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Zenith Bank’s H1 2023 Financial Report Reveals Impressive Triple-Digit Growth

Zenith Bank’s H1 2023 Financial Report Reveals Impressive Triple-Digit Growth....KINDLY READ THE FULL STORY HERE▶
In its recently disclosed audited results for the first half of 2023, Zenith Bank Plc has showcased remarkable resilience and market dominance, achieving an astonishing 139% surge in gross earnings from N404.8 billion in H1 2022 to N967.3 billion in H1 2023. This growth comes amid challenging macroeconomic conditions and ongoing headwinds.
The bank’s audited half-year financial results, presented on September 11, 2023, to the Nigerian Exchange (NGX), unveiled not only a triple-digit increase in gross earnings but also an impressive 169% Year-on-Year (YoY) boost in profit before tax, rising from N130 billion in H1 2022 to N350.4 billion in H1 2023. Profit after tax also experienced triple-digit growth, surging by 162% from N111.4 billion to N291.7 billion during the same period.
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The surge in gross earnings was attributed to both interest income and non-interest income, with interest income growing by 72% from N241.7 billion in H1 2022 to N415.4 billion in H1 2023. Meanwhile, non-interest income witnessed an impressive 246% growth, rising from N149 billion to N515.7 billion. The growth in interest income was influenced by the expansion and repricing of risk assets, while the liberalization of the foreign exchange market contributed significantly to the growth in non-interest income through revaluation gains.
The bank’s efficiency also improved, with the cost-to-income ratio decreasing from 58% to 38.5% in the current period, driven by enhanced income. However, the cost of risk increased from 1.4% to 8.8%, and the cost of funding grew from 1.4% in H1 2022 to 2.6% in H1 2023 due to rising interest rates. Interest expenses rose from N57 billion in H1 2022 to N153.6 billion in H1 2023.
Total assets witnessed a 31% growth, expanding from N12.3 trillion to N16.0 trillion by December 2022, primarily driven by the growth in customer deposits and currency devaluation. Customer deposits increased by 30% from N9.0 trillion in December 2022 to N11.6 trillion in June 2023. Loans and advances also grew by 32%, rising from N4.12 trillion in December 2022 to N5.38 trillion in June 2023, partly due to the revaluation of foreign currency-denominated loans and growth in local currency loans. Despite a challenging macroeconomic environment, the non-performing loans ratio improved from 4.3% to 3.9% in December 2022, attributed to the currency mix of risk assets. Additionally, the capital adequacy ratio increased from 19.8% to 22.0%, while the liquidity ratio decreased from 75% to 61% in the current period, both remaining comfortably above regulatory thresholds.
Zenith Bank’s transition into a holding company structure has advanced as it adds new verticals to its business and expands into new markets. The bank remains proactive in adapting to changes in fiscal and monetary environments to sustain growth across all business segments and markets.
Zenith Bank’s consistent outstanding performance continues to earn it numerous awards and recognitions, reaffirming its position as a leading financial institution in Nigeria and beyond.
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Ganduje Hits Back at Galadima, Labels Him a “Failed Politician”

The National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje, has sharply responded to Alhaji Buba Galadima’s recent criticism questioning his political influence. In a direct rebuttal, Chief Oliver Okpala, Ganduje’s Senior Special Assistant on Public Enlightenment, strongly defended his boss and condemned Galadima as a “failed, rejected, and frustrated politician.”....KINDLY READ THE FULL STORY HERE▶
Okpala accused Galadima of lacking political credibility and highlighted his inconsistent career, referencing Galadima’s failed attempts with the Buhari Organization, which failed to secure electoral victories. He also pointed out that Ganduje’s political record, particularly his two terms as the Governor of Kano State, speaks for itself, with ongoing projects and a deep connection to the people.
Okpala dismissed Galadima’s political relevance, stressing that the internal struggles within the New Nigeria Peoples Party (NNPP) reflected poorly on him. In contrast, he emphasized that Ganduje’s leadership has maintained stability and influence within the APC.
Despite the criticism, Okpala affirmed that Ganduje remains unfazed by Galadima’s attacks, continuing his work with a solid support base within the APC and among Nigerians.
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FG Rakes in ₦6 Billion from Mining Fees in Q1 2025, Registers 118 New Buying Centers

The Federal Government of Nigeria has announced that it generated a total of ₦6.96 billion in mining-related fees during the first quarter of 2025. This was revealed by the Minister of Solid Minerals Development, Dele Alake, in a statement released on Monday.....KINDLY READ THE FULL STORY HERE▶
The report also noted that 118 new private mineral buying centers were registered within the same period, signifying increasing investor interest and participation in the sector.
In Q1 2025, the Mining Cadastral Office (MCO) received 955 applications for mining titles. These included 651 applications for exploration licenses, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits. Out of these, 867 licenses were approved — comprising 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and 5 mining leases.
Minister Alake emphasized that these developments reflect the government’s commitment to revitalizing the mining sector and attracting both local and international investors. He also reiterated plans to halt the export of raw minerals without processing them locally.
He further disclosed progress on the creation of the Nigerian Solid Minerals Corporation, a new government-backed entity that aims to elevate Nigeria’s mining industry onto the global stage. This initiative is being developed in partnership with the Ministry of Finance Incorporated (MOFI) and is expected to open investment opportunities for ordinary Nigerians through a public offering.
Highlighting international collaborations, Alake noted that the French government has committed to equipping the laboratory of the Nigerian Geological Survey Agency (NGSA) and training young Nigerian geologists. Western Australia has also approved a training program for Nigerian mining professionals, while investments from the UK, Saudi Arabia, and South Africa continue to expand the mineral value chain.
Additionally, Nigeria has assumed leadership of the newly-formed African Minerals Strategy Group (AMSG), which seeks to promote local beneficiation across the continent and reduce the export of unprocessed minerals.
Alake concluded by affirming the government’s dedication to policies that add value to the mining sector and make Nigeria a key player in Africa’s mineral development agenda.
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“I Was Reluctant to Become VP” – Goodluck Jonathan Reveals Why He Initially Declined National Role

Former Nigerian President Goodluck Jonathan has disclosed that he was initially hesitant to accept the position of Vice President, citing a deep personal commitment to both humanity and divine service.....KINDLY READ THE FULL STORY HERE▶
Jonathan, speaking at a reception held in Abuja by “Friends of Dr. Goodluck Jonathan” to celebrate his receipt of the 2025 Sunhak Global Peace Prize, explained that his upbringing in a modest environment profoundly influenced his empathy and resolve to pursue peace.
He noted that his reluctance to step into national leadership stemmed from a desire to focus on making tangible changes in his home state of Bayelsa. “Bayelsa is a small state. I thought I should stay back and see what impact I could make there,” he recalled. “But here I am today.”
He emphasized that his commitment to peace and humanity remains the central way he expresses his faith and serves God. “I believe the only way I can serve God is by serving mankind,” he said. “That commitment will continue for the rest of my life.”
Jonathan expressed gratitude to the organisers of the peace award, stating he was humbled and surprised by the recognition. He also thanked the event’s attendees and those who spoke kind words about his legacy.
Despite initially declining the reception in his honour, he acknowledged the overwhelming support and reaffirmed his dedication to peacebuilding efforts globally.
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