Business
Vice-Chancellors, ASUU reject new JAMB Cut-off Mark
SOME Vice-Chancellors and the Academic Staff Union of Universities have rejected the decision of the Joint Admissions and Matriculation Board to peg admission cut-off mark at 120 for universities and 100 for polytechnics, monotechnics and colleges of education.
ASUU said the action, which it described as a “sad policy decision,” was in tandem “with the dream of the present government to destroy public universities in the country.”
Most of the vice-chancellors our correspondents interviewed on the issue maintained that they would not lower admission standards in their respective varsities.
The vice-chancellors stated that the decision would add no value to the nation’s university system.
For instance, in a statement issued by the Vice-Chancellor, University of Ibadan, Prof. Idowu Olayinka, on the issue and released by his Media Assistant, Mr. Sunday Saanu, on Thursday, the premier university stated that it would never admit any candidate that scored 120 in the UTME.
The statement added, “It should worry us as patriots that candidates who scored just 30 per cent in the UTME can be admitted into some of our universities. Yet, we complain of poor quality of our graduates. You can hardly build something on nothing. The consolation here is that since JAMB started conducting this qualifying exam in 1978, UI has never admitted any candidate who scored less than 200 marks out of the maximum 400 marks.
“This translates to a minimum of 50 per cent. This remains our position as an institution aspiring to be world-class. Reality is that only about four other universities in the country have such high standard. To that extent, apart from being the oldest, we are an elite university in the country at least judging by the quality of our intakes.’’
Olayinka, however, commended the decision of the Federal Government to re-introduce the post-UTME test and exonerated the incumbent JAMB Registrar, Prof. Ishaq Oloyede, from the cancellation of the test two sessions ago.
“It is gratifying to note that the Honourable Minister of Education, Mallam Adamu Adamu, who chaired the meeting, apologised publicly for canceling the post-UTME screening last year.
“In effect, universities are now allowed to conduct the test using modalities approved by the Senate of each institution.
“To be fair to the incumbent Registrar of JAMB, he was not the Registrar when the policy somersault of cancelling the post-UTME test was made last year. As strongly canvassed by us at every opportunity, for UI, the need to admit the best admission seekers is the primary motivation for the test and not money, even though we do not pretend that you can run any university so properly called without funds.”
Speaking to one of our correspondents on Thursday, the Vice-Chancellor, Tai Solarin University of Education, Ogun State, Prof. Oluyemisi Obilade, said that the onus would ultimately fall on parents and employers of labour to decide “between a first-class graduate of a university which takes 120 as its cut-off mark or one that takes 180 as its cut-off mark.’’
Obilade, who said that TASUED would never go below 180, insisted that many of the VCs at the Combined Policy Meeting during which the 120 benchmark decision was made, said they would not go below 180.
She said, “But some universities chose 120 at the meeting. What the JAMB has done is to transfer power back to the Senate of universities to decide their cut-off marks. What I can tell you is that many public universities and even private universities will not go below 200. We were told that some universities were doing what they called ‘under the table admission’ and then come back to JAMB after four years for regularisation.
“TASUED will not go below 180, not under my watch. Even in the United States, there is what we call Ivy League universities, and there are those you can call ‘Next Level Universities.’ There are also those that are termed community colleges. At the meeting, the outcome is that universities have been given the freedom to decide. It is not general legislation and it is not binding on everybody.’’
Speaking with journalists in Ibadan, the Chairman of ASUU at the University of Ibadan, Dr. Deji Omole, said it was the dream of the present government to destroy education in the country.
He said, “Rather than sanctioning the identified universities that admitted over 17,000 students illegally, the JAMB registrar simply regularised illegality and lowered cut-off marks to favour the interests of the friends of government who own private universities and are hell bent on destroying public education.”
Omole said it was vital for JAMB to be scrapped in order to save the nation’s education and its future. He said the board had outlived its usefulness and that prospective students should apply directly to universities of their choice for admission.
He said, “Where are the students that the JAMB registrar said entered universities illegally? Which universities admitted them? If 30 per cent did not take JAMB and found their way into the university system, is that not corruption and a message that JAMB is not significant anymore? What sanction did those who did the illegal thing receive other than regularisation of illegality.
“We are watching because long before now we have said that JAMB has outlived its usefulness. Let the universities set their unique standards and those who are qualified can come in. Scoring 120 out of 400 marks is 30 per cent. Even in those days, 40 per cent was graded as pass. But now JAMB said with F9 which is scoring 30 per cent you can be admitted.
“They deliberately want to destroy education. Even for polytechnic, 100 marks is 25 per cent. It is sad. And that is where we are in Nigeria. They want to destroy public education at all costs. This is not setting standard for education in Nigeria. It is purely lowering standards and digging grave for the future. This is why ASUU is currently on the struggle to influence the government to do the needful for education in Nigeria.”
Also, the Dean of Students Affairs, Federal University of Technology, Akure, Prof. Kayode Alese, who spoke on behalf of FUTA management, said that the institution would soon unveil its cut-off mark.
“However, I can assure you that FUTA has never gone as low as 120. It has never happened and it will never happen,” he said.
Alese added, “Having spoken for the university, my personal opinion is that the 120 cut-off mark will not add value to our education system. The Federal Government has just increased the pass mark from 40 to 45 in universities. What that means is that you must score at least 45 for you to pass any course. We have enough candidates and yes you may try to increase access but tertiary education should be for those who have the capability.’’
Also, the Vice-Chancellor, Obafemi Awolowo University, Prof. Tope Ogunmodede, said the institution would not admit any candidate with 120 UTME score.
He said, “Traditionally, OAU has never admitted students who scored below 200 in the UTME. For us, we are sticking to 200. The minimum benchmark is 120 but you can go higher than that. I expect that an institution should be able to determine the quality of its graduates because there are internal exams. What has been done is to provide a leeway for universities to decide their cut-off marks.”
Meanwhile, the National Association of Nigerian Students has described the reduction of the cut-off marks for admission into tertiary institutions as “a gross misplacement of priority and an exercise in futility.”
The organisation said that the reduction by JAMB, from 180 for universities and 165 polytechnics, to 120 and 100 respectively for the 2017 UTME, would translate to a disastrous outcome in the future.
The President of NANS, Chinonso Obasi, in a statement on Thursday, threatened that the decision would be resisted if JAMB refused to adhere to the status quo.
He said, “As critical stakeholders in the educational sector, NANS will vehemently resist the review and call on government to maintain the status quo and endeavour to conduct a comparative study and analysis of policies from other climes that support functional learning and production of young people that can compete with their peers globally.
“Even with the current status, the general phenomenon is that Nigerian graduates are not employable. The lowering of standards will translate to a disastrous outcome in the future by churning out young people who cannot fit into the demands and expectations of the 21st century.’’
According to him, since the 21st century is being driven by innovation and competitiveness, lowering the entry level into tertiary institutions would only further contribute to reducing the productivity and peak performance of young people seeking admission into the country’s higher institutions of learning.
However, the Vice-Chancellor of the Christopher University, Ogun State, Prof. Friday Ndubuisi, said the new admission benchmark would have no negative implication on the quality of education.
He said, “This is not an imposition. The cut-off mark is a minimum benchmark for admission. This idea of taking the UTME every year without getting admission is worrying. About 1.6 million candidates sat for the examination this year and about 500,000 will be admitted mostly because of the cut-off mark. Most universities will not go below 200, but with five credits obtained in two sittings, a person should be qualified for admission. This is, however, not an imposition. Universities still get to decide on whom to admit through the post-UTME.’’
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
By femi Oyewale
Business
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.
The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.
Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.
Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.
The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.
For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.
The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.
Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.
As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.
*Why Nigeria’s Banks Still on Shaky Ground with Big Profits, Weak Capital*
*BY BLAISE UDUNZE*
Despite the fragile 2024 economy grappling with inflation, currency volatility, and weak growth, Nigeria’s banking industry was widely portrayed as successful and strong amid triumphal headlines. The figures appeared to signal strength, resilience, and superior management as the Tier-1 banks such as Access Bank, Zenith Bank, GTBank, UBA, and First Bank of Nigeria, collectively reported profits approaching, and in some cases exceeding, N1 trillion. Surprisingly, a year later, these same banks touted as sound and solid are locked in a frenetic race to the capital markets, issuing rights offers and public placements back-to-back to meet the Central Bank of Nigeria’s N500 billion recapitalisation thresholds.
The contradiction is glaring. If Nigeria’s biggest banks are so profitable, why are they unable to internally fund their new capital requirements? Why have no fewer than 27 banks tapped the capital market in quick succession despite repeated assurances of balance-sheet robustness? And more fundamentally, what do these record profits actually say about the real health of the banking system?
The recapitalisation directive announced by the CBN in 2024 was ambitious by design. Banks with international licences were required to raise minimum capital to N500 billion by March 2026, while national and regional banks faced lower but still substantial thresholds ranging from N200 billion to N50 billion, respectively. Looking at the policy, it was sold as a modern reform meant to make banks stronger, more resilient in tough times, and better able to support major long-term economic development. In theory, strong banks should welcome such reforms. In practice, the scramble that followed has exposed uncomfortable truths about the structure of bank profitability in Nigeria.
At the heart of the inconsistency is a fundamental misunderstanding often encouraged by the banks themselves between profits and capital. Unknown to many, profitability, no matter how impressive, does not automatically translate into regulatory capital. Primarily, the CBN’s recapitalisation framework actually focuses on money paid in by shareholders when buying shares, fresh equity injected by investors over retained earnings or profits that exist mainly on paper.
This distinction matters because much of the profit surge recorded in 2024 and early 2025 was neither cash-generative nor sustainably repeatable. A significant portion of those headline banks’ profits reported actually came from foreign exchange revaluation gains following the sharp fall of the naira after exchange-rate unification. The industry witnessed that banks’ holding dollar-denominated assets their books showed bigger numbers as their balance sheets swell in naira terms, creating enormous paper profits without a corresponding improvement in underlying operational strength. These gains inflated income statements but did little to strengthen core capital, especially after the CBN barred banks from using FX revaluation gains for dividends or routine operations. In effect, banks looked richer without becoming stronger.
Beyond FX effects, Nigerian banks have increasingly relied on non-interest income fees, charges, and transaction levies to drive profitability. While this model is lucrative, it does not necessarily deepen financial intermediation or expand productive lending. High profits built on customer charges rather than loan growth offer limited support for long-term balance-sheet expansion. They also leave banks vulnerable when macroeconomic conditions shift, as is now happening.
Indeed, the recapitalisation exercise coincides with a turning point in the monetary cycle. The extraordinary conditions that supported bank earnings in 2024 and 2025 are beginning to unwind. Analysts now warn that Nigerian banks are approaching earnings reset, as net interest margins the backbone of traditional banking profitability, come under sustained pressure.
Renaissance Capital, in a January note, projects that major banks including Zenith, GTCO, Access Holdings, and UBA will struggle to deliver earnings growth in 2026 comparable to recent performance.
In a real sense, the CBN is expected to lower interest rates by 400 to 500 basis points because inflation is slowing down, and this means that banks will earn less on loans and government bonds, but they may not be able to quickly lower the interest they pay on deposits or other debts. The cash reserve requirements are still elevated, which does not earn interest; banks can’t easily increase or expand lending investments to make up for lower returns. The implications are significant. Net interest margin, the difference between what banks earn on loans and investments and what they pay on deposits, is poised to contract. Deposit competition is intensifying as lenders fight to shore up liquidity ahead of recapitalisation deadlines, pushing up funding costs. At the same time, yields on treasury bills and bonds, long a safe and lucrative haven for banks are expected to soften in a lower-rate environment. The result is a narrowing profit cushion just as banks are being asked to carry far larger equity bases.
Compounding this challenge is the fading of FX revaluation windfalls. With the naira relatively more stable in early 2026, the non-cash gains that once flattered bank earnings have largely evaporated. What remains is the less glamorous reality of core banking operations: credit risk management, cost efficiency, and genuine loan growth in a sluggish economy. In this new environment, maintaining headline profits will be far harder, even before accounting for the dilutive impact of recapitalisation.
That dilution is another underappreciated consequence of the capital rush. Massive share issuances mean that even if banks manage to sustain absolute profit levels, earnings per share and return on equity are likely to decline. Zenith, Access, UBA, and others are dramatically increasing their share counts. The same earnings pie is now being divided among many more shareholders, making individual returns leaner than during the pre-recapitalisation boom. For investors, the optics of strong profits may soon give way to the reality of weaker per-share performance.
Yet banks have pressed ahead, not only out of regulatory necessity but also strategic calculation.
During this period of recapitalization, investors are interested in the stock market with optimism, especially about bank shares, as banks are raising fresh capital, and this makes it easier to attract investments. This has become a season for the management teams to seize the moment to raise funds at relatively attractive valuations, strengthen ownership positions, and position themselves for post-recapitalisation dominance. In several cases, major shareholders and insiders have increased their stakes, as projected in the media, signalling confidence in long-term prospects even as near-term returns face pressure.
There is also a broader structural ambition at play. Well-capitalised banks can take on larger single obligor exposures, finance infrastructure projects, expand regionally, and compete more credibly with pan-African and global peers. From this perspective, recapitalisation is not merely about compliance but about reshaping the competitive hierarchy of Nigerian banking. What will be witnessed in the industry is that those who succeed will emerge larger, fewer, and more powerful. Those that fail will be forced into consolidation, retreat, or irrelevance.
For the wider economy, the outcome is ambiguous. Stronger banks with deeper capital buffers could improve systemic stability and enhance Nigeria’s ability to fund long-term development. The point is that while merging or consolidating banks may make them safer, it can also harm the market and the economy because it will reduce competition, let a few banks dominate, and encourage them to earn easy money from bonds and fees instead of funding real businesses. The truth be told, injecting more capital into the banks without complementary reforms in credit infrastructure, risk-sharing mechanisms, and fiscal discipline, isn’t enough as the aforementioned reforms are also needed.
The rush as exposed in this period, is that the moment Nigerian banks started raising new capital, the glaring reality behind their reported profits became clearer, that profits weren’t purely from good management, while the financial industry is not as sound and strong as its headline figures. The fact that trillion-naira profit banks must return repeatedly to shareholders for fresh capital is not a sign of excess strength, but of structural imbalance.
With the deadline for banks to raise new capital coming soon, by 31 March 2026, the focus has shifted from just raising N500 billion. N200 billion or N50 billion to think about the future shape and quality of Nigeria’s financial industry, or what it will actually look like afterward. Will recapitalisation mark a turning point toward deeper intermediation, lower dependence on speculative gains, and stronger support for economic growth? Or will it simply reset the numbers while leaving underlying incentives unchanged?
The answer will define the next chapter of Nigerian banking long after the capital market roadshows have ended and the profit headlines have faded.
Blaise, a journalist and PR professional, writes from Lagos and can be reached via: [email protected]
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