NEWS
Jaiz Bank Profit Rises 28 Per Cent, Eyes SME, Retail Banking Growth
By Tony Obiechina, Abuja
Jaiz Bank Plc has unveiled plans to deepen its retail and Small and Medium Enterprises (SME) banking operations as part of its growth strategy for the 2026 financial year, following a strong financial performance in 2025.
The Managing Director and Chief Executive Officer of Jaiz Bank, Dr.
Haruna Musa, disclosed this while briefing journalists during the bank’s 14th Virtual Annual General Meeting (AGM) held in Abuja on Wednesday.According to Musa, the bank will intensify efforts to expand its retail and SME market penetration, strengthen financial inclusion through ethical banking solutions, and enhance shareholder value through sustainable growth and profitability.
He noted that the bank’s cost-to-income ratio improved from 60.42 per cent in 2024 to 58.09 per cent in 2025, reflecting gains from digital transformation, process optimisation, disciplined cost management, and improved operational efficiency.
Musa expressed confidence that the ratio would continue to decline as management implements additional cost-cutting measures aimed at boosting efficiency.
As part of its expansion drive, the bank plans to open 10 additional branches before the end of the year to improve customer reach and service delivery across the country.
Reviewing the bank’s 2025 performance, Musa said total assets grew by 19 per cent to N1.29 trillion, up from N1.08 trillion in 2024. Customer deposits also increased by 24 per cent, rising from N904 billion to N1.12 trillion, a development he attributed to growing customer confidence in the bank’s products and services.
Net risk assets and investments climbed by 27 per cent to N849 billion from N671 billion, underscoring the bank’s commitment to financing productive sectors of the economy while maintaining prudent risk management standards.
Gross earnings rose by 24 per cent to N102.81 billion in 2025, compared with N82.87 billion in the previous year, while Profit Before Tax (PBT) increased by 28 per cent to N31.24 billion from N24.44 billion in 2024.
Musa said the strong earnings performance was driven by increased financing activities, higher investment income, and growth in customer transactions.
“The results underscore our ability to generate sustainable earnings while remaining faithful to our principles of ethical and value-based banking,” he said.
He added that the bank’s Capital Adequacy Ratio improved significantly from 23.87 per cent to 26.89 per cent, providing sufficient capacity to support future growth, absorb potential shocks, and take advantage of emerging opportunities in the financial services sector.
Musa further revealed that the bank’s Statutory Liquidity Ratio stood at 43.45 per cent, well above regulatory requirements, reflecting effective deployment of funds into productive financing and investment opportunities.
He reaffirmed the bank’s commitment to building a stronger, more innovative and inclusive financial institution that delivers sustainable value to stakeholders while advancing ethical finance in Nigeria and beyond.
NEWS
Senate Approves State Police Bill after Manual Voting Process
By Eze Okechukwu, Abuja
The Senate on Wednesday, recorded a historic milestone in Nigeria’s constitutional reform process as it passed the State Police Bill, paving the way for the creation of state-controlled police services, while also inaugurating four newly elected senators following recent by-elections conducted by the Independent National Electoral Commission (INEC).
The passage of the Constitution Alteration Bill on State Police marks one of the most significant legislative efforts to decentralise policing in Nigeria and strengthen the country’s response to growing security challenges, including banditry, terrorism, kidnapping and communal conflicts.
The bill was approved after a clause-by-clause consideration of the report of the Senate Committee on the Review of the Constitution, chaired by Deputy Senate President Barau Jibrin. More than two-thirds of senators voted in support of the proposal through a manual voting process adopted after lawmakers abandoned plans to use electronic voting devices due to technical concerns.
Announcing the passage of the legislation, Senate President Godswill Akpabio described the exercise as a critical constitutional undertaking. Senate Leader Opeyemi Bamidele, who led debate on the bill, urged lawmakers to support what he called a necessary reform to improve internal security and local law enforcement capacity.
A major provision of the bill empowers state governors to appoint Commissioners of Police for their respective states, subject to confirmation by state Houses of Assembly. While the Federal Police Service will continue to be headed by the Inspector-General of Police, each state police command will be led by a commissioner responsible for policing within the state.
To address longstanding concerns about possible political misuse of state police, the legislation includes safeguards prohibiting commissioners from arresting, detaining, investigating or deploying force against individuals, political parties or groups solely for criticising government, except in accordance with the law.
The Senate’s decision was witnessed by several top government officials, including Kaduna State Governor Uba Sani, Ogun State Governor Dapo Abiodun, Ondo State Governor Lucky Aiyedatiwa and the Chief of Staff to the President, Femi Gbajabiamila.
The bill now moves closer to becoming law, subject to further constitutional requirements, including approval by state Houses of Assembly.
Earlier during plenary, Akpabio administered the oath of office to four newly elected senators who emerged victorious in last Saturday’s by-elections.
The lawmakers inaugurated were Olaka Nwogu (PDP, Rivers South East), Enwulu Anza (APC, Nasarawa North), Ikeji Asogwa (APC, Enugu North) and Dayo Faduyile (APC, Ondo South), filling vacancies created by deaths and a diplomatic appointment.
Welcoming the new senators, Akpabio described the Senate as “a family of the most elite club in the world” and urged them to focus on national service above partisan interests. He also advised them to familiarise themselves with the 1999 Constitution and the Senate Standing Orders to effectively discharge their legislative responsibilities.
The Clerk of the Senate, Emmanuel Odo, administered the Oath of Allegiance and Oath of Office, while Governor Aiyedatiwa and other dignitaries witnessed the ceremony.
Foreign News
South Sudan Sets December for Long-delayed First-ever Election
There have been a number of false dawns when it comes to elections in South Sudan, but the authorities have said the long-delayed first-ever vote will take place in December.
The leaders of the world’s youngest country have not been tested at the ballot box since independence in 2011 and President Salva Kiir has been in office for 15 years.
According to the original plan, the general election was supposed to have happened in 2015 but a civil war meant that had to be postponed.
The 2018 peace deal, which created a unity government with Kiir at its helm and rival Riek Machar as his deputy, envisioned an election in 2022 but the vote was never organised amid tension between the country’s leaders.
Continued issues between the two men could yet delay the vote further.
Machar was sacked as vice-president and arrested earlier last year and charged with murder, treason and crimes against humanity, which he denies. He has been under house arrest in the capital, Juba, since March last year as fighting persists in some areas of the country.
There have been warnings, including form the UN that the violence could once again spill over into full-scale civil war.
When announcing the 22 December date for the vote, electoral chief Abednego Akok Kacuol acknowledged that unresolved legal amendments and persistent funding gaps continued to hamper poll preparations.
“The political will is not ours; it lies with the government,” he said.
Asked what would happen if funds were not secured within six months, Kacuol said his commission would continue planning while adjusting toward a “realistic electoral timeline”.
In a statement on Monday, the presidency said Kiir was committed to implementing the 2018 peace agreement and keeping South Sudan on track toward peaceful, democratic elections.
It said preparations for inter-party dialogue on election-related issues were progressing and would provide a platform for building consensus among political stakeholders.
But opposition groups and civil society organisations have raised concerns over security conditions, political freedoms and electoral readiness.
The Sudan People’s Liberation Movement in Opposition (SPLM-IO), the party of Machar, warned about the poll preparations, saying holding elections remained a “dangerous” matter.
“Anyone coming to register voters and campaign in territories controlled by the mighty SPLM-IO, you will be a prisoner of war,” Nathaniel Pierino, acting chairperson of the group, said in a post on Facebook.
“Be reminded, the country is at war,” he added.
NEWS
Senate to Consider Bill on State Police This Week, Says Bamidele
By Eze Okechukwu, Abuja
The Senate has scheduled amendments to the 1999 Constitution to provide for the establishment of State Police in the country, with an indication that it will be transmitted to the 36 State Houses of Assembly for further legislation.
The leader of the Senate, Senator Opeyemi Bamidele, in a statement yesterday said all stakeholders across the federation “are on the same page with the National Assembly on the establishment of State Police.
”Bamidele explained that the National Assembly would isolate the aspect from the ongoing constitution amendment and pass it into law due to its national exigency.
He also revealed that President Bola Ahmed Tinubu and all the state governors were on the same page with the national assembly on the state police, adding that the legislative week, which begins today, would be a crucial one for the Senate as the issue of state police would top their agenda.
“Our position is very clear on state police. We are standing with Nigerians on the issue of state police. All strata of the federation have made it clear that there cannot be a better time to establish a state police than now.
“That is where we stand. Where we are coming in is to now help translate this popular desire of the people into reality as elected representatives of the Nigerian people.
“We came to the conclusion that we are going to pass the constitutional amendment in this respect to make a provision for the state police. If I can tell you as of today, that will come to fruition this very week because there is no need to allow any further delay
“There have been a series of meetings between the National Assembly. When I say the national assembly, I mean Chairman, Senate Committee on the Review of the 1999 Constitution, Senator Barau I. Jibrin and Chairman, House of Representatives Committee on the Review of the 1999 Constitution, Rt. Hon. Benjamin Kalu, both of whom are representing the National Assembly.
“They had been in a series of meetings with the office of Attorney-General, Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila; Inspector-General of Police, Mr. Tunji Disu and other stakeholders in the last one week and that is why I can sit here to tell you that we’re pursuing that this week.
“It is going to be the subject we will be dealing with this week. What we have resolved to do is to isolate it with the rest of the bills that we have proposed under constitutional amendment so that we can vote on this as soon as possible.
“The bill can as well be on its way to the 36 States House of Assemblies as soon as possible because you know we will need two-third of the state assemblies to approve it before the president can assent to it.
“The president is also with us on this proposal. I am sure he cannot wait for the bill to come to him for assent. I am sure the majority of our governors as we know are in support of this bill. The state assemblies are also waiting for this bill to come. We will initiate the proposal for the creation of state police within the week”, he said.
Gbajabiamila had disclosed that President Tinubu would receive a comprehensive report on the proposed creation of state police as consultations on the constitutional framework for its establishment approached completion.


