Author: Ifetayo Adeniyi

Left: Mustafa Bello and Jim Ovia Zenith Bank has announced the retirement of its founder and group chairman, Jim Ovia, following the expiration of his tenure. The announcement was made on Tuesday during the bank’s ongoing 35th Annual General Meeting and further communicated in a statement. The bank said Ovia stepped down after completing the mandatory 12 years as a non-executive director and chairman, in compliance with the corporate governance guidelines issued by the Central Bank of Nigeria. Ovia became the bank’s chairman on July 16, 2014. He returned to the position after previously serving as the bank’s founder and…

The Independent National Electoral Commission (INEC) has said that it had concluded major preparations for the conduct of the June 20, 2026 governorship election in Ekiti State, assuring residents and stakeholders of a credible, transparent and inclusive electoral process. The Resident Electoral Commissioner (REC) in the state, Bunmi Omoseyindemi, disclosed this in Ado Ekiti while briefing journalists and stakeholders on the level of preparedness of the commission. He said the commission was strictly adhering to its election timetable and had put in place necessary measures to ensure a smooth and hitch-free exercise. According to him, the finalisation of the voter…

Elegbede Abiodun • Initiative was driven by the need for more precise, transparent and efficient regulation in a fast-growing economy.  Lagos State Signage and Advertisement Agency (LASAA) has launched a digital directory for practitioners and billboard assets, alongside the LASAA One App, to simplify advertising services in the state. Speaking at the launch in Lagos, the Managing Director, Prince Fatiu Akiolu, said the initiative provides a digital backbone for the growing out-of-home (OOH) advertising sector. “For years, the OOH landscape has grown in scale and complexity. What we introduce today is a digital backbone that brings structure to that growth,”…

Dangote Cement Plc has recorded a strong performance in the first quarter of 2026, growing its cement and clinker exports from Nigeria by 71.6 per cent, as the Group’s total installed production capacity reached 55 million tonnes per annum (MTA) across Africa. During the period under review, the company completed 10 clinker shipments from Nigeria to neighbouring markets, further consolidating its position as Africa’s leading cement exporter. According to the company’s unaudited Q1 2026 financial results, total sales volumes increased by 13.8 per cent year-on-year, driven by growth of 11.5 per cent in Nigeria and 19.5 per cent across its…

Wema Bank Plc has restated its commitment to deepening customer engagement as it celebrates the ninth anniversary of its digital banking platform, ALAT. The bank, in a statement, said the milestone underscores its continued drive to enhance user experience and expand access to innovative financial services through digital channels. Launched in 2017 as Africa’s first fully digital bank, ALAT was designed to address challenges associated with conventional banking by providing a seamless platform for account opening, transactions and financial management without the need for physical interaction. Wema Bank noted that over the years, the platform has evolved into a robust…

Zenith Bank Plc has announced its unaudited results for the first quarter ended 31st March 2026, with a 6% growth in Gross Earnings, from N950 billion reported in Q1 2025 to N1.01 trillion in Q1 2026. This is despite the challenging operating environment and tightening monetary policy stance. From the unaudited statement of account submitted to the Nigerian Exchange (NGX) on Thursday, 30th April 2026, this growth was driven by increase in interest income and non-interest income. The increase in interest income was primarily due to the expansion of the Bank’s risk asset portfolio, supported by disciplined, risk adjusted pricing.…

Nigeria’s leading digital payments platform, OPay, is taking a major step toward global expansion as it prepares for a potential United States listing targeting a valuation of about $4 billion. To drive the planned Initial Public Offering (IPO), OPay has appointed global financial heavyweights including Citigroup, Deutsche Bank, and JPMorgan Chase as lead advisers. While the listing could happen later in 2026, timelines and deal size are still subject to market conditions. The move represents a significant leap from OPay’s last major funding round in 2021, when the company raised $400 million at a $2 billion valuation. Achieving the new…

Aims to ease Lagos congestion and support the growing population.  The Lagos Metropolitan Area Transport Authority has unveiled an ambitious long-term mobility strategy aimed at transforming transportation across the state, marking a decisive shift from road expansion to a fully integrated mass transit system under its updated Strategic Transport and Mobility Master Plan projected through 2050. At a high-level stakeholders’ workshop supported by the French Development Agency, the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, said reliance on road construction alone is no longer sufficient to tackle the city’s mounting congestion challenges. The LAMATA 2050 transport master plan outlines a…

Manny Ita – NNPC Limited has signed a Memorandum of Understanding with two Chinese firms to support the rehabilitation and expansion of the Warri and Port Harcourt refineries in a renewed effort to restore Nigeria’s refining capacity. The agreement was signed in Jiaxing City, China, involving NNPC’s Group Chief Executive Officer, Bashir Bayo Ojulari, alongside representatives of Sanjiang Chemical Company and Xinganchen Industrial Park. The partnership is aimed at completing outstanding rehabilitation work at the refineries while also managing their future operations and maintenance. It also includes plans to improve efficiency, raise product quality, and boost overall profitability. Beyond refining,…

Elegbede Abiodun * Says conferment serves as an inspiration to do more for the Nupe Kingdom.  Nigeria’s First Lady, Oluremi Tinubu, has been honoured with the traditional title ‘Soniyako Nupe’ by the Etsu Nupe, Yahaya Abubakar, in Bida. The recognition celebrates her contributions to national development, unity, and humanitarian service. Speaking at the ceremony, the Etsu Nupe described President Bola Tinubu as a friend of the Nupe Kingdom and assured him of continued support and prayers for the success of his administration’s policies and programmes. In her response, Mrs Tinubu expressed appreciation for the honour and pledged her continued support…