hostel Tragedy, Sen. Uche Ekwunife Calls for Tougher Building Safety Enforcement (See details)

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The Most Distinguished Senator Uche Ekwunife, CON, has expressed deep sadness over the tragic collapse of a student hostel in Oko, Orumba North Local Government Area of Anambra State, which claimed lives and left several others injured.

In a statement issued following the incident, Senator Ekwunife extended her heartfelt condolences to the families of the victims, describing the loss of lives as a painful tragedy for the bereaved families, the Oko community, and Anambra State as a whole.

She also expressed concern for those who survived the collapse and are currently receiving medical treatment, praying for their quick and complete recovery.

While commending the efforts of rescue workers, security personnel, healthcare providers, volunteers, and community members involved in the emergency response, the former senator urged them to sustain the search-and-rescue operation until every missing person is accounted for.

Senator Ekwunife further called on the appropriate authorities to conduct a thorough, transparent, and impartial investigation into the cause of the building collapse. She stressed that establishing the circumstances surrounding the incident is crucial not only for ensuring accountability but also for preventing similar tragedies in the future.

She also advocated stricter monitoring and enforcement of building regulations across Anambra State, emphasizing that adherence to approved construction standards and professional guidelines must be treated as a critical public safety responsibility rather than a mere administrative requirement.

According to her, stronger enforcement by relevant regulatory agencies would significantly reduce the risk of building failures and help safeguard lives and property.

Senator Ekwunife concluded by praying for the peaceful repose of the souls of those who lost their lives, divine comfort for their grieving families, and speedy healing for those injured in the unfortunate incident.

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The statement was signed by Tony Ezike, Special Adviser on Media and Publicity to Senator Uche Ekwunife.

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FOREIGN NEWS

Boat Trip Ends in Horror as 20 Die, Majority Nigerians

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A boat accident in the Republic of Cameroon has claimed at least 20 lives, including 18 Nigerians travelling to a community in Adamawa
State.

The boat, said to have been travelling from Garoua in Cameroon to Yola in Nigeria, capsized after encountering a violent storm late
Monday night, it was learnt on Tuesday evening.

Witnesses said the boat, which was carrying more than 50 passengers, was also heavily loaded with iron rods and other building materials
meant for Dasin, a village in Fufore Local Government Area of Adamawa State.

They recounted that the boat was caught in a severe storm around midnight, causing it to overturn. Initial estimates indicated that about
30 people might have died, but local authorities have so far confirmed that about 20 victims have been killed.

Among the deceased, the 18 identified as Nigerians have been buried in Wuro Bokki community in Fufore LGA, according to reliable sources,
while search and rescue operations continue for passengers who are yet to be accounted for.

Divers from both Cameroon and Nigeria are said to be involved in the search, while many survivors are receiving treatment at hospitals in border communities.

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NEWS

“I Pray For It” — Gov. Sule Drops Bombshell on 2027 Ticket

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Nasarawa Governor Backs Christian-Christian Presidential Ticket governor Abdullahi Sule of Nasarawa State has expressed hope that Nigeria will one day produce a Christian-Christian presidential ticket that can win at the polls.

Speaking on Channels Television’s Politics Today on Tuesday, Sule dismissed claims that the ruling APC’s Muslim-Muslim ticket amounted to religious exclusion.
He argued that Nigeria was overdue for a Christian-Christian pairing, noting that past Muslim-Muslim tickets had succeeded electorally.
“I pray that one day Nigeria will have a Christian-Christian ticket, and it will win. That’s what I pray to see,” Sule said.
He recalled the 1993 election in which Chief Moshood Abiola ran on a Muslim-Muslim ticket, stressing that such arrangements had historically delivered victory.
Sule added that opposition voices like Rabiu Kwankwaso’s concerns were expected, but insisted no APC governor had ever described the party’s ticket as divisive.
Citing Sections 14 and 15 of the constitution, Sule emphasized that federal character provisions guarantee inclusiveness across ethnicity and geography, but do not reference religion.
He highlighted his own deputy, Emmanuel Akabe, a Christian, as evidence that competence, not religious balancing, guided his choice.
“Our state is different from Nigeria. You cannot take a particular state. Take Enugu, for instance, it has a Christian-Christian arrangement. Take Bayelsa, it’s Christian-Christian,” he explained.
Sule maintained that political arrangements vary by state realities, but reiterated his belief that a Christian-Christian presidential ticket could succeed nationally.

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Shock Proposal? Senator Pushes Bill to Recognize Native Doctors’ Role in Connecting With Ancestors

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Garba Maidoki, senator representing Kebbi south, has called for the inclusion of traditional medicine in a bill seeking to overhaul
Nigeria’s food and drug regulatory framework.

He argues that indigenous healing practices remain relevant, particularly in rural communities.

The senator spoke on Tuesday during debate on a bill seeking to repeal the Food, Drug and Related Products (Registration, Etc.) Act and the
Food and Drug Act, and replace them with a single legal framework for regulating food, medicines and other products that affect public health.

‘MOST RURAL DWELLERS RELY ON TRADITIONAL MEDICINE’

Speaking in support of the bill sponsored by Sadiq Umar, senator representing Kwara north, Maidoki said the legislation should also
recognise traditional medicine.

“I rise to also support this motion ably sponsored by Senator Suleiman Sadiq. This motion, as my colleague said, is apt, is timely,
and is in good faith to modernise the practice of food and drug registration in Nigeria,” he said.

“But Mr. President, I want to bring to your attention that even though this is modernised, we have not seen anything on this bill
concerning traditional medicine.

“Concerning traditional medicine, sir, most of our rural dwellers, most of them rely mostly on this traditional medicine.

“And I think it is high time that we have a law that also allows traditional medicine to be implemented.

“Holistically, if this is done, we will also reduce the cost of importation of drugs from foreign nations, and we will rely mostly on our
own indigenous herbs and medication by our own native doctors.”

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Maidoki said incorporating traditional medicine into the legal framework would reduce dependence on imported medicines.

He added that the bill’s sponsor, a pharmacist, should work towards integrating traditional practitioners into the country’s healthcare
system.

“I think if this is done, the pharmacist Senator Suleiman will be able to incorporate these people and make this holistic,” he said.

The lawmaker said some ailments are better treated with herbal remedies than orthodox medicine.

“Even some of us that are senators, sometimes we rely, we go to herbal medicine to help us with one ailment or the other, which sometimes
the modern medicine has no answer. Like if your ancestors decide to talk to you, you need a native doctor to intercede on your behalf,” he added.

Maidoki’s remarks elicited laughter in the senate chamber.

Senate President Godswill Akpabio responded in a light-hearted manner.

“Thank you, Distinguished Senator Garba. The native doctor will intercede between you and the ancestor,” he said.

“It’s actually baffling that this was part of the African religion, but when the white people came, they now told us that we don’t need
our ancestors, but I think from what you are saying, you are still using your ancestors.”

The bill later passed second reading after receiving the support of lawmakers.

If enacted, the legislation will repeal two existing food and drug laws and establish a unified regulatory framework covering food,
medicines, vaccines, medical devices and other products that affect public health.

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NEWS

One Condition: Oluremi Reveals What She’ll Wear If Husband Is Re-Elected

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Nigeria’s First Lady, Senator Oluremi Tinubu, has promised to embrace traditional Igbo attire by wearing an Akwete wrapper if her husband, President Bola Tinubu, secures a second term in office.

She made the remark during her maiden visit to the Akwete Weaving Cooperative Village in Abia State on Tuesday, where she also announced a ₦2 billion donation to support the revitalisation of the weaving industry.
“If God brings my husband in a second time, I’ll be wearing a buba and wrapper made from Akwete. I am going to be wearing that because it is very soft breathable cotton,” she said, praising the generational skill transfer among local weavers.
The First Lady commended the women of the cooperative for preserving the craft and urged Nigerians to patronise locally made textiles as a way of boosting indigenous craftsmanship and rural livelihoods.
She explained that her visit was informal, aimed at spending time with the women rather than delivering a scripted speech.
Tinubu also expressed gratitude to Abia State Governor Alex Otti, describing him as “a good man,” and recalled her earlier efforts to connect with his wife to learn more about the weaving tradition.
Her pledge highlights the administration’s broader push to promote Nigerian-made products and preserve cultural heritage, while offering direct financial support to strengthen the weaving industry.

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FOREIGN NEWS

A New Era? US and Saudi Arabia Near Landmark 30-Year Nuclear Agreement

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The United States is set to announce a landmark 30-year nuclear agreement with Saudi Arabia, aimed at establishing a civilian nuclear program in the kingdom, according to reports from US media outlets.

The deal, expected to be unveiled Wednesday, comes amid heightened tensions between Washington and Tehran over Iran’s nuclear ambitions.
The New York Times cited US officials confirming that the Trump administration would formally sign and announce the agreement, which is projected to generate billions of dollars for the US nuclear industry.
According to the Wall Street Journal, the pact could allow US companies to build a uranium enrichment facility in Saudi Arabia.
However, the proposal has drawn opposition from US lawmakers across party lines and Israeli officials, who fear the program could be diverted toward developing nuclear weapons.
While the deal will be submitted to Congress, its approval is not required for implementation. Washington has also sought to link the nuclear agreement to broader strategic goals, including Saudi Arabia’s potential normalization of ties with Israel and a US-Saudi defense pact.
Saudi Arabia has long insisted on its right to pursue a civilian nuclear program, similar to the UAE, which signed a nuclear deal with Washington in 2009 but does not enrich uranium.
US Secretary of State Marco Rubio, speaking in Manila, declined to confirm the deal but assured that Washington would not enter any agreement that risks nuclear proliferation.
The announcement comes as the US war with Iran continues to destabilize the region, with Yemen’s Houthi rebels threatening to blockade Saudi ports, a move that could disrupt global oil supplies.

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Nigeria Remains Africa’s Population Giant as New 2026 Figures Emerge

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Nigeria has retained its position as Africa’s most populous country, with an estimated population of 242.4 million people in 2026, according to new figures from Worldometer.

The estimate places Nigeria ahead of Ethiopia (138.9 million) and Egypt (120.1 million), which rank second and third respectively.
Africa as a whole remains the world’s fastest-growing continent, with its population projected to surpass 2.5 billion by 2050, driven by youthful demographics, high fertility rates, and improved healthcare.
Nigeria’s last official census was conducted in 2006, when the population stood at 140.4 million. Since then, growth has been tracked through projections, with the World Bank estimating a 2.1% growth rate in 2025.
The country’s median age of 18 years and fertility rate of 4.2 children per woman continue to fuel rapid expansion.
Africa’s Top 10 Most Populous Countries (2026)Nigeria – 242.4 million, Ethiopia -138.9 million, Egypt, 120.1 million, Democratic Republic of Congo, — 116.5 million,Tanzania — 72.6 million, South Africa — 65.5 million, Kenya — 58.6 million, Sudan — 53.3 million, Uganda — 52.8 million, Algeria — 48 million.
Experts say Africa’s rising population will reshape markets, investment flows, and labour dynamics, with Nigeria expected to remain a central driver of the continent’s economic growth in the coming decades.

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ICPC Uncovers 908 Ghost Workers — Guess Which Agency Tops the Fraud List

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has uncovered 908 ghost workers across several federal ministries, departments and agencies (MDAs), recovering about ₦942 million allegedly siphoned through fraudulent payroll schemes.

ICPC Chairman Musa Aliyu disclosed that the discovery followed a probe launched in 2024 after irregularities were detected in pension payments.
The investigation revealed widespread payroll manipulation, with fictitious names inserted into salary systems to divert public funds.Aliyu alleged that some senior officials enrolled relatives and associates on government payrolls, pocketing their salaries.
In one case, a suspect reportedly placed his wife, son, and mother-in-law on the payroll while also collecting salaries of 12 other workers.
The investigation covered at least 50 federal MDAs, with the Nigeria Police Force recording the highest number of ghost workers at 570.
Other affected institutions include:
National Water Resources Authority — 80 ghost workersFederal Ministry of Works — 56
Ministry of Foreign Affairs — 24
Ministry of Defence — 19
Ministry of Power — 17Ministry of Industry, Trade and Investment — 17
Federal Ministry of Health — 15
Office of the Head of the Civil Service of the Federation — 12
Aliyu added that the Office of the Accountant-General of the Federation and the Ministry of Interior were also implicated, though the number of ghost workers in those institutions is still under review.
The ICPC says investigations are ongoing, with efforts focused on strengthening payroll integrity and ensuring accountability across government agencies.

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After Weeks of Speculation, Ogun Assembly Reaches Verdict on Oluomo

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The Ogun State House of Assembly has officially exonerated former Speaker Olakunle Oluomo of embezzlement allegations tied to his removal from office in 2024.

During Wednesday’s plenary at the Assembly Complex in Oke-Mosan, Abeokuta, lawmakers adopted a resolution that commuted Oluomo’s impeachment to a resignation.
The decision followed the presentation of a report by the Committee of the Whole House, delivered by Deputy Speaker Mrs. Lateefat Ajayi.
The report stemmed from a motion Oluomo submitted on March 31, requesting either exoneration or evidence to substantiate the allegation.
After reviewing available records, the House concluded that embezzlement was not part of the removal notice served on him and could not be proven.
Ajayi’s motion for adoption was seconded by Mr. Yusuf Amosun and unanimously approved by voice vote.
The Assembly cited Section 36 of the 1999 Constitution (as amended), affirming Oluomo’s right to fair hearing.In its resolution, the House withdrew the embezzlement allegation, stating it would no longer form part of the reasons for his removal.
Lawmakers further resolved to overturn the impeachment and record his exit as a resignation, describing the move as necessary for unity and harmony among members.

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