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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.

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Big Change Ahead? FG Set to Replace Multiple Emergency Lines with Just One Number

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The Federal Government has announced plans to implement 112 as Nigeria’s nationwide emergency telephone number, aiming to unify and strengthen the country’s emergency response system.

The initiative was disclosed in a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications (Office of the Vice President), following a meeting between Vice President Kashim Shettima and a delegation from the Nigerian Communications Commission (NCC) at the Presidential Villa.

The move comes days after the National Economic Council (NEC), chaired by Shettima, approved the adoption of 112 across all levels of government and agencies.

Shettima directed the NCC to develop a roadmap for implementation and to collaborate with the National Emergency Management Agency (NEMA) to improve coordination nationwide.

“The Vice President assured the delegation that the project would be sustained, with funding mobilised through NEC and private sector support,” the statement read.

NCC Chairman Idris Ibikunle Olorunnimbe noted that about 35 Emergency Communications Centres had already been established across the country, but urged greater support from governors, the police, ambulance services, and NEMA to keep them operational.

He stressed that the success of the initiative would depend on collective commitment:“Everyone is expected to buy into this initiative. It is a patriotic duty to ensure that anyone in distress can get help swiftly.”

The adoption of 112 is expected to streamline emergency response, reduce delays, and provide Nigerians with a single, reliable number for police, fire, medical, and disaster-related emergencies.

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Just In: Senator Uche Ekwunife Lands Powerful National Appointment

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By Tony Ezike

Distinguished Senator Uche Ekwunife, CON, has been appointed as a Member of the Board of Trustees (BOT) of the Solar Energy Society of Nigeria (SESN), a recognition of her outstanding leadership, integrity, and unwavering commitment to science, technology, innovation, and sustainable national development.

The appointment was communicated in an official letter dated May 1, 2026, and signed by the President of the Solar Energy Society of Nigeria, Dr. Sunny Akpoyibo, FSESN. According to the Society, Senator Ekwunife’s wealth of experience in public service and her remarkable contributions to national development make her a worthy addition to its highest decision-making body.

As a BOT member, Senator Ekwunife will provide strategic direction and oversight, help safeguard the Society’s mission, support research and advocacy in renewable energy, promote the adoption of solar technologies, and contribute to policy decisions aimed at advancing Nigeria’s clean energy transition.

The appointment, which took effect on April 15, 2026, is for an initial two-year term, subject to the provisions of the Society’s constitution. Senator Ekwunife formally accepted the appointment on May 11, 2026, pledging to faithfully discharge her responsibilities in line with the Society’s ideals and constitutional provisions.

Established in 1980, the Solar Energy Society of Nigeria remains one of the nation’s leading professional organizations promoting solar and renewable energy through research, advocacy, policy engagement, public enlightenment, and professional collaboration.

Senator Ekwunife’s appointment is widely regarded as a testament to her impactful service as Chairperson of the Senate Committee on Science, Technology and Innovation during the 9th National Assembly. During her tenure, she played a significant role in strengthening the National Agency for Science and Engineering Infrastructure (NASENI), championing legislative reforms that secured first-line charge funding for the agency from the Federation Account, thereby boosting technological innovation and industrial growth.

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Her inclusion on the SESN Board of Trustees further underscores her enduring commitment to national development. Stakeholders believe her experience and leadership will strengthen the Society’s efforts to expand renewable energy access, promote sustainable energy policies, and support Nigeria’s journey toward a cleaner, greener, and more resilient energy future.

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Miyetti Allah President in Trouble as EFCC Files $2.63m Money Laundering Charges

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A federal high court in Abuja has remanded Bello Bodejo, president of Miyetti Allah Kautal Hore, in the custody of the Economic and Financial Crimes Commission (EFCC) over an alleged $2.63 million money laundering case.

Inyang Ekwo, presiding judge, on Thursday, ordered that Bodejo remain in the anti-graft agency’s custody pending the determination of his bail application.

The judge adjourned the matter to July 20 for ruling on the bail request.

Bodejo was arraigned on charges bordering on alleged money
laundering and pleaded not guilty to all counts.

Following the arraignment, Wahab Shittu, counsel to the EFCC, asked the court to fix a date for trial and remand the defendant.

Ahmed Raji, counsel to Bodejo, informed the court that a bail application had already been filed and urged the court to hear it.

Moving the application, Raji said the motion, filed on June 30, was supported by several grounds.

The senior advocate argued that the offences alleged against his client are bailable under the Administration of Criminal Justice Act (ACJA) and urged the court to grant bail.

Shittu opposed the application, relying on a 28-paragraph counter-affidavit filed by the EFCC.

“We adopt all our processes in opposition to the application my lord,” he said.

The prosecutor argued that Bodejo had previously been “a guest at the Department of State Services (DSS) for other offences” and could commit further offences if released on bail.

Shittu also dismissed the defendant’s claim of ill health, arguing that the injury he referred to was not recent and that he did not appear to be in poor health.

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He further submitted that Bodejo could interfere with witnesses if granted bail, but urged the court to impose stringent conditions should it decide otherwise.

According to the charge, the EFCC alleged that Bodejo, on January 21, 2022, accepted $200,000 in cash from Sa’idu Abubakar, a former accountant-general of Bauchi State, in a transaction that exceeded the threshold permitted by law.

The commission also alleged that he received another $100,000 in cash from Abubakar on October 26, 2022, and a further $980,000 in separate cash transactions.

The EFCC said the alleged offences contravene Section 19(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and are punishable under Section 19(2)(b) of the same Act.

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Reps Move to Punish South Africa Over Xenophobic Attacks

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The House of Representatives has urged the Federal Government to impose strong diplomatic measures against South Africa following renewed xenophobic attacks, extrajudicial killings, and alleged systematic persecution of Nigerians and other African nationals.

The resolution was adopted after a motion of urgent public importance sponsored by Yusuf Gagdi, who represents Kanke/Kanam/Pankshin Federal Constituency of Plateau State.

The motion received unanimous support during plenary presided over by Deputy Speaker Benjamin Kalu.Gagdi condemned the repeated violence against Nigerians, noting that recent reports confirm fresh attacks on citizens from Nigeria, Ghana, Zimbabwe, Zambia, Mozambique, and Malawi.

 

He highlighted the killing of two Nigerians, one allegedly in police custody and another murdered outside his business premises.

 

Recalling Nigeria’s pivotal role in the anti-apartheid struggle, Gagdi described the current treatment of Nigerians in South Africa as “profoundly disturbing” and a betrayal of African solidarity.

 

He warned that continued attacks undermine pan-African unity and regional integration.Other lawmakers, including Billy Osawaru, Moshood Akiolu, Ghali Tijjani, and Adebayo Adepoju, echoed calls for decisive action.

 

They urged intensified diplomatic engagement, legal redress, and support for affected Nigerians, while also advocating for the summoning of South Africa’s High Commissioner in Abuja.

 

The House resolved to:Summon South African envoy to explain Pretoria’s position on protecting Nigerians.

 

Push for international investigation into the killings of Nigerians and other Africans.Engage AU and UN to ensure accountability and protection of migrants.

 

Review bilateral ties with South Africa, including possible suspension of cooperation.Strengthen consular services and provide reintegration support for Nigerians returning home.

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An ad hoc committee will also be constituted to engage South Africa’s Parliament, government, and regional institutions, with a report expected within 21 days.

 

Xenophobic violence in South Africa has remained a recurring diplomatic flashpoint, with major outbreaks in 2008, 2015, and 2019 claiming lives and destroying businesses owned by foreign nationals, including Nigerians.

 

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“I Told Them To Kill My Brothers” – Governor Speakes on N300m Ransom Refusal

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Governor Dauda Lawal of Zamfara State has revealed that he refused to pay a N300 million ransom demanded by kidnappers who abducted his brothers in 2019, saying he chose not to negotiate with the criminals rather than encourage the growing menace of kidnapping for ransom.

 

The governor said his decision was based on his conviction that paying ransom only emboldens criminal groups to continue abducting innocent people.

Lawal made the disclosure on Thursday while speaking at the ARISE News and THISDAY Townhall Conference in Abuja, where he also renewed his call for the establishment of state police as part of broader efforts to tackle insecurity across the country.

 

Recounting the ordeal, the governor said the kidnappers demanded N300 million for the release of his brothers, but he refused to negotiate or make any payment.

 

“My own brothers were kidnapped in 2019, and these criminals were demanding at the time about 300 million. And I said, look, I’m not going to pay a dime. If you like, go and kill them.”

 

According to him, despite his refusal to pay, the kidnappers eventually released his brothers after they spent about three months in captivity.

 

Lawal maintained that his experience reinforced his belief that ransom payments only strengthen criminal networks and fuel more abductions.

 

“By the time we continue to pay ransom to these people, we are encouraging them to be kidnapping people more and more.”

 

He argued that if kidnappers realise they cannot obtain money from victims’ families or governments, they would be discouraged from engaging in the crime.

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The governor stressed that his position has remained unchanged over the years, insisting that he would never negotiate with or reward criminals.

 

“I will not negotiate, and I will not pay ransom to any criminal, no matter what happens.”

 

Lawal made the remarks while advocating for the creation of state police, arguing that governors should have operational control over security architecture in their states if they are expected to guarantee the safety of residents.

 

He lamented that although governors are widely regarded as chief security officers of their states, they lack constitutional authority to direct the operations of the various security agencies.

 

“In as much as I was called or I’m being called the chief security officer of the states, however, I don’t have the command and control structure to determine what happens or give instructions to some of these security officers.”

 

According to him, the current arrangement places governors in a difficult position, as they are held responsible for insecurity despite having no direct control over the police and other security agencies operating within their states.

 

Lawal described security as the foundation upon which every other aspect of development depends, saying meaningful progress cannot be achieved where lives and property are not adequately protected.

 

“Why is it difficult for people to understand that my primary responsibility is the protection of lives and property, and I don’t have that control? How do you hold me accountable?”

 

The governor said establishing state police would make elected leaders more accountable to the people, as citizens would be able to directly assess the performance of their governors in maintaining law and order.

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He also argued that state governments would be better positioned to recruit, fund, equip and train security personnel based on the peculiar security challenges in their respective states.

 

Lawal further noted that the Nigeria Police Force is constrained by inadequate funding, poor welfare and insufficient training, challenges he said have continued to affect the effectiveness and morale of officers.

 

Highlighting Zamfara State’s investment in security, the governor disclosed that his administration currently finances more than 30 per cent of security operations carried out within the state.

 

He said that over the past three years, the state government had procured more than 500 operational vehicles for security agencies to strengthen their capacity to combat banditry and other violent crimes.

 

Lawal also revealed that the government recently acquired and handed over 35 Armoured Personnel Carriers (APCs) and Mine-Resistant Ambush Protected (MRAP) vehicles to support ongoing security operations.

 

The governor added that his administration has embraced technology in the fight against insecurity through the acquisition of both surveillance and combat drones.

 

“We bought drones, both surveillance drones and attack drones, to be able to aid the security forces in terms of fighting these criminals in their respective areas.”

 

He maintained that the solution to Nigeria’s worsening insecurity lies in strengthening security institutions through improved funding, better welfare, enhanced training and modern technology rather than negotiating or paying ransom to armed groups.

 

Lawal’s comments come amid renewed national conversations on the creation of state police and wider security sector reforms, with supporters arguing that decentralising policing would improve accountability, enhance intelligence gathering and enable quicker responses to local security threats across the country.

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(DailyTrust)

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PBAT Door-To-Door Movement Gets Big Boost as Akpabio, Abbas, Others Inaugurate Exco

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The President Bola Ahmed Tinubu (PBAT) Door-to-Door Movement
on Thursday inaugurated its national executives in Abuja, with prominent
political leaders, traditional rulers, and stakeholders urging Nigerians to
support the administration’s reform agenda.

The movement, founded by Government Oweizide Ekpemupolo, popularly known as Tompolo, said the inauguration forms part of efforts to deepen grassroots mobilisation and promote civic participation across the country.

Among dignitaries at the event were Senate President Godswill Akpabio; Speaker of the House of Representatives Tajudeen Abbas; Governors Dauda Lawal of Zamfara, Agbu Kefas of Taraba, Caleb Mutfwang of Plateau, and Umar Bago of Niger; the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi; former Katsina governor Aminu Bello Masari; former Niger Delta militant leader Asari Dokubo; and APC national chairman Nentawe Yilwatda.

A documentary titled ‘The Journey So Far for the Door-to-Door Movement’ was screened during the ceremony, highlighting the activities and growth of the organisation.

Addressing participants, Akpabio said difficult but necessary reforms were essential for national progress.

“Nations do not become great because they avoid difficult decisions; they become great because they confront decisions with wisdom, patience and patriotism. Lasting progress is rarely achieved without temporary sacrifice,” the senate president said.

Abbas defended the Tinubu administration’s economic reforms,
describing them as bold decisions taken with the country’s long-term interest
in mind.

“History will remember President Tinubu for his courage. He met a nation at a crossroads. He chose conviction over convenience: fuel subsidy removed, exchange rate unified, a new tax system built from the ground up. They were decisions taken for posterity. The road has demanded sacrifice, and we do not take that sacrifice lightly,” the speaker said.

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The Ooni of Ife said the administration’s policies were repositioning the Nigerian economy, citing developments in the capital market and foreign reserves.

Delivering the keynote lecture, Professor Bashir Makarfi of Bayero University, Kano, said reforms introduced by the Tinubu administration were beginning to yield results.

“The fact is too visible to be denied that Nigeria is undergoing a transformation under Bola Tinubu,” he said.

Speaking on the economy, Aminu Bello Masari, former governor of Katsina state, said inflationary pressures were gradually easing while investor confidence was improving.

The managing director of Tantita Security Services Nigeria Limited, Kestin Ebimorbowei Pondi, described Tinubu as a symbol of purposeful leadership and urged Nigerians to remain united behind the administration.

“With unity, resilience and determination, Nigeria will get
to the promised land,” Pondi said.

President Bola Tinubu followed the inauguration live from the State House in Abuja, alongside Nuhu Ribadu, the national security adviser.

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Big Change! US Applicants Can No Longer Use Agents for Nigeria Visa

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Travellers in the United States who require Nigerian visas will now submit their applications directly to the Nigerian embassy and consulates after the Nigeria Immigration Service (NIS) disengaged its third-party visa application service provider.

Previously, Online Integrated Solution (OIS SERVICES) functioned as the operator of Nigeria’s visa application and submission centres in the US.

However, a statement issued Thursday by Akinsola Akinlabi, NIS public relations officer, said the operator has been disengaged effective immediately. Akinlabi did not state why.

“Travellers seeking Nigerian visas are now required to submit their applications directly at the embassy of Nigeria in Washington, DC, or at the consulates of Nigeria in New York and Atlanta until further notice,” Akinlabi said.

He conveyed the NIS’ assurance that the embassy and consulates have put adequate measures in place to ensure seamless submission, processing, and issuance of visas.

The immigration official noted that applicants are further advised to monitor the official communication channels of the NIS and the Nigerian mission in the US for updates on visa application procedures.

He added that the NIS remains committed to providing efficient service delivery.

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Oshiomhole Drops Truth Bomb: Governors Powerless Without State Police

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The lawmaker representing Edo North Senatorial District, Adams Oshiomhole, has thrown his weight behind the creation of state police in Nigeria.

Oshiomole expressed his support on Thursday at Arise Television’s Town Hall on State Police.

According to him, governors cannot be held accountable as chief security officers without having operational control over policing.

He described Nigeria’s current policing structure as contradictory, stressing that governors fund security operations but lack the authority to recruit, deploy or discipline officers.

The former Edo State governor also dismissed fears that state police would be abused, insisting that misuse of power already exists under the current centralised system and should be addressed through democratic
accountability and public oversight.

“Various state governors can’t be the Chief Security Officers of their respective states without operational control over policing.

“Decentralised policing would improve security, clarify responsibility and align Nigeria’s federal system with its constitutional structure.

“Lawmakers should move from debate to its implementation,” he said.

Recall that both chambers of the National Assembly passed a bill for the creation of state police in Nigeria.

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Wike: FCT Civil Servants Are Angry Because I Stopped Money Diversion

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said he is not popular among civil servants because he has blocked avenues for the diversion of public funds.

Wike made the revelation during his monthly media chat on the state of the nation in Abuja on Thursday.

 

According to him, some funds previously diverted by civil servants are now being channelled into productive projects, particularly road construction.

 

“We waste our resources on frivolities,” the minister stated. He cited the example of requests for funds to attend international conferences, such as one on land administration in America, which he refused to approve.

 

“How do you encourage me to sign N20 million to travel to America for a conference of one week for land administration? I won’t do that,” Wike said.

He explained that before his arrival, about 65 percent of the FCT budget went to recurrent expenditure.

 

He reversed this priority, directing 70 percent to capital expenditure and 30 percent to recurrent.“Some people say conferences for corruption… These are ways government funds are being diverted. I say put this money in this road here and the people will get the impact,” he added.

Wike concluded that this stance explains why he may not be liked by some civil servants. “If you ask anybody today, one Minister they won’t like is me. Why? Those money for conferences, I put the money together for roads.”

The minister has consistently emphasised fiscal discipline and infrastructure development in the FCT since assuming office.

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