ZENITH BANK APPOINTS ENGR. MUSTAFA BELLO AS CHAIRMAN AT ANNUAL GENERAL MEETING

Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of Directors. The appointment, which takes immediate effect, has been approved by the Central Bank of Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.

Engr. Bello’s appointment represents a strategic step to ensure the continuity, stability, and sustained effectiveness of the Board, while reinforcing the high standards of corporate governance, regulatory compliance, and strategic oversight for which Zenith Bank is widely respected.

He joined the Board of Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board Audit and Compliance Committee, Board Governance, Nomination and Renumeration Committee and as Chairman of the Board Risk Management Committee until his appointment as Chairman of the Board of Directors.

He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations, and a proven track record in strategic oversight and organisational growth. He has consistently demonstrated integrity, independence and sound judgement, qualities that distinguished him as the natural choice to lead the Board into its next chapter.

Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more than four decades across the public and private sectors of the Nigerian economy. He served as Minister of Commerce of the Federal Republic of Nigeria from 1999 to 2002 under President Olusegun Obasanjo, GCFR, where he led the development of Nigeria’s WTO-consistent Trade Policy. He also oversaw the Corporate Affairs Commission (CAC) online project of 2002, which modernised the way businesses register and operate in the country. From November 2003 to February 2014, he served as Executive Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where he was instrumental in attracting foreign direct investment into Nigeria, building multilateral and bilateral partnerships, and representing the Federal Government at international conferences and missions.He graduated from Ahmadu Bello University (ABU), Zaria, in 1978 with a B.Engr. in Civil Engineering (Second Class Upper Division), winning the Shell Prize for the best project and thesis in the Faculty of Engineering. He began his career with the Nigerian Army’s Directorate of Quartering and Engineering Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer from 1980 to 1983.

He is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian economy, and has previously served on the boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations across Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia and Côte d’Ivoire.

EYT 2026: ETIA Promotes Practical Skills for Young Engineers, Rallies Industry Leaders

Concerns over the growing disconnect between engineering education and industry needs in Nigeria came into sharp focus at the second edition of the Engineering Your Tomorrow (EYT) Summit 2026, where stakeholders called for urgent reforms to produce industry-ready graduates capable of competing globally.

The summit, held today in Agbara, Ogun State, organised by Emma-tob International Academy (ETIA), brought together industry leaders, educators, recruiters, and students in a renewed push to bridge the gap between theory and real-world application.

A Vision Born from Experience

Convener of the summit and Director of ETIA, Engr. Debbie Oreoluwa Omolola, said her exposure to global engineering standards in the United Kingdom inspired the initiative.

“When I had conversations with engineering students here, I saw that they were struggling from a practical standpoint, and it is not their fault,” she said.

“There is a massive skill gap in tertiary and private institutions in Nigeria.”

She explained that the vision behind EYT and ETIA goes beyond academic certification.

“The vision is not just to educate and give you a certification… what we want to do is give you a career that can sustain you and your family,” she added.

From Idea to Movement

In his welcome address, Managing Director of Emma-tob Engineering, Pastor Emmanuel Omolola, described EYT as more than just an event.

“It is a high-impact platform dedicated to redefining engineering where innovation meets sustainability and where talents meet opportunities,” he said.

“Our mission is to enhance employability, drive innovation and contribute meaningfully to modern industries.”

He noted that ETIA was established to close the long-standing gap between classroom knowledge and practical application.

“We are building a platform that equips individuals with industry-ready skills in fabrication, precision engineering, manufacturing and technical services,” he said.

“At ETIA, we believe that excellence in engineering is measured by results.”

Industry Perspective: ‘Degrees Are Not Enough’

Chairman of the day and Factory Manager at Nestlé Nigeria, Mr. Talla Fall, stressed that academic qualifications alone are no longer sufficient.

“It is not just what you know… what matters more is what you do with what you know,” he said.

“Sometimes we receive engineers, but they cannot do anything.”

Highlighting the importance of practical exposure, he added:

“Education must not stop in the classroom but extend into workshops, industries and the real world.”

Fall also underscored Nigeria’s demographic advantage.

“Nigeria’s greatest resource is not oil… it is the young generation,” he said.

“If you rise, Nigeria will rise, and Africa will rise.”

Recruiters Raise Red Flags

From the hiring side, Human Resource professional Mr. Afolarin Afolayan painted a worrying picture of graduate readiness.

“Organisations are frustrated because many graduates lack soft skills like mindset and attitude, and even basic tools like Microsoft Word, Excel and PowerPoint,” he said.

“They know theories but have little or no practical experience.”

He also pointed to the impact of migration on workforce stability.

“The ‘Japa’ syndrome affects talent planning, as trained staff often leave the country without clear long-term plans,” he added.

Technology and the Future of Engineering

Delivering the keynote, Factory Engineering Manager Mr. Saheed Kareem highlighted the transformative role of Artificial Intelligence (AI) in engineering and everyday life.

“Artificial Intelligence is simulating human intelligence using machines to solve real-life problems,” he said.

“We are already living with AI, even if we don’t acknowledge it.”

Using examples from food delivery platforms to smart health devices, he explained how AI is reshaping industries.

“AI is removing human effort and stress, allowing us to focus on more important tasks,” he noted.

Kareem warned that adaptation is no longer optional.

“It has become a mandatory skill for everyone to thrive,” he said.

“In five years, AI will take over many processes completely.”

He, however, cautioned about risks such as cybercrime and ethical concerns.

“We must understand the legal implications and embrace AI responsibly,” he added.

Students Demand Industry Exposure

Students from universities including the University of Lagos and Lagos State University welcomed the initiative but called for more consistent engagement with industry.

“We are grateful for this platform, but we need more opportunities to interact with industry before graduation,” a student participant said.

Another added:

“Programs like this help us understand the realities of engineering beyond the classroom.”

A Call to Action

Across board, speakers agreed that Nigeria’s engineering future depends on deliberate collaboration between academia and industry.

“It is not enough to wish for change — you have to be the change,” said Mr. Talla Fall.

For the organisers, the summit represents a long-term commitment to transformation.

“EYT is not just an event; it is a movement,” said Engr. Debbie Omolola.

“We are building engineers who are innovative, practical and globally competitive.”

ZENITH BANK CROSSES N1 TRILLION MARK IN Q1 2026 GROSS EARNINGS

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. Interest expense moderated by 5% YoY in Q1 2026 underscored by a continued optimisation of the Bank’s deposit mix and funding structure. This resulted in a 7% growth in net interest income from N591 billion in Q1 2025 to N634 billion in Q1 2026. Non-interest income also improved 19% year on year, rising from N89 billion to N106 billion, highlighting an improvement in fees and commissions and higher contributions from other operating income streams. This performance reflects stronger customer activity and deeper transaction volumes across key business channels.

As a result, the Group recorded a 3% year on year increase in profit before tax, which rose to N361 billion compared with N351 billion in Q1 2025. Profit after tax also increased by 1% to N314 billion.

Profitability was further supported by a decline in cost of funds to 3.76% in Q1 2026 from 3.90% in Q1 2025; while cost of risk moderated to 2% in Q1 2026, reflecting a prudent and proactive risk management stance in an elevated yield environment.

Gross loans increased by 9% from N11.06 trillion as at full year 2025 to N12.04 trillion in Q1 2026, reflecting the continued commitment to carefully deploying credit into high growth sectors of the economy that enhance portfolio returns. Asset quality strengthened as Non-Performing Loan (NPL) ratio eased to 3.79%, from 3.82% reported in December 2025, underpinned by disciplined credit risk management. Customer deposits rose to N24.47 trillion in Q1 2026, while total assets increased by 2% to N32.01 trillion over the same period.

Return on Average Equity (ROAE) and Return on Average Assets (ROAA) stood at 24.9% and 4% respectively, supported by strong top line earnings and enhanced balance sheet efficiency. Net interest margin (NIM) strengthened to 12.5%, up from 10.3% in Q1 2025, underscoring the Group’s ability to preserve its margins and deliver improved shareholder returns. Prudential ratios remained strong and comfortably above regulatory requirements.

The Group’s Capital Adequacy Ratio (CAR) and Liquidity Ratio stood at 23.5% and 71% respectively, while the coverage ratio remained strong at 169%, reinforcing the Bank’s resilient capital and liquidity position.

The Group’s Q1 2026 performance underscores its continued focus on sustaining high quality earnings growth, further strengthening asset quality, and deepening customer engagement through continued digital innovation. The Bank remains firmly committed to delivering sustainable growth anchored on sound corporate governance, prudent risk oversight, and disciplined capital allocation.