Business

NEVACO: The Newest Sherriff in town

Published

10 years ago

July 17, 2016

In 2004 a popular Nigerian pop musician released a song that took a swipe at Nigeria. Though so many thought the lyrics to be satirical, former President Olusegun Obasanjo’s reaction to Eedris Abdukareem’s Jaja-Jaga made headlines in national dailies.

The lyrics described how uncoordinated and hopeless the Nigeria project had become in the sense that nothing was working in the security, business, education and other sectors.

Contrary to the sharp criticisms and bashing the presidency lashed out at the artiste, the song was heralded by Nigerians as describing the reality in the country and captures the desperation, frustration and utter disconnect the citizenry had with government. It was, in a way, a plea by the artiste to the government to get things organized.

With the return to democracy in 1999 following long years of military regimes, there was certainly a lack of ethics and values in Nigeria and Nigerians. There became an urgent need to urge the citizens to once again have a belief in themselves, the government and the country. There was a basic need to uplift the standard of living of the populace in the communities and ensure that they have a sense of belonging in Nigeria and get the best of social services, having the mindset that our political class had overtime encouraged disobedience to the rule of law which has inadvertently eroded the ethical value systems and belief.

The Federal Government, under former President Goodluck Jonathan, on March 17th, 2015 established National Ethnics and Values Department to critically examine the fundamental change in Nigeria that brought corruption to the glare of the public and looking into the importance of ethics and values in our system of governance with Dr. (Mrs.) Serah Jubril appointed the Special Adviser with a view to promoting inherent values of integrity, honesty, fairness and responsibility towards a positive transformation of Nigeria’s cultural heritage and ethical awareness the nation’s core values system.

After the historic election in 2015 which for the first time saw an opposition party defeating the incumbent government, Nigeria was seen to be in a path to self-realization based on the Change Mantra in which the President Muhammadu Buhari government came into power with.

And to achieve this, President Buhari established the National Ethics and Values Compliance Office (NEVACO) to build in Nigerians that self-confidence is needed. NEVACO is looking at developing the entrepreneurship skill of individuals to be self-reliant, developing code of ethics that will stand the test of time, developing code of conduct of ethical training for all staff, developing a broader social responsibility to showcase it as a source of group strength.

Appointed to shepherd this new establishment is Dr. Emmanuel Adeoye as its first Director General, saddled with the task of giving a new orientation to Nigerians to ethics and values.

Correcting the wrongs

According to Adeoye, the core responsibilities that NEVACO has now are to correct the wrong perceptions in the country and redirect the thinking of Nigerians positively.

“NEVACO is established to correct the wrong, the evil vices we are doing in our country and society today. It is to make sure we do things the right way, which we have not been doing in the country, even the little child in Nigeria today want to make money by wrong ways. So, the aim of the commission is to educate people to be upright and sincere in whatever they are doing. For instance, you want to go to the ministry for something, you must have to bribe somebody to help push the letter, this act is wrong and we want to correct it. So, we are out to let everybody know whatever you are doing in the country, let it be ethnical, let it be done in the right way. Ethnic is to correct the abnormality in the society, to correct the misimpression by the outside communities.”

Being among the newest federal government organizations to be established there are fears that the current state of the economy would affect the effectiveness of the commission given the heavy task it has been saddled with in dealing with over 150 million Nigerians and also with the various experiences being witnessed in the North East, South East and Niger Delta regions. But Adeoye dispelled those fears saying that NEVACO existed as the Foundation for Ethics and Values (FEAV) under the former special adviser, Dr. Sarah Jubril under the Goodluck Jonathan administration.

“If you would remember vividly, how Ethics and Value was been run, the former administration, appointed her Excellency Sarah Jubril as Special Adviser on Ethics and Values and later on my office was created, I am the first Director-General. So, based on this what was in existence before was FEAV at the time, she was not been given fund so she has to use her NGO to carry the message which to me was a good idea, she started it as a corporative society to help the people with their communities.

“For instance, if there is cassava in a particular village, anybody can borrow money from the corporative and process the cassava, refund the money after selling and the loan given to another people. That was how the structures started going base on NGO bases, what the government is doing now is that they are interested, and decided to say let make it a proper structure. But, again, there is no fund, what we told the government is that we will create something to be generating fund, so that the burden would not be on the government alone. That is what the government is looking for, that is what everybody need now. Because the government can’t do everything, there’s no fund/money anywhere at the moment,” he said.

Not waiting for government

With a full knowledge of the task ahead the new DG embarked a sensitization programs aimed at introducing NEVACO to the grassroots all across the six geo-political zones in the country. The first was held at Ado-Ekiti, Ekiti State over the weekend with a great emphasis on agriculture.

The conference tagged South West Convention on Ethics and Values sought to engage the people, listen to their complaints and educate them on the need to adhere strictly to the ethics and values of the country. The participants drawn from all sectors of the economy had open access to the Director-General. The core message NEVACO is dwelling on is the need for Nigerians to return to farming. Also enumerated were some of the attracting offers NEVACO spelt out to those who comply.

“We intend to create employment, by training people on different vocations. For instance, in Ekiti state right now, the yam flour Processing Mill is down; it has not been working for a long time. We are looking at NEVACO taking over the mill, we can talk to the people, they bring the yam to our warehouse, we can buy it from them, process it and repackage it for final consumption. We have to invest; we have to also look at bringing in investors to partner with us. We must find a way to create jobs/employment; we don’t need to wait for the government for everything.”

Adeoye made it clear that as a new sheriff tasked with preserving the ethics and values of the land, they are looking for partners that will work progressively with them to achieve the objective.

“We are looking for credible people to drive these programs, not just anybody that would come to destruct the whole process. Like I always tell people, Nigerian like to two things, they like uniform and they like titles. So, structures have to be on ground to correct. Everybody must know their function, not for a watch repairer to stand up and tell the whole world he is a managing director. In order words, we need to get the message of the government to the grassroots; there must be orderliness, structures for everybody to carry out their respective functions.”

Duplication of duties

With the Bill establishing the National Ethics and Values Compliance still under consideration by the National Assembly, some experts are of the fear that the duties of the compliance officers may be conflicting with those of the police and Civil Defense corps, an assertion Adeoye said isn’t possible as ethics and values compliance will also partner with the police, armed forces and civil societies.

“The police is established to act after the offence, the Police arrest because you are a criminal, the DSS arrest criminals but NEVACO is a compliance office. We are there to correct everybody; all Nigerians. We are compliance officer and tasked to preach the change, ethnics and value to let people know their right from wrong. We are there to correct people, even the policeman can be corrected by a Compliance Officer. We were with the Inspector General of Police recently and we told them we are here to partner with them, we told them they also need to establish ethnics and value in the police force to deal with any officers that try to go above the law. Every department of our lives, every ministry, parastatals must have a compliance officer to correct abnormality in the country. We don’t arrest, we make sure you don’t commit the crime. The police arrest after a crime is committed but we are here to prevent you from committing the crime in the first place. We are going to partner with the police and already existing arm forces; we are here to enlighten people.”

Owing to the hard anti-corruption stance of President Muhammadu Buhari and his establishment of the War Against Indiscipline (WAI) as a military administrator with WAI brigade corps enforcing discipline at times with force, there has been some allegations by the opposition that the establishment of NEVACO is another form of Buhari bringing in attack dogs that will champion his anti-corruption cause. But the DG reassures that none of that is true as every advanced government knows the need to have an ethics and values department.

“Any serious government all over the world must have Ethics and Values, just take a look at the advance world. It duties is to correct, train and enlighten the citizen. In Nigeria we are developing and as a develop nation things like this will need to stay together as one. Other organization will come up in the nearest future that will are suppose to have. Even in the National Assembly at the moment have a committee on Ethnic and Values is to check them.”

The first test that NEVACO is likely to encounter is the turbulence being witnessed across the regions; Boko Haram in the North East; the agitation for Secession by the Independent People of Biafra (IPOB) and the Niger Delta Avengers (NDA) in the South-South, how ready is the commission to send its officers to these volatile areas.

“You know as government, we are talking to everybody; some parts of the country feel cheated and feel they need to have their own share. But, most of the problems are even the communities themselves, they vandalize the pile and it will spill over and destroy their farm, some of them have different ship on the sea to hijack vessel and this is not helping the federal government. Resource control is what they are fighting for, they want to be in control, but this is one Nigeria they should know that there is no negotiation. Power belongs to the people and not one section of the country. They claim they are fighting for the community, but the communities are rejecting them, as we read in the papers every day,” he said.

Bank

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

Published

4 hours ago

May 6, 2026

Sahara Weekly

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.

Business

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

Published

10 hours ago

May 6, 2026

Sahara Weekly

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.”

Bank

ZENITH BANK CROSSES N1 TRILLION MARK IN Q1 2026 GROSS EARNINGS

Published

1 day ago

May 5, 2026

Sahara Weekly

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.