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Zenith Bank Boss, Onyeagwu Bags UNN Doctorate Degree in Business Administration

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The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, was on Saturday, March 25, 2023, conferred with a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka. The award, which is in recognition of his immense achievements as Group Managing Director/CEO of Zenith Bank as well as his contributions to the growth of the financial services sector in Nigeria and across the African continent, was conferred on him during the 50th convocation ceremony of the University.

Speaking during the conferment ceremony, the Vice Chancellor of the University of Nigeria, Prof. Charles Igwe, congratulated Dr.

Ebenezer Onyeagwu for distinguishing himself in his career and for his service to humanity, which made him worthy to receive the prestigious Doctorate Degree from Nigeria’s first indigenous University.

In his acceptance speech, Dr. Ebenezer Onyeagwu expressed his gratitude to the University of Nigeria for finding him a worthy recipient of the Doctorate Degree in Business Administration of one of the leading universities in Nigeria, considering the very rigorous process of selection of awardees by the institution. In his words, “for me to have been considered and to have passed through the meticulous selection process makes it the more dignifying because I have no connection with the University.”

Noting that the award represents a validation of the outstanding corporate governance, ethical leadership, and overall outstanding performance that Zenith Bank is recording, Dr. Onyeagwu dedicated the award to the board and management of Zenith, especially the Founder and Chairman, Dr. Jim Ovia, CFR, who has remained a mentor, a leader and a source of inspiration to everyone at the Bank and beyond; the staff, for being the shoulder and proverbial base of the pyramid upon which his achievements and success as CEO of the leading financial institution in Nigeria rests; the Bank’s customers for their unflinching loyalty to the brand; and to his family for their unceasing love and support.

Presenting the citation of Dr. Ebenezer Onyeagwu to the assemblage at the 50th Convocation Ceremony for the conferment of the Doctorate Degree in Business Administration, the orator of the University of Nigeria, Dr. Ikenna Onwuegbuna noted that Dr. Ebenezer Onyeagwu is an alumnus of Auchi Polytechnic, the University of Oxford, England and Salford Business School, University of Salford, Manchester, United Kingdom, Delta State University, Abraka. Also, he is an alumnus of Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, and the Harvard Business School of Harvard University in the United States.

Dr. Ebenezer Onyeagwu is a Fellow (FCA) of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Nigerian Institute of Management (NIM), The Chartered Institute of Bankers of Nigeria (CIBN), the Institute of Credit Administrators (ICA) and Senior Associate Member, Risk Management Institute of Nigeria (RIMAN).

Dr. Ebenezer Onyeagwu is the Chairman of the Body of Banks’ Chief Executive Officers, Nigeria and Chairman of Zenith Pensions Custodian Limited and Zenith Nominees Limited. He is also on the Board of Zenith Bank (UK) Limited, FMDQ Holdings Plc and Lagos State Security Trust Fund (LSSTF). Ebenezer Onyeagwu is a member of the International Monetary Conference (IMC), the Wall Street Journal CEO Council, member of the African Trade Gateway Advisory Council of the Africa Export-Import Bank (Afreximbank), and member of the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN). He also served on the board of Zenith Bank Ghana Limited, Zenith General Insurance, Zenith Securities Limited, Zenith Assets Management Company, Zenith Medicare Limited, and Africa Finance Corporation (AFC).

Dr. Onyeagwu’s track record of excellence has also seen him win several individual awards, including being named Bank CEO of the Year (2019) by Champion Newspaper, Bank CEO of the Year (2020, 2021 & 2022) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper.

Other recipients of  Doctorate Degrees at the 50th convocation ceremony include former Governor of Delta State, Dr. Emmanuel Uduaghan, who was conferred with the Doctor of Public Administration, and the Chairman of Hobark International Limited, Dr. Obiora Fubara, who received the Doctor of Business Administrat ion. A retired Justice of the Supreme Court of Nigeria, Justice Mary Odili, was conferred with the Doctor of Law; however, her conferment was deferred to a later date because she was unavoidably absent at the ceremony.

Education

FG Okays N4bn to Settle Stranded Nigerian Scholars’ Allowances

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The Federal Government has approved N4bn for the payment of allowances to Nigerian students studying abroad under the Bilateral Education Agreement.

The approval follows outcries from the beneficiaries who had lamented that they were being pushed into forced labour and prostitution due to prolonged hardship occasioned by the nonpayment of their allowance by the Federal Government.

The Minister of Education, Tunji Alausa, disclosed that the fund, representing part of the N8bn budgeted for the programme this year, had been released as the first tranche to address outstanding payments owed to the scholars.

“The Federal Ministry of Finance has approved N4bn to pay the first tranche, and I am working with the Minister of Finance to settle the remaining N4bn. Hopefully, in the next few weeks, they will receive all their allowances for 2025 and 2026.

According to him, efforts are ongoing between both ministries to ensure that all outstanding payments are cleared, with the balance expected to be released within four weeks.

The development follows a disturbing viral video from affected students across countries, including Russia, Serbia and Venezuela, who said delays in stipends spanning over a year had left many struggling to survive, with some resorting to menial jobs while others claimed female students had been forced into prostitution.

The outcry comes barely a year after the Federal Government terminated the scholarship programme and promised to ensure that current students are funded to complete their studies.

In 2025, the minister cited inefficiency and misallocation of national resources as reasons for terminating the programme, following similar complaints from previous beneficiaries.

The programme, established through diplomatic partnerships, had enabled Nigerian students to study in countries such as China, Russia, Hungary, Morocco, Algeria, Egypt and Serbia.

He explained that the scheme had become unsustainable, noting that the government planned to spend about N9bn on just 1,200 students in 2025.

However, the minister assured that all current beneficiaries of the scheme would continue to receive full government support until they complete their studies and return to Nigeria.

Despite assurances that current beneficiaries would not be affected, several students said they had not received stipends for over two years, leaving them stranded.

In the viral video, about 16 Nigerian scholars in Russia appealed to the government for urgent intervention, describing their situation as dire.

One of the students, a fifth-year medical student in Rostov, said many had been pushed into extreme conditions to survive.

A student leader in Russia, who spoke on condition of anonymity, confirmed the development recently, lamenting that the rising cost of living and currency challenges had worsened their situation.

She added that restrictions on student work permits in some countries further limit their ability to earn income.

Another student in Venezuela described the situation as abandonment, noting that scholars from other countries receive regular support from their governments.

He said, “It is only Nigerians that are abandoned. Other countries like Mozambique, Burkina Faso, and Brazil, send delegates to check on their students and pay them, but no one comes from Nigeria.

A parent of an affected scholar, who spoke anonymously with our correspondent, said relevant government agencies had been engaged to facilitate the payment.

“The situation requires prompt attention. These children were sent abroad through a government programme. There have been delays in stipends despite repeated appeals to the Ministry of Finance, Ministry of Education and other agencies.”

The Federal Government had earlier, in January, dismissed claims that Nigerian scholarship students in Morocco were abandoned, following a viral video that showed some students facing hardship, including homelessness and lack of medical support.

The video, shared on X by activist Martins Otse, featured interviews with Nigerian students in Morocco who alleged they had gone for years without receiving financial support despite being beneficiaries of government scholarships.

Reacting, the Federal Ministry of Education, in a statement signed by its Director of Press and Public Relations, Boriowo Folasade, insisted that no student on a valid Federal Government scholarship had been neglected.

Alausa was quoted as saying that all beneficiaries enrolled under the Bilateral Education Scholarship Programme before 2024 had received payments up to the 2024 budget year in line with government obligations.

The statement noted that any delays in outstanding payments were due to fiscal constraints and were being addressed through ongoing engagements between the Ministry of Education and the Ministry of Finance.

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Education

FG Okays N4bn to Settle Stranded Nigerian Scholars’ Allowances

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The Federal Government has approved N4bn for the payment of allowances to Nigerian students studying abroad under the Bilateral Education Agreement.

The approval follows outcries from the beneficiaries who had lamented that they were being pushed into forced labour and prostitution due to prolonged hardship occasioned by the nonpayment of their allowance by the Federal Government.

The Minister of Education, Tunji Alausa, disclosed that the fund, representing part of the N8bn budgeted for the programme this year, had been released as the first tranche to address outstanding payments owed to the scholars.

“The Federal Ministry of Finance has approved N4bn to pay the first tranche, and I am working with the Minister of Finance to settle the remaining N4bn. Hopefully, in the next few weeks, they will receive all their allowances for 2025 and 2026.

According to him, efforts are ongoing between both ministries to ensure that all outstanding payments are cleared, with the balance expected to be released within four weeks.

The development follows a disturbing viral video from affected students across countries, including Russia, Serbia and Venezuela, who said delays in stipends spanning over a year had left many struggling to survive, with some resorting to menial jobs while others claimed female students had been forced into prostitution.

The outcry comes barely a year after the Federal Government terminated the scholarship programme and promised to ensure that current students are funded to complete their studies.

In 2025, the minister cited inefficiency and misallocation of national resources as reasons for terminating the programme, following similar complaints from previous beneficiaries.

The programme, established through diplomatic partnerships, had enabled Nigerian students to study in countries such as China, Russia, Hungary, Morocco, Algeria, Egypt and Serbia.

He explained that the scheme had become unsustainable, noting that the government planned to spend about N9bn on just 1,200 students in 2025.

However, the minister assured that all current beneficiaries of the scheme would continue to receive full government support until they complete their studies and return to Nigeria.

Despite assurances that current beneficiaries would not be affected, several students said they had not received stipends for over two years, leaving them stranded.

In the viral video, about 16 Nigerian scholars in Russia appealed to the government for urgent intervention, describing their situation as dire.

One of the students, a fifth-year medical student in Rostov, said many had been pushed into extreme conditions to survive.

A student leader in Russia, who spoke on condition of anonymity, confirmed the development recently, lamenting that the rising cost of living and currency challenges had worsened their situation.

She added that restrictions on student work permits in some countries further limit their ability to earn income.

Another student in Venezuela described the situation as abandonment, noting that scholars from other countries receive regular support from their governments.

He said, “It is only Nigerians that are abandoned. Other countries like Mozambique, Burkina Faso, and Brazil, send delegates to check on their students and pay them, but no one comes from Nigeria.

A parent of an affected scholar, who spoke anonymously with our correspondent, said relevant government agencies had been engaged to facilitate the payment.

“The situation requires prompt attention. These children were sent abroad through a government programme. There have been delays in stipends despite repeated appeals to the Ministry of Finance, Ministry of Education and other agencies.”

The Federal Government had earlier, in January, dismissed claims that Nigerian scholarship students in Morocco were abandoned, following a viral video that showed some students facing hardship, including homelessness and lack of medical support.

The video, shared on X by activist Martins Otse, featured interviews with Nigerian students in Morocco who alleged they had gone for years without receiving financial support despite being beneficiaries of government scholarships.

Reacting, the Federal Ministry of Education, in a statement signed by its Director of Press and Public Relations, Boriowo Folasade, insisted that no student on a valid Federal Government scholarship had been neglected.

Alausa was quoted as saying that all beneficiaries enrolled under the Bilateral Education Scholarship Programme before 2024 had received payments up to the 2024 budget year in line with government obligations.

The statement noted that any delays in outstanding payments were due to fiscal constraints and were being addressed through ongoing engagements between the Ministry of Education and the Ministry of Finance.

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Education

NCE Applicants with Four Credits Exempted From UTME – Alausa

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The Federal Government has approved exemption of candidates seeking admission into the National Certificate in Education (NCE) programme with a minimum of four credits from sitting for the Unified Tertiary Matriculation Examination (UTME).

The Minister of Education, Dr.

Tunji Alausa, announced the policy on Monday in Abuja, at the 2026 Policy Meeting on Admissions into Tertiary Institutions organised by the Joint Admissions and Matriculation Board (JAMB).

The event also featured the 6th Edition of the National Tertiary Admissions Performance-Merit (NATAP-M) awards.

Alausa said the decision followed consultations with stakeholders aimed at expanding access to teacher education and strengthening enrollment in Colleges of Education (CoE) nationwide.

He explained that eligible candidates would, however, be required to register with JAMB for proper screening, verification and issuance of admission letters through the Central Admissions Processing System (CAPS).

According to him, the exemption is part of deliberate reforms to harness the admission capacity of colleges of education, particularly within local communities.

“Accordingly, candidates seeking admission into the NCE programme, who possess a minimum of four credit passes, will no longer be required to sit for the UTME.

“However, it is imperative to emphasise that such candidates shall mandatorily register with JAMB, and their credentials shall be duly screened, verified, and certified for the issuance of admission letters thr“In recognition of this reality, the Federal Ministry of Education, in consultation with relevant stakeholders, has taken a deliberate policy position.

ough CAPS, in accordance with extant regulations.”

The minister added that the exemption would also apply to candidates seeking admission into National Diploma programmes in non-technology agricultural and agriculture-related courses.

He said the measure was designed to ease pressure associated with UTME, while encouraging participation in critical sectors essential to national development.

He reiterated that admissions conducted outside CAPS remained illegal and would not be recognised by the government.

He also warned that institutions violating established admission procedures risked sanctions, including suspension of operating licences where applicable.

Alausa reaffirmed the government’s position on 16 years as the minimum admission age into tertiary institutions, noting that the decision aimed at maintaining inclusivity and academic readiness.

He noted that the federal government was implementing wide-ranging reforms in the education sector focused on access, quality, governance and accountability.

He commended JAMB for deploying technology-driven solutions that enhanced fairness and credibility in the admissions process.

He added that efforts were ongoing to deepen inclusion for Persons living With Disabilities through application fee waivers and targeted support initiatives.

“This initiative is not only humane but also a powerful affirmation of our national commitment to equity and equal opportunity.

“The increasing participation of candidates with disabilities in our examinations and admissions processes is clear evidence that when barriers are removed, potential is unleashed,” Alausa said.

The minister further disclosed that the government was advancing digital transformation in education through expanded computer-based testing and integration of artificial intelligence and emerging technologies into curricula.

He said the federal government had equally achieved progress in stabilising the university system, following successful renegotiation of agreements aimed at ensuring uninterrupted academic calendars.

Alausa reaffirmed the government’s commitment to combating examination malpractice through strengthened verification systems and enhanced collaboration among relevant agencies.

He urged stakeholders to uphold integrity and fairness in admissions decisions, noting that outcomes of the policy meeting would affect millions of Nigerian youths seeking tertiary education opportunities.

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