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Kebbi Government Approves ₦4.05 Billion for Rehabilitation of Seven General Hospitals

  • dollaers
  • October 16, 2025
  • Finance
  • 0 comments

The Kebbi State Government has approved ₦4.05 billion for the rehabilitation of seven General Hospitals across the state as part of its ongoing effort to strengthen healthcare delivery and upgrade medical infrastructure.

The decision was announced by the State Attorney-General and Commissioner for Justice, Alhaji Junaidu Marshall, following a State Executive Council meeting chaired by Governor Nasir Idris in Birnin Kebbi, according to the News Agency of Nigeria (NAN).

Marshall listed the benefiting hospitals as those located in Kambaza, Suru, Kamba, Dirin-Daji, Kangiwa, Koko, and Yauri, noting that the projects reflect the administration’s goal of modernizing all general hospitals across the state.

“The approval underscores the state government’s commitment to improving healthcare delivery and ensuring hospitals are adequately equipped to serve the people,” Marshall said.

He added that the current administration has already rehabilitated 16 general hospitals, including Argungu General Hospital, which is now equipped with modern facilities. Other hospitals in Zaga, Zuru, Bunza, Gulma, Bena, Jega, Shanga, and Sir Yahaya Memorial Hospital in Birnin Kebbi have also undergone or are undergoing similar upgrades.

According to Marshall, Governor Idris has pledged to rehabilitate and equip all 30 general hospitals in Kebbi State before the end of his tenure.


Broader Development Initiatives

In addition to the hospital projects, the council approved several complementary initiatives aimed at strengthening healthcare and socio-economic development across the state:

  • ₦570 million was allocated to the Kebbi Contributory Healthcare Management Agency (KECHEMA) to register 45,000 vulnerable persons under the State Social Register. Each of the 225 wards will enroll at least 200 individuals for affordable healthcare access.

  • The state also provided counterpart funding for the World Bank IMPACT project, which covers the rehabilitation of 73 primary healthcare centres and upgrades for an additional 42 centres.

  • To improve access to essential medicines, ₦407.5 million was approved as a take-off grant for the Kebbi State Drugs, Medical and Consumables Agency.

Outside the health sector, the council also endorsed:

  • ₦3 billion for the procurement of 2,000 power tillers under the Kaura Development Agenda (KADAGE) to promote mechanized farming.

  • ₦1.4 billion for school furniture procurement across various educational institutions.

  • ₦900 million as a take-off grant for the newly established Kebbi State Bureau of Statistics, with Prof. Umar Usman appointed as the Statistician-General.

Anambra Tops List of Nigeria’s Most Affordable States in September 2025

  • dollaers
  • October 16, 2025
  • Finance
  • 0 comments

In September 2025, Anambra State displaced Zamfara to become the most affordable state in Nigeria, recording a headline inflation rate of 9.3%, according to data compiled by Nairametrics. This figure marked a sharp decline from 14.2% in August 2025.

A breakdown of the top 10 most affordable states reveals persistent contrasts across the country:

Rank State Inflation Rate Notes
1 Anambra 9.3% Falls in food and non-food costs contributed to improved affordability
2 Niger ~11.8% Strong performance on core inflation
3 Bauchi ~12.4% One of few northern states in top tier
4 Enugu ~12.4% Slower non-food inflation aided moderation
5 Sokoto ~14.0% Slight dip in food inflation helped
6 Bayelsa ~14.8% Buffer from fuel subsidy support
7 Ebonyi ~14.8% Infrastructure improvements eased costs
8 Imo ~15.8% Slight moderation in housing component
9 Akwa Ibom ~16.3% Energy and transport pressures keep it higher
10 Jigawa ~16.3% Tight agricultural markets weigh

The ranking is based on year-on-year changes in prices of essential goods and services — states with lower inflation are generally easier to live in from a cost-of-living perspective.

What’s Driving the Shift?

  • Digital payments in Anambra’s markets, especially Onitsha Main Market, have cut transaction costs for non-food items.

  • The state also invested in boreholes in rural LGAs, helping reduce household water expenses.

  • In contrast, states with higher inflation are still grappling with elevated energy, transport, and food costs.

Context & National Picture

National headline inflation eased to 18.02% in September 2025, continuing a downward trend that began in early 2025. While many states are seeing relief, others remain under pressure from structural cost factors.

During the December 2024 holiday season, Lagos alone generated an estimated US$71.6 million in tourism revenue — with hotels contributing roughly $44 million and short-term rentals adding about $13 million.

At the national level, over 1.2 million international arrivals and 3 million domestic trips were recorded in 2023, up 20% from prior years. The tourism sector contributed 3.65% of GDP and supported 1.9 million jobs.

Lagos State officials say they will continue using the Lagos State Tourism Master Plan (2020–2040) as a roadmap for growth, with the aim of boosting total tourism earnings to $5.1 billion by 2040.

Blockchain.com Chooses Nigeria as Its African Headquarters, Pursues SEC License to Deepen Crypto Operations

  • dollaers
  • October 16, 2025
  • Cryptocurrency
  • 0 comments

Global cryptocurrency platform Blockchain.com has officially selected Nigeria as its operational hub for Africa and announced plans to secure a crypto exchange license from the Nigerian Securities and Exchange Commission (SEC). This move underscores Nigeria’s growing influence in the global digital asset landscape and its potential as a key player in Africa’s blockchain economy.

Why Nigeria?

In an exclusive interview with Nairametrics, Michael Emeeka, Blockchain.com’s Country Head for Nigeria, explained that the company’s decision to establish its African base in Nigeria was driven by the country’s large population, high level of digital adoption, and vibrant cryptocurrency culture.

“We have over 80 million crypto wallets on Blockchain.com globally, and a substantial portion of that comes from Africa. Nigeria alone contributes a significant share,” Emeeka said.

He noted that Nigeria ranks first in Africa and second globally—behind India—in terms of cryptocurrency adoption, reflecting the nation’s dynamic and tech-savvy youth population.

Focus on Regulation and Compliance

Emeeka emphasized that Blockchain.com’s top priority is obtaining regulatory approval from the SEC and ensuring that its operations comply with both local and international standards.

The company, which already holds multiple licenses across other global jurisdictions, is actively engaging with key Nigerian financial institutions such as the Central Bank of Nigeria (CBN), the Nigeria Inter-Bank Settlement System (NIBSS), and the National Institute of Credit Administration (NICA).

“We are not just focused on crypto trading,” Emeeka said. “Our goal is to bring practical use cases to Nigeria—such as remittances, digital payments, and business transactions—where crypto can deliver real value to consumers and small enterprises.”

He added that Blockchain.com aims to build trust with Nigerian users, invest in local talent, and educate the market about responsible crypto adoption.

Aligning With Nigeria’s Crypto Regulation

Speaking at a recent media session in Lagos, Owenize Odia, Blockchain.com’s General Manager for Africa, reaffirmed the company’s commitment to regulatory alignment and transparency.

“Nigeria is one of our most important markets. Compliance is at the heart of our business model,” Odia said. “We have applied for a license from the SEC because we believe in working hand-in-hand with regulators to create a safe and trusted crypto ecosystem.”

Serena Braide, the company’s Compliance Officer for Nigeria, also highlighted Blockchain.com’s adherence to global financial integrity standards, including Know-Your-Customer (KYC) processes, sanctions screening, and transaction monitoring.

“We welcome regulatory scrutiny—it helps build public confidence and ensures long-term sustainability,” she noted.

Nigeria’s Evolving Regulatory Landscape

Blockchain.com’s entry into Nigeria’s crypto market comes amid increasing regulatory clarity from the SEC. In 2024, the Commission granted Approval-in-Principle to two local exchanges—Quidax and Busha—under its Accelerated Regulatory Incubation Program (ARIP), marking a major milestone in Nigeria’s journey toward formal crypto regulation.

The SEC has stated that other applications are currently under review, with additional approvals to be granted on a case-by-case basis once firms meet all compliance requirements.

A Step Toward Mainstream Crypto Adoption

By choosing Nigeria as its African base, Blockchain.com joins a growing list of global fintech and crypto firms betting on the country’s youthful population and strong appetite for digital assets.

Industry observers say this development could boost investor confidence, create job opportunities, and accelerate Nigeria’s integration into the global blockchain economy.

As Blockchain.com seeks to formalize its presence through regulatory approval, its focus on education, transparency, and local collaboration positions it as a potential leader in Africa’s next wave of crypto innovation.

Local Innovation, Global Impact: How IHS Nigeria is Powering Africa’s Tech Future

  • dollaers
  • October 15, 2025
  • Fintech
  • 0 comments

IHS Nigeria, a subsidiary of IHS Towers, is at the forefront of Nigeria’s digital transformation — not just through infrastructure investments but by actively cultivating the next generation of African tech talent and startups.

With over 16,000 telecommunications towers and 15,000 kilometres of fibre-optic cable across the country, the company is laying the groundwork for nationwide digital inclusion while simultaneously investing in human capital through a growing network of innovation hubs.

Driving Innovation Through Infrastructure

IHS Nigeria’s infrastructure supports connectivity from urban Lagos to rural Northern Nigeria — forming the backbone of the country’s digital economy. Beyond that, the company is transforming physical spaces into thriving innovation ecosystems designed to inspire creativity and entrepreneurship.

The Ilorin Innovation Hub, launched in partnership with Co-Creation Hub (CcHub) and Future Africa, is one of West Africa’s largest tech hubs. It provides co-working spaces, startup incubation, mentorship, and access to funding — a full ecosystem designed to turn ideas into thriving businesses.

Similarly, IHS Nigeria supported the reconstruction of the Kano Digital Industrial Park — originally vandalised during the 2024 protests — in collaboration with the Nigerian Communications Commission (NCC). The park now serves as a centre for digital learning and innovation in Northern Nigeria.

Additional hubs are underway, including one in Maiduguri, Borno State, while others in Lagos, Oyo, and Ogbomosho already serve as centres for innovation in energy, environment, and tech education. Each hub provides not just space but access to tools, training, and mentorship that empower local communities to participate in Nigeria’s expanding digital economy.

Partnerships That Empower

IHS Nigeria’s impact extends beyond infrastructure — through strategic partnerships with UNICEF, the Federal Ministry of Communications, Innovation and Digital Economy, the Lagos Chamber of Commerce and Industry (LCCI), and the NCC.

Through its collaboration with UNICEF Nigeria, the company has provided internet connectivity and digital learning tools to over 800 schools in 17 states. This initiative connects learners and teachers to the Nigeria Learning Passport, an e-learning platform developed by UNICEF and the Federal Ministry of Education, now reaching 1.7 million users nationwide.

These partnerships reflect IHS Nigeria’s long-term vision to build an inclusive and digitally literate society while promoting sustainable economic growth through technology and education.

Investing in People and Skills

IHS Nigeria is also a strong supporter of the Federal Government’s Three Million Technical Talent (3MTT) initiative, which has trained 140,000 Nigerians in digital skills and facilitated 7,500 full-time jobs and 30,000 entrepreneurial opportunities to date.

The company’s Women in Tech and Green Jobs (WITG) programme further promotes gender equality in STEM. In 2024, it trained and certified 65 young women in tech and engineering, providing pathways to careers in innovation-driven industries.

Since 2023, IHS Nigeria has helped train over 5,700 individuals through collaborations with organisations like STEM4DEV Project, KAD-ICT Hub, 9ijakids, and the Limitless Space Institute. Its support for events such as the STEM Africa Fest underscores its belief that early exposure to science and technology can ignite curiosity and lifelong innovation.

Teachers in states like Jigawa, Kwara, Abia, and Osun have also benefited from the company’s digital literacy initiatives, with training and donated internet routers improving classroom learning experiences.

Building the Future

As Nigeria strengthens its position as a major technology hub in Africa, IHS Nigeria’s innovation hubs and partnerships are cultivating the environment needed for startups to thrive, jobs to be created, and ideas to scale globally.

By combining physical infrastructure with human capital development, IHS Nigeria is not only supporting connectivity but also building the foundation for Africa’s digital future — one innovation hub, one trained youth, and one empowered community at a time.

Kenya’s Former Prime Minister Raila Odinga Dies at 80

  • dollaers
  • October 15, 2025
  • Business
  • 0 comments

Kenya is mourning the death of Raila Odinga, the country’s former Prime Minister and longtime opposition leader, who passed away at the age of 80. His death marks the end of one of the most remarkable and influential political careers in Kenya’s history.

According to Reuters, Odinga died while receiving treatment at an Ayurvedic medical centre in India, where he had been undergoing care in recent weeks.

A Lifelong Struggle for Democracy

Over his five-decade career, Odinga became synonymous with Kenya’s fight for democracy and political reform. Though he ran for president five times without success, his campaigns reshaped the nation’s political landscape. Two of those elections — particularly in 2007 and 2017 — led to intense political crises and deadly violence, underlining his central role in Kenya’s turbulent democratic evolution.

Despite never reaching the presidency, Odinga’s legacy as a reformer, activist, and opposition stalwart remains undeniable. He was instrumental in achieving two of Kenya’s most significant democratic milestones — the legalisation of multiparty politics in 1991 and the adoption of a new constitution in 2010, both of which transformed Kenya’s governance system.

A Polarising but Respected Leader

Odinga’s activism and leadership were not without controversy. Following the disputed 2007 presidential election, he led nationwide protests that escalated into the worst violence seen in Kenya since independence — a conflict that left over 1,300 people dead and displaced hundreds of thousands.

Yet, through these moments of upheaval, Odinga emerged as a symbol of resilience, often calling for peace, justice, and accountability. He was known for his fiery rhetoric against corruption and inequality, positioning himself as a voice for Kenya’s marginalized communities and an unwavering advocate for democratic ideals.

Outpouring of Tributes

News of Odinga’s death has prompted an outpouring of grief across Kenya and beyond. Political leaders, former rivals, and global figures have expressed condolences, acknowledging his enduring impact on African democracy. Many have described him as a patriot and mentor whose influence extended far beyond politics.

Early Life and Education

Born on January 7, 1945, in Maseno, Kisumu District, Raila Amolo Odinga was the son of Jaramogi Oginga Odinga, Kenya’s first vice president, and Mary Juma Odinga.

A member of the Luo ethnic group, Odinga pursued his studies in East Germany, attending the Herder Institute and later the Technische Hochschule in Magdeburg, where he earned a certificate in welding in 1970.

Upon returning to Kenya, he founded a company that manufactured liquid petroleum gas cylinders and later joined the Kenya Bureau of Standards, where he rose to become Deputy Director.

Political Journey

Odinga entered politics during Kenya’s one-party era and was detained multiple times for his involvement in pro-democracy movements, particularly after the 1982 coup attempt. His fearlessness earned him nicknames such as “Agwambo” (the mysterious one) and “Jakom” (the chairman).

He joined FORD-Kenya in the 1990s and later helped form the National Rainbow Coalition (NARC), which successfully brought Mwai Kibaki to power in 2002. In subsequent years, he founded the Orange Democratic Movement (ODM), which became one of Kenya’s most powerful opposition parties.

In 2018, Odinga made global headlines after his “handshake” with then-President Uhuru Kenyatta, a reconciliation gesture that ended years of political division and gave rise to the Building Bridges Initiative (BBI).

He later served as the African Union High Representative for Infrastructure Development, continuing his advocacy for pan-African cooperation and economic progress.

A Lasting Legacy

Though Raila Odinga never attained the presidency, his imprint on Kenya’s political identity is profound. He is remembered as a revolutionary democrat, a relentless reformer, and a unifying figure whose vision helped shape modern Kenya.

His passing leaves a significant void in Kenyan politics, especially within the opposition, where he inspired and mentored an entire generation of leaders committed to justice, transparency, and reform.

Raila Odinga’s life was defined by resilience, conviction, and a lifelong belief that Kenya could always be better — freer, fairer, and more democratic.

MacKenzie Scott Reduces Amazon Stake by $12.6 Billion as Philanthropic Giving Continues

  • dollaers
  • October 15, 2025
  • Uncategorized
  • 0 comments

Billionaire philanthropist MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, has significantly reduced her holdings in Amazon.com Inc., cutting her stake by 42% over the past year.

According to a regulatory filing dated September 30, 2025, Scott now owns 81.1 million Amazon shares, down from 139 million shares the previous year. Based on Amazon’s closing price on Tuesday, the decrease is valued at approximately $12.6 billion.

Massive Share Reduction Linked to Philanthropy

Scott’s reduction in Amazon shares continues her long-standing pattern of using her wealth to fund charitable causes. At 55 years old, she has become one of the world’s most generous donors, often making large, unrestricted donations to nonprofit organisations.

In 2024, she gave $2 billion to 199 organisations, according to her Yield Giving platform. Over the past five years, her total philanthropic donations have reached $19.25 billion, making her one of the most active philanthropists globally.

While the filing did not specify whether her reduced stake came from stock sales or gifts, analysts suggest the move aligns with her ongoing strategy of redirecting wealth toward social impact initiatives. Requests for comment from Scott or her representatives were not immediately returned.

Background: Divorce and Wealth Management

Scott’s Amazon holdings trace back to her 2019 divorce from Jeff Bezos, where she received roughly 4% of Amazon’s shares as part of the settlement. Despite the transfer, Bezos retained voting control over those shares and remains responsible for disclosing them annually.

Even with her active giving, Scott’s net worth remains substantial. According to the Bloomberg Billionaires Index, her fortune was valued at $41.2 billion before the latest share reduction. The appreciation of Amazon’s stock over the years has helped offset her large-scale donations.

A Record of Consistent Giving

Scott’s charitable journey has been marked by a steady stream of large donations:

  • November 2024: She sold $8 billion worth of Amazon shares to support charities across the United States.

  • 2023: She divested about $10 billion in shares and gave $12 million to Howard University College of Medicine.

  • March 2022: She donated $436 million to Habitat for Humanity, supporting affordable housing projects worldwide.

At one point, Scott’s net worth reportedly surged by $10.5 billion, according to Forbes, thanks to Amazon’s rising market value — even as she continued her giving spree.

A Distinct Approach to Philanthropy

Unlike many billionaire philanthropists who launch foundations or impose strict reporting standards, Scott’s approach is unique. She focuses on direct, trust-based giving, allowing nonprofits greater freedom to use funds as they see fit.

Experts say her model has influenced global discussions about efficient, high-impact philanthropy, particularly for small and mid-sized organisations often overlooked by traditional donors.

Impact on Amazon and Beyond

Scott’s $12.6 billion reduction represents one of the largest single-year decreases among Amazon’s major shareholders. Despite her divestment, her remaining holdings still represent a massive personal fortune, buoyed by Amazon’s continued stock market gains.

Her actions underscore a dual focus — sustaining wealth through strategic asset management while driving large-scale social change through philanthropy.

With her ongoing commitment to giving, MacKenzie Scott continues to redefine what billionaire philanthropy looks like in the modern era — one rooted in generosity, trust, and impact rather than publicity.

Lagos Records Rise in International Tourists as State Pushes for $5.1 Billion Tourism Goal by 2040

  • dollaers
  • October 15, 2025
  • Finance
  • 0 comments

The Lagos State Government has announced a steady increase in international tourist arrivals, recording 18,273 visitors in 2024, compared to 16,798 in 2023 and 14,357 in 2022.

The figures were disclosed during a Public Policy Engagement Session held in Ikeja and organized by the Policy Analysis, Monitoring and Evaluation Department under the Cabinet Office. The session brought together key ministries, departments, and agencies in the entertainment and tourism sectors to assess the state’s progress toward achieving its tourism development targets.

Lagos Aims for $5.1 Billion in Tourism Revenue by 2040

The Lagos State Government reiterated its long-term goal of increasing tourism receipts to $5.1 billion by 2040, as contained in the Lagos State Tourism Master Plan (2020–2040).

The Secretary to the State Government (SSG), Bimbola Salu-Hundeyin, represented by Kehinde Gbajumo, the Permanent Secretary in the Cabinet Office, explained that the engagement was aimed at reviewing progress in the implementation of the state’s entertainment and tourism policies.

She said Lagos continues to focus on positioning itself as West Africa’s premier tourism and entertainment destination, leveraging the state’s creative industries, cultural heritage, and hospitality sector to attract more visitors each year.

Growth Linked to Strategic Policy and Destination Marketing

According to Oladele Oyatope, Head of the Policy Analysis, Monitoring and Evaluation Department, discussions at the session centered on the fifth pillar of the T.H.E.M.E.S Plus Agenda, which emphasizes entertainment and tourism.

Oyatope noted that the Lagos State Tourism Master Plan and Policy Document remain critical tools for assessing performance in the sector. These frameworks set measurable goals for visitor numbers, revenue growth, and overall impact on the state economy.

He added that Lagos must intensify branding, advocacy, and destination marketing to boost international awareness and strengthen its tourism identity on the global stage.

“Our department’s role is to collect and analyse data across all tourism and creative sectors to evaluate how government initiatives are performing,” he said. “This helps ensure that policies are driving real impact, from cultural promotion to creative industry development.”

Economic Impact of Tourism in Lagos

The state’s rising tourist figures reflect the broader momentum within Nigeria’s tourism sector. According to the Lagos State Detty December 2024/2025 Report, the December 2024 festive period alone generated an estimated $71.6 million in tourism-related revenue.

Of this, hotels contributed about $44 million, while short-let apartments generated around $13 million. The report attributed the spending boom to the surge in visitors attending year-end cultural and entertainment events across the city.

Nigeria’s Wider Tourism Landscape

At the national level, Nigeria recorded over 1.2 million international visitors and three million domestic trips in 2023, a 20% increase from the previous year. The tourism sector contributed 3.65% (approximately $17.3 billion) to the nation’s GDP in 2022, supporting about 1.9 million jobs.

Experts credit the growth to improved domestic air travel, youth-driven tourism startups, and increasing digital engagement promoting local destinations.

As Lagos continues to drive its master plan, the government says it remains committed to turning the state into a vibrant, globally recognized tourism hub that combines entertainment, culture, and innovation to power sustainable economic growth.

EFCC Arraigns Lagos Businessman for Allegedly Stealing ₦215 Million Through Bank Server Breach

  • dollaers
  • October 15, 2025
  • Bank, Finance
  • 0 comments

The Economic and Financial Crimes Commission (EFCC) has arraigned Ugoh Christogonus Onyewuchi, a Lagos-based businessman, and his company, C-PAC Integrated Service Nigeria, for allegedly stealing over ₦215.8 million through an unauthorized breach of a commercial bank’s server.

The defendants appeared before Justice Olubunmi Abike-Fadipe of the Special Offences Court, Ikeja, Lagos, on Monday, October 13, 2025, following their arraignment by the Lagos Zonal Directorate 1 of the EFCC on a two-count charge bordering on stealing and retention of proceeds of criminal conduct.

Details of the Allegation

According to the EFCC, Onyewuchi allegedly retained control of ₦215,800,000, part of a larger ₦8.5 billion sum reportedly stolen from customer accounts domiciled in a commercial bank. The funds were allegedly diverted through unauthorized access to the bank’s computer systems and servers and subsequently transferred into the account of C-PAC Integrated Service Nigeria.

The Charges

Count One:

That you, Ugoh Christogonus Onyewuchi and C-PAC Integrated Service Nigeria, sometime in 2025 in Lagos, retained control of the sum of ₦215,800,000, which formed part of ₦8,568,090,500 stolen from accounts domiciled with a commercial bank through unauthorized access to its computers and servers, and paid into your account (No. 5080158271) with the account name C-PAC Integrated Service Nigeria.

Count Two:

That you, Ugoh Christogonus Onyewuchi and C-PAC Integrated Service Nigeria, sometime in 2025 in Lagos, dishonestly converted to your own use the sum of ₦215,800,000, which formed part of the same ₦8.5 billion stolen through unauthorized access to a bank’s computer systems and transferred into your company account.

Court Proceedings

Upon reading the charges, Onyewuchi pleaded not guilty.
The prosecution counsel, M.K. Bashir, requested that the court set a trial date and order the defendant’s remand in a correctional facility pending trial.

However, the defence counsel, G.D. Innocent, appealed to the court to allow his client to continue enjoying the bail earlier granted by Justice I.O. Idowu during the court’s vacation session.

After considering the submissions, Justice Abike-Fadipe upheld the defence’s request, ordering that the defendant remain in custody pending the perfection of his bail conditions.

The case was adjourned to December 17 and 18, 2025, for commencement of trial.

Zenith Bank Strengthens 2025 Outlook with ₦51.3 Billion Interim Dividend

  • dollaers
  • October 14, 2025
  • Bank
  • 0 comments

Zenith Bank Plc has once again demonstrated its financial strength and leadership in Nigeria’s banking industry by paying an impressive ₦51.3 billion interim dividend for the first half (H1) of 2025 — a 60% increase from the ₦31.4 billion distributed in the same period of 2024. The payout, equivalent to ₦1.25 per share, signals a strong full-year performance outlook and reinforces the bank’s reputation for consistent shareholder returns.

Strong Financial Growth in H1 2025

The interim dividend follows the release of Zenith Bank’s audited financial results for the half year ended June 30, 2025. The report highlights a solid growth trajectory, with gross earnings rising by 20% year-on-year, from ₦2.1 trillion in H1 2024 to ₦2.5 trillion in H1 2025.

A major contributor to this performance was interest income, which surged by 60% — from ₦1.1 trillion to ₦1.8 trillion — driven by the bank’s strategic repricing of risk assets and effective treasury management.

Total assets grew steadily to ₦31 trillion in June 2025, compared to ₦30 trillion in December 2024, supported by a solid balance sheet and prudent risk management. Customer deposits also rose by 7%, reaching ₦23 trillion, reflecting continued confidence in the Zenith brand.

Commitment to Shareholder Value

Speaking on the dividend payout, Group Managing Director/CEO Dame Dr. Adaora Umeoji, OON, expressed optimism about the bank’s prospects for the rest of the year.

“Our half-year results underscore our resilience and commitment to our stakeholders. Based on the momentum achieved in H1, we are confident in our full-year outlook and expect to exceed shareholders’ expectations by year end,” she said.

The 2025 interim dividend not only highlights Zenith Bank’s profitability but also its consistent ability to generate value for investors despite Nigeria’s challenging macroeconomic environment.

Sustained Industry Leadership

Zenith Bank’s exceptional financial results continue to position it as one of the most dominant and trusted institutions in Nigeria’s banking sector. Its commitment to governance, sustainability, and innovation has earned the bank numerous local and international recognitions over the years.

In 2025 alone, Zenith Bank was named Nigeria’s Number One Bank by Tier-1 Capital for the 16th consecutive year in The Banker’s Top 1000 World Banks Ranking. The bank also received “Nigeria’s Best Bank” award at the Euromoney Awards for Excellence 2025.

Its list of accolades extends further, including:

  • Bank of the Year (Nigeria) – The Banker’s Bank of the Year Awards (2020, 2022, 2024)

  • Best Bank in Nigeria – Global Finance World’s Best Banks Awards (2020–2022, 2024, 2025)

  • Best Bank for Digital Solutions – Euromoney Awards (2023)

  • Most Sustainable Bank, Nigeria – International Banker Awards (2023, 2024)

  • Best Corporate Governance Bank, Nigeria – World Finance Awards (2022–2025)

  • Most Valuable Banking Brand in Nigeria – The Banker’s Top 500 Banking Brands (2020, 2021)

Additionally, the bank has received numerous honors at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, including Bank of the Year (2023–2025) and Retail Bank of the Year (2020–2022, 2024–2025).

A Forward-Looking Outlook

Zenith Bank’s performance in the first half of 2025 reflects not just strong financial results but also strategic resilience and operational excellence. With expanding assets, increasing deposits, and robust interest income growth, the bank appears poised for another record-breaking year.

Backed by sound governance, customer trust, and a proven track record of innovation, Zenith Bank is well-positioned to sustain its leadership in Nigeria’s financial sector — delivering consistent value to shareholders and contributing to the stability of the broader economy.

How Asset Management Is Becoming More Inclusive in Nigeria

  • dollaers
  • October 14, 2025
  • Finance
  • 0 comments

For years, asset management in Nigeria was viewed as an exclusive club — accessible mainly to institutions, high-net-worth individuals, and experienced investors. Ordinary citizens, young professionals, and small business owners were often left out, deterred by high entry barriers, limited options, and low awareness.

That reality is rapidly changing. Over the past decade — and especially in recent years — the asset management industry in Nigeria has been quietly transforming. What was once niche is now mainstream. More Nigerians are gaining access to structured investments, new products are being designed for inclusivity, and technology is connecting professional fund managers with everyday savers.

This shift is significant. By opening up managed investments to more people, Nigeria is nurturing a stronger savings culture, deepening its capital markets, and creating fresh pathways for wealth building. In an economy where inflation and currency fluctuations eat into income, inclusive asset management offers not just profit, but financial stability and long-term security.

A Growing Industry

Nigeria’s asset management sector has seen remarkable growth in both size and sophistication. According to the Securities and Exchange Commission (SEC), collective investment schemes surpassed ₦2 trillion in assets under management in 2024, driven by surging interest in mutual funds, money market funds, and similar vehicles. From fewer than 50 mutual funds a decade ago, Nigeria now boasts over 150 — many attracting retail investors seeking alternatives to traditional savings.

While the pension industry remains dominant, with over ₦18 trillion in assets, retail-focused fund managers are filling a vital role. More Nigerians now see pooled investment funds as a viable hedge against inflation, allowing them to benefit from professional management of government securities, corporate bonds, and equities.

Why More Nigerians Are Investing

Several factors are fueling this retail inclusion:

1. Product innovation.
Asset managers are introducing funds tailored to smaller savers — from low-entry money market funds to systematic investment plans and dollar-based products for diaspora Nigerians. Investors can now start with as little as ₦5,000, remain liquid, and gradually build wealth.

2. Digital access.
Technology has broken traditional barriers. Through mobile apps, digital KYC, and e-wallet integrations, investors can open accounts, monitor performance, and redeem investments instantly — all from their phones.

3. Better regulation.
The SEC’s updated framework for collective investment schemes requires transparent disclosures, risk classification, and independent custodianship — giving retail investors greater confidence and protection.

4. Shifting behavior.
With inflation nearing 23% and the naira under pressure, Nigerians increasingly realize that simple savings accounts cannot preserve value. Professionally managed funds offer diversification and inflation-adjusted returns.

The Expanding Role of Asset Managers

Modern asset managers are now educators and inclusion advocates. Their work goes beyond managing portfolios — they design accessible products, teach financial literacy, and bring investment opportunities closer to ordinary Nigerians.

FSDH Asset Management, for instance, blends institutional expertise with a strong retail focus. The firm’s educational initiatives — from webinars to advisory sessions — help demystify core investment concepts like compounding and diversification. By improving financial literacy, managers like FSDH are not just building customers but cultivating informed, long-term investors.

Collective Investment Schemes: The Equalizer

Collective investment schemes remain at the heart of this inclusivity wave. These pooled vehicles allow thousands of investors to share access to professionally managed, diversified portfolios at low cost.

From under ₦300 billion in 2013 to over ₦2 trillion in 2024, the sector’s growth illustrates its appeal as Nigeria’s fastest-growing retail investment channel. Investors gain diversification, expert oversight, and affordability — benefits once reserved for large institutions.

Remaining Challenges

Despite the progress, challenges persist. Financial literacy remains low, particularly outside urban centers. Many Nigerians still distrust investment products due to past sector scandals. Regulatory compliance — especially for onboarding and anti-money laundering — can also be costly for managers handling thousands of small accounts.

Closing these gaps will require stronger collaboration among regulators, fintech innovators, asset managers, and educators. National financial literacy campaigns, streamlined digital onboarding, and continued transparency will be key to sustaining growth.

Broader Economic Impact

Inclusive asset management benefits more than just investors. By mobilizing domestic savings, it provides stable funding for government projects, corporate financing, and long-term economic development.

Increased retail participation creates a foundation for a more resilient, savings-driven economy, helping Nigeria rely less on volatile foreign inflows. For households, it means new opportunities for wealth creation, intergenerational savings, and financial independence.

The Road Ahead

The future of Nigeria’s asset management industry is increasingly inclusive, digital, and innovative. Growth over the next five years will likely come from ESG-focused funds, Shariah-compliant products, and robo-advisory platforms that automate investing. Cross-border solutions will also attract diaspora Nigerians looking to invest back home.

Partnerships with pension funds and insurers could soon deliver integrated savings-and-investment products tailored to households.

Nigeria’s asset management landscape is clearly evolving — from exclusivity to accessibility. Firms like FSDH are at the forefront, proving that professional asset management can empower everyday Nigerians, deepen capital markets, and strengthen the national economy.

Ultimately, this transformation is not just financial — it’s social. By helping millions preserve and grow their wealth, the industry is building a stronger middle class and a more stable future for all. Asset management in Nigeria is no longer for the few — it’s becoming a tool for the many, shaping prosperity that will endure for generations.

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