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BREAKING: INEC Rejects Petition To Recall Senator Natasha, Cites Failure To Meet Constitutional Requirements

The electoral body made this revelation on Thursday afternoon in a post on its official X (formerly Twitter) handle.   ArticlesRead More 

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    Godfather of Banking, Jim Ovia, Admitted to the Freedom of The City of London

    Godfather of Banking, Jim Ovia, Admitted to the Freedom of The City of London

    Nume Ekeghe

    The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, has been admitted to the prestigious Freedom of the City of London in a distinguished ceremony which held at the Mansion House, City of London on Monday, April 7, 2025. This prestigious accolade is a testament to Mr. Ovia’s exceptional contributions to the global financial landscape, unwavering commitment to fostering economic development, and dedication to philanthropic endeavours that have positively impacted countless lives.

    The Freedom of the City of London, a time-honoured tradition dating back to the 13th century, is one of the oldest surviving ceremonies in the United Kingdom. Historically, it granted freemen certain rights and privileges within the city. Today, it stands as a symbolic recognition of individuals who have made outstanding contributions to London or the wider society.  This honour places Mr. Ovia among a distinguished group of recipients, which includes notable figures from various fields such as Nelson Mandela, Bill Gates, Sir Winston Churchill, Desmond Tutu, Harry Kane, Morgan Freeman and Ian Wright.

    Commenting on his new status as a Freeman of the City of London, the distinguished honoree, Jim Ovia, CFR said “It is indeed a great honour to be admitted to the prestigious Freedom of the City of London. This is not just a recognition of my personal achievements, but also a testament to the tireless efforts of the entire Zenith team who have worked diligently to establish our institution as a leading force in global finance. I am proud to be part of a legacy that celebrates innovation, excellence and the spirit of entrepreneurship. I dedicate this to the people of Nigeria and Africa who continue to inspire me with their resilience and determination. I look forward to continuing to play a role in shaping the economic landscape of our great continent and beyond.”

    Joining the nation in congratulating Mr. Ovia, President Bola Tinubu, through a press statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, commended Mr. Ovia for being a distinguished ambassador of the nation’s private sector. He described the honour as a fitting recognition of his exceptional contributions to business, innovation, and technology, as well as for his role in shaping Nigeria’s financial landscape and strengthening economic ties between Africa and the rest of the world.  According to him, “This honour is a testament to your unwavering commitment to excellence, your pioneering role in the growth of the financial services sector in Nigeria, and your visionary leadership that continues to inspire generations. As an accomplished entrepreneur and advocate of innovation-driven development, your recognition in the City of London affirms the global relevance of Nigerian excellence and enterprise”.

    Dignitaries at the ceremony include Former President of Nigeria, Chief Olusegun Obasanjo, GCFR; Governor of Lagos State, Mr. Babajide Sanwo-olu; Governor of Delta State, Rt.Hon. (Elder) Sherrif Oborevwori; Governor of Enugu State, Dr. Peter Mbah; President of Dangote Group, Alhaji Aliko Dangote, GCON; Minister of State for Finance, Dr. Doris Uzoka-Anite; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, MFR; Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu; Oba of Oniru, Oba Abdulwasiu Lawal; Group Managing Director, TGI Group of Companies, Rahul Savara; Obi of Onitsha, Igwe Nnaemeka Alfred Achebe, CFR, and His Eminence John Cardinal Onaiyekan, who joined Zenith Bank Executives in celebrating this significant milestone.

    This well-deserved recognition rides on the back of many other prestigious awards that Mr. Ovia has received for his outstanding contributions to banking, education and philanthropy including conferment of Commander of the Federal Republic (CFR) & National Productivity Order of Merit (NPOM) Award in 2022 by the Federal Government of Nigeria. He was also named the Banker of the Year in 2007 and Titan of the year in 2024 by ThisDay Newspaper, and received the African Business Leader Award from the Africa-America Institute. He received honorary degrees from the University of Lagos as well as from the University of Nigeria, Nsukka and was recognized by Forbes Africa as one of the most influential figures in banking.

    ​  

    Nume Ekeghe The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, has been admitted to the prestigious Freedom of the City of London in a distinguished ceremony which

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    In Major Economic Resurgence, Nigeria Recorded $6.83bn Balance of Payments Surplus in 2024

    In Major Economic Resurgence, Nigeria Recorded $6.83bn Balance of Payments Surplus in 2024

    •Cardoso: Improvement reflects impact of macroeconomic reforms, renewed investor confidence, others

    •Petroleum imports declined 23.2% to $14.06bn, gas exports rose to $8.66bn, non-oil $7.46bn

    •Personal remittance inflows rose to $20.93bn, IMTOs $4.73bn 

    •FDI declined to $1.08bn

    James Emejo in Abuja and Nume Ekeghe in Lagos

    In major economic comeback, Nigeria recorded a Balance of Payments (BOP) surplus of $6.83 billion in 2024.

    This marked a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022.

    The Central Bank of Nigeria (CBN) announced the recovery in a statement issued yesterday by the apex bank’s acting Director, Corporate Communications, Mrs. Sidi-Ali Hakama.

    BOP is a record of all economic transactions between a country’s residents and the rest of the world, including trade in goods and services, income flows, and capital transfers, over a specific period.

    The central bank said the improvement reflected the impact of wide-ranging macroeconomic reforms, stronger trade performance, and renewed investor confidence in the nation’s economy.

    Under the review period, the current and capital account recorded a surplus of $17.22 billion, underpinned by a goods trade surplus of $13.17 billion.

    Petroleum imports declined by 23.2 per cent to $14.06 billion, while non-oil imports fell by 12.6 per cent to $25.74 billion.

    On the export side, gas exports rose by 48.3 per cent to $8.66 billion, while non-oil exports increased by 24.6 per cent to $7.46 billion.

    Remittance inflows remained resilient, with personal remittances rising by 8.9 per cent to $20.93 billion.

    Also, International Money Transfer Operator (IMTO) inflows surged by 43.5 per cent to $4.73 billion, compared to $3.30 billion in 2023, reflecting stronger engagement from the Nigerian diaspora.

    Official development assistance also rose by 6.2 per cent to $3.37 billion.

    Net financial assets acquisitions amounted to $12.12 billion while portfolio investment inflows more than doubled, increasing by 106.5 per cent to $13.35 billion.

    I’m addition, resident foreign currency holdings grew by $5.41 billion, indicating stronger confidence in domestic economic stability.

    Although Foreign Direct Investment fell by 42.3 per cent to $1.08 billion, the overall financial account posted notable gains.

    The country’s external reserves increased by $6 billion to $40.19 billion by year-end 2024, bolstering its external buffer.

    Notably, net errors and omissions narrowed significantly by 79.5 per cent to negative $5.10 billion in 2024, down from $24.90 billion in 2023, reflecting substantial improvements in data availability and capture.

    According to CBN, this represented a major advance in data accuracy, transparency, and overall reporting integrity.  The year’s surplus highlighted the effectiveness of the country’s ongoing reform agenda.

    The liberalisation and unification of the foreign exchange market, a disciplined monetary policy approach to managing inflation and stabilising the naira, and coordinated fiscal and monetary measures have all contributed to enhanced competitiveness and investor sentiment, the apex bank stated.

    Responding to the economic feat, CBN Governor, Mr. Olayemi Cardoso, said, “The positive turnaround in our external finances is evidence of effective policy implementation and our unwavering commitment to macroeconomic stability.

    “This surplus marks an important step forward for Nigeria’s economy, benefiting investors, businesses, and everyday Nigerians alike.”

    ​  

    •Cardoso: Improvement reflects impact of macroeconomic reforms, renewed investor confidence, others •Petroleum imports declined 23.2% to $14.06bn, gas exports rose to $8.66bn, non-oil $7.46bn •Personal remittance inflows rose to $20.93bn,

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