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Ovia, ex-Zenith Bank boss swings into luxury apartments *Flats hit $2.8million price tag   

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Jim Ovia, one month after exit as Chairman of Zenith Bank Plc, is lunging into the real estate business, in search of the “mega bucks,” with the price tag of one of his first proposed luxury apartments in Lagos put at $2.8million (N3.8billion).

The iconic banker and largest shareholder of the bank reputed to be the biggest in Nigeria, with branches spreading across Africa and beyond, was quoted in a report on ARISE NEWS Television as saying that the property sector offered better returns than banking.

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The report said the 74-year-old would commence with the Quantum Luxury Properties Ltd. – a two high-end residential projects in Lagos – housing a 26-storey Metropolitan Towers, with an expected unit price starting from $1.85 million, and the 44-unit Quantum Luxury Towers, going as high as $2.8 million starting price.

The accomplished banker, who left his post as Chairman after a 12-year-two-term stint allowable by law was said to have unveiled the plan during an interaction at his office at Civic Towers in Lagos.

There, Ovia reportedly told his visitors that both projects were already attracting strong interest from buyers and had already recorded significant sales, adding: “Real estate is more profitable than banking. I’m moving into real estate full-time.”

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The report, while citing trends in the luxury property market in Nigeria’s main commercial centre now known as a mega city, maintained that it had continued to attract wealthy investors seeking protection from inflation, currency depreciation and limited investment alternatives, also quoted experts in the industry to back up the assertion.

Citing the confirmation of Diya Fatimilehin & Co., Nigeria’s foremost estate surveying firm, the report stated that rental prices in Lagos’ luxury districts of Banana Island, Ikoyi and Victoria Island rose by 51 per cent between 2024 and 2025, reinforcing demand for premium real estate.

It however quoted Jubril Enakele, Chief Executive Officer of IRON Capital Partners and a former executive within Zenith’s investment banking operations, as saying that Ovia’s interest in the sector predates his latest move.

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“Mr. Ovia’s interest in real estate started much earlier than just now,” Enakele was quoted as saying, adding that the focus on design, infrastructure and asset quality of the retired banker had long been evident in projects associated with the banker.

Ovia stepped down as chairman of Zenith Bank on May 5 after completing the maximum 12-year tenure allowed by regulators. While he remains the bank’s largest individual shareholder, his departure marks the end of a leadership era at the institution he founded in 1990 with an initial capital base of about ₦20 million.

Under his leadership, Zenith Bank grew into Nigeria’s largest lender by market value and one of the country’s most profitable financial institutions. The bank recorded profits exceeding ₦1 trillion in both 2024 and 2025.

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Beyond banking, Ovia has built a portfolio of investments that includes Civic Centre and Civic Towers in Lagos, the sale of Visafone to MTN Group, and an early investment in Moniepoint.

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‎BREAKING: Terrorists strikes another school! *Kidnap principal, students, NECO official!

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The echoes of the drums rolled out to celebrate the rescue of the 44 teachers and students, kidnapped from some schools in Oyo State, after 56 days in the bush, would surely be disrupted abruptly, with the divergent echoes of a fresh abduction, this time coming from Kogi State.

Reports indicate that the gunmen, struck on Tuesday at the Government Secondary School, Odo-Ekina, in Dekina Local Government Area of the state, abducting four students, the school principal and a National Examinations Council (NECO) ad hoc staff member.

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‎Authorities of the Kogi State Police Command, who immediately unleashed their operatives in hot pursuit of the abductors, said the attack occurred at about 5:25 p.m. while the students were writing their NECO examination.

Saliu Oyiza Afusat, an Assistant Superintendent of Police (ASP) and spokesman of the command, said a combined team of police personnel and other security agencies has launched a search-and-rescue operation following the incident.

Informing that one of the students was actually rescued immediately, she said efforts were ongoing to secure the release of the remaining victims and apprehend the attackers, adding that Naziru Bello Kankarofi, the state Commissioner of Police, alongside the Brigade Commander and the State Security Adviser to the Governor, Commodore Jerry Omodara (Rtd), were already on the way to the scene for an on-the-spot assessment.

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Trump shelves 20 per cent fee for ships on Strait of Hormuz

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Oil prices are expected to go down now with the announcement of Donald Trump, US President that he will no longer impose a 20 percent “safe passage” fee on ships passing through the Strait of Hormuz.

The POTUS, hinged his reversal of the decision on the intervention from some Gulf countries, who pleaded with him not to toe the line due to the massive economic impact the decision would make on the region.

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Indeed, oil prices had shot up immediately Trump announced the new levy on Monday while declaring the US ‘the guardians of the Hormuz strait,’ a measure which he said was to pay for the cost of guarding the volatile area in order keep supply of oil flowing.

Reports said that Gulf allies of the US worked frantically to get Trump on the phone in time to talk him out of the idea altogether, while a flurry of appeals came from Saudi Arabia, the United Arab Emirates, Bahrain and Qatar.

In response, the POTUS, posting on his Truth Social platform, wrote: “Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States.”

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Trump, who said the investments would be “MASSIVE but, at the same time, extraordinarily good for them, and their future,” added that the deals would see factories, plants, and equipment pour into the US at “Historic levels.”

The Gulf nations have committed to invest trillions of dollars in the US, though it remains unclear how much of that they will actually spend over the next several years.

Meanwhile, the US continues to bomb Iran in what appears to be a resumption of active conflict between both countries, despite an ongoing roadmap to end the conflict.

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Fake office: How police pulled out Adeyemi, PFIPC boss from hiding!

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Reports say operatives of the Osun State Police Command, and those of the Department of State Services (DSS) had tracking the trail of Adeniyi Adeyemi, controversial Director General of the Presidential Foreign Intervention Promotion Council (PFIPC), for weeks, before he was eventually pulled out of his hole on Tuesday.

However, the duo, were said to have pulled back after failing to track him through his mobile phones, which he had reportedly switched off for about two days, making it difficult to locate him, leaving the stage for the members of the Police Intelligence Response Team (PI-RT) led by Moses Lohor, a Chief Superintendent of Police (CSP).

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Lohor, said to have previously served as the Commander of the Anti-Kidnapping Squad of Osun State, and reported to have been involved in high-profile security operations and controversies, after taken over fielded his men to pick up signals from their well-oiled signal networks.
Regarded by many Osun residents as one of the key security officers who contributed significantly to the peace and stability enjoyed in Ilesa and other parts of the state during his tenure, he was said to have relied on his contacts before his transfer out of the state, said to have raised concerns from the public about the security situation he would be leaving behind.
His exit from the state was said to be hinged on an incident in 2024, in which he allegedly shot one Iyanda Alowonle, then Chairman of Osun State Motor Transport System, in the stomach at the police station in the state prompting an order for his arrest by then Inspector General of Police (IGP).

His effort was said to have paid off when he successfully tracked down the controversial PFIPC, boss, who was seen on Tuesday evening, in a shot video on social media undergoing interrogation, and eventually handed him over to Ibrahim Gotan, Commissioner of Police in the state.

The PUNCH quoted one of the sources as saying: “The arrest (of Adeyemi) took place on Tuesday morning by the IRT squad, who immediately moved him to Abuja. After he was arrested, he was taken to Ibadan and from there to Abuja.”

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