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List Of Top Five High Earners As Nigerian Banks Record Lower E-business Income

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Interestingly, the tier-1 banks popularly known as the FUGAZ (First Bank, UBA, Access Bank, GT Bank, and Zenith Bank) topped the list of banks with the highest e-business earnings in the first half of 2020.   


Data from their half-year 2020 financials show that the FUGAZ generated a sum of N67.3 billion from electronic business, a drop of 14.2% compared to N78.4 billion recorded in the corresponding period of 2019. 

The recent decline could be attributed to the disruption caused by the COVID-19 pandemic and a CBN policy that implemented a downward review of bank charges for various transactions. This is the first decline since we started tracking as earnings from e-business has consistently witnessed an increase over the years.


Data obtained from Nairametrics Research shows that the tier-1 banks generated a sum of N32.3 billion e-business earnings in the second half of 2017, N45.1 billion (2018), and N78.4 billion (2019) respectively before the decline in H1 2020.

GT Bank  – Fifth Position
The most capitalized bank in the stock market generated a sum of N4.8 billion from their electronic businesses to stand in fifth behind Zenith Bank. GT Bank e-business revenue declined by 32.2% from N7.14 billion generated in H1 2019 to N4.8 billion in H1 2020. Its e-business revenue accounted for 2.1% of its total revenue (N225.1 billion) generated within the period. 

Zenith Bank  – Fourth Position
Zenith Bank generated a total of N8.94 billion from e-business income in H1 2020, a 67.01% decline from N27.1 billion generated in the same period of 2019. Its e-business revenue accounted for 2.6% of the total revenue generated during the period. It should be noted that when compared to other banks, it posted the highest profit after tax of N103.8 billion during the period under review.  

Access Bank  – Third Position
The largest bank in Nigeria by total assets doubled its e-business revenue from N5.5 billion recorded in H1 2019 to N13.9 billion in 2020. Access Bank recorded the highest year-on-year growth in e-business income as its N13.91 billion was 151.3% higher than the corresponding 2019 earnings.  E-business revenue generated by the bank includes fees and commissions from online purchases and bills payments.  

UBA – Second Position
With a total e-business income of N17.93 billion, UBA moves to second place. The multinational grew its E-business revenue by 6.35% from N16.86 billion generated in the first half of 2019. E-business revenue accounted for 6% of the total revenue generated during the period (N300.6 billion). 
Apart from the UBA Mobile Banking app, the banking giant boasts of a number of electronic products such as U-Pay which allows customers to make payments at the click of a button in countries where UBA has a presence in Africa, U-Collect, on the other hand, is a consolidated internet payment gateway solution which integrates multiple payment solutions available in Nigeria such as VISA, Verve, Master Card and e-Tranzact.

First Bank – First Position
 First Bank toppled Zenith Bank to the first position, having earned N21.7 billion from e-business between January and June 2020, a marginal decrease of 0.53% compared N21.83 billion recorded in the corresponding period of 2019. Meanwhile, the bank’s e-business revenue had enjoyed consistent growth in the past years, growing by 40.8% between 2018 and 2017, and a 46.3% growth between 2019 and 2018. 
Despite being one of the oldest banks in the country, First Bank has been at the forefront of the mobile banking revolution. The bank was one of the pioneers of the USSD platform which is used to transfer money via a text messaging application of a mobile phone. 

The bank also has two mobile banking apps, the FirstMobile which is like other banking apps, and FirstMonie which does not require its customers to have bank accounts to transfer money or make transactions. It also makes use of FirstBank mVisa, which allows consumers to pay for goods and services through FirstMobile by scanning a QR code or by dialing a USSD number. Other apps include; Qr Merchant and First Bank Paypal.  
Stiff Fintech competition As earlier stated, the decline could also be attributed to the economic downturn witnessed in the country as a result of the COVID-19 pandemic and the new CBN mandated downward review of bank charges for various transactions.


Commercial banks also face stiff competition from startups are entering into the Fintech space to compete for market share with backing from venture capital and private equity firms. The influx of tech-oriented banks continues to pose a threat to revenue earned by the traditional banks from e-businesses.

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From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant

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*From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant*

What started as a single company with a bold vision has grown into one of Nigeria’s most dynamic business conglomerates. Founded by the visionary Mujahid Turajo, Til Interiors began as a modest interior design company, bringing elegance and functionality to residential and commercial spaces.

Today, that vision has expanded far beyond design—Til Interiors has evolved into Til Group, a powerful conglomerate spanning food production, construction, global trade, and beyond.
With Til Foods, Til Interiors, Til Construction, and Til Global under its umbrella, Til Group is now a driving force in Nigeria’s economic landscape, fostering job creation, innovation, and industrial growth.

Til Interiors: The Foundation of an Empire
The journey of Til Group began with Til Interiors, a company that set out to revolutionise interior design and space transformation in Nigeria. Through innovative designs, premium materials, and expert craftsmanship, Til Interiors quickly gained a reputation for creating luxurious, functional, and aesthetically superior spaces for homes, offices, and commercial properties.

“Til Interiors was our foundation—it taught us the importance of detail, innovation, and excellence. Those same principles now define everything we do across all sectors,” says Mujahid Turajo.

Til Foods: Feeding Nations, Empowering Farmers
As Til Interiors flourished, Mujahid identified a critical need for self-sufficiency in food production and distribution, leading to the creation of Til Foods, which has now grown into a leader in Nigeria’s agribusiness and food industry.

Til Foods is dedicated to sustainable agriculture, food processing, and distribution, ensuring that Nigerians have access to high-quality, locally produced food products. The company oversees the entire value chain, from farming and production to retail and exports.
Within Til Foods, two major brands stand out:
Tomatil – A multi-billion naira state-of-the-art tomato processing factory in Kano, transforming fresh tomatoes into premium tomato paste and products, reducing Nigeria’s reliance on imports.

Til Grills & Restaurant – A high-end restaurant located in Ahmadu Bello Way, Kado, offering a unique dining experience that blends traditional flavours with modern culinary expertise.

“Til Foods is not just a business—it’s a mission to achieve food security, support local farmers, and put Nigeria at the forefront of global agribusiness,” says Mujahid.
Til Construction: Building the Future, One Structure at a Time
Recognising the urgent need for quality infrastructure and housing solutions in Nigeria, Til Construction was established to provide innovative, durable, and sustainable building solutions.

Today, it stands as a major player in real estate development, civil engineering, and large-scale construction projects.

One of Til Construction’s flagship projects is Concord, a residential development located in Life Camp, Abuja. Designed to redefine modern living, Concord features premium residential blocks that blend contemporary architecture with luxury, comfort, and sustainability. The project is set to transform Abuja’s skyline, offering state-of-the-art amenities, top-tier security, and elegant living spaces tailored for families and professionals alike.
“We are not just building structures; we are creating communities where people can thrive. Concord is a testament to our commitment to quality and innovation in Nigeria’s real estate sector,” notes Mujahid.

Til Global: Connecting Nigeria to the World
To support the group’s expansion into international markets and cross-border trade, Til Global was established as the conglomerate’s trade and logistics arm. This division ensures that African goods, resources, and services reach the world stage efficiently and competitively, fostering stronger trade relationships and expanding market access for Nigerian products.

A Legacy of Growth, Excellence, and Impact
From a single interior design company to a multisector empire, Til Group’s journey is a testament to strategic vision, resilience, and a relentless pursuit of excellence. Under Mujahid’s leadership, the company continues to expand, innovate, and set new benchmarks in food production, design, construction, and global trade.
“Our story is about growth, impact, and transformation. We started with a passion for design, and today, we are shaping industries and changing lives across multiple sectors,” Mujahid affirms.
As Til Group enters its next phase of expansion, the company remains committed to its core values of innovation, sustainability, and economic empowerment, ensuring that its legacy continues for generations to come.

*About Til Group*
Til Group is a diversified Nigerian conglomerate with subsidiaries in food production (Til Foods), interior design (Til Interiors), construction (Til Construction), and global trade (Til Global). The group is dedicated to driving industrial and economic growth through innovation, sustainability, and excellence.

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

 

 

 

Transcorp Power Plc (NGX: TRANSPOWER), one of the power subsidiaries of Africa’s leading and listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited results for the first quarter ended March 31, 2025.

 

Key Highlights:

 

  • Robust Revenue Growth

 

o    An impressive 55% year-on-year increase in revenue, rising from 67.9 billion to 105.4 billion.

 

o    This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024. This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country. 

 

  • Significant Growth in Profit Before Tax

 

o    Profit before tax grew by 50%, from 28.8 billion in Q1, 2024 to 43.3 billion in Q1, 2025.

 

o    This substantial growth reflects not only higher revenues but also continued improvements in cost efficiency and operational excellence.

 

 

MD/CEO of Transcorp Power Plc, Peter Ikenga, comments:

 

“We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency. Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”.

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

The Governor of Ogun State, Prince Dapo Abiodun, CON, has congratulated real‑estate titan Aare Adetola EmmanuelKing, Chairman and CEO of ADRON Homes & Properties, on his 50th birthday.

“Reaching fifty in good health and remarkable professional standing is a testament to God’s grace,” the governor said.

Governor Abiodun lauded Aare Adetola’s “exceptional journey and unwavering commitment to excellence,” noting that ADRON Homes has expanded under his leadership from modest beginnings to a leading national developer that has broadened access to home-ownership for countless Nigerians.

“As governor of your home state, I am proud of your accomplishments,” Governor Abiodun added.

The Governor highlighted Aare Adetola’s deep‑rooted investment in people and the local economy, describing it as a reflection of faith in Nigeria’s limitless potential. He credited the celebrant’s “strategic foresight and community‑driven initiatives” with lifting the country’s real‑estate sector to new heights.

On behalf of his family and the people of Ogun State, Governor Abiodun wished EmmanuelKing continued health, wisdom, and impact, extending heartfelt congratulations to his family, friends, and associates on this golden jubilee milestone.

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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