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By Gloria Ikibah

Sterling Financial Holdings Company Plc has reported a strong financial performance for the first half of 2026, posting a 20.4 per cent increase in profit after tax as the Group’s total assets climbed close to the N5 trillion mark.

The unaudited results for the six months ended June 30, 2026, released on Thursday, showed broad-based growth across major financial indicators, driven by higher interest income, an expanding loan portfolio and sustained growth in customer deposits.

The Group recorded gross earnings of N279.6 billion, representing a 31.5 per cent increase over the corresponding period in 2025. Interest income rose by 33.7 per cent to N223.6 billion, while net interest income increased by 41 per cent to N137.4 billion.

Non-interest income also grew by 23.3 per cent to ₦56 billion, supported by stronger fee income and improved earnings from other operating activities.

Sterling Financial’s balance sheet also recorded significant growth during the period, with total assets rising by 19.3 per cent to N4.67 trillion, while customer deposits expanded by 21.1 per cent to N3.62 trillion, reflecting continued confidence in the Group’s banking operations.

Profit before tax increased by 21.9 per cent to N55.5 billion, while profit after tax rose by 20.4 per cent to N50.3 billion.

The Group also improved its profitability ratios, with return on average equity standing at 20.6 per cent, while return on average assets improved from 2.05 per cent to 2.35 per cent.

Shareholders’ funds grew by 27.8 per cent to N547.7 billion, largely driven by the successful N96.6 billion public offer through which the company raised capital from the issuance of 13.8 billion ordinary shares.

The company also disclosed that its share price had appreciated by more than 15 per cent since the beginning of the year, reflecting stronger investor confidence ahead of the release of its half-year results. Basic earnings per share stood at 77 kobo, reflecting the enlarged share capital following the public offer.

Sterling Financial attributed the performance to ongoing investments in technology and operational efficiency across its subsidiaries, including Sterling Bank, AltBank and SterlingFI.

According to the Group, the modernisation of its technology infrastructure and operating model has improved service delivery, enhanced operational efficiency and strengthened its capacity to support increasing customer activity while maintaining prudent risk management.

The company expressed confidence that its strengthened capital base, expanding deposit base and diversified earnings would position it for stronger growth in the second half of the year.

It noted that the additional capital would continue to support lending to productive sectors of the economy while enabling the Group to sustain long-term value creation for shareholders.

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President Bola Tinubu failed to include primary and secondary school qualifications in the educational qualifications section of the personal particulars submitted to the Independent National Electoral Commission, INEC, for the 2027 presidential election.

The documents, published by INEC on Saturday in line with its revised timetable for the 2027 general election, contain the nomination papers and supporting credentials of presidential and vice-presidential candidates.

A review of Tinubu’s EC9 nomination form shows that the President listed only a Bachelor of Science (B.Sc.) degree in Business Administration obtained from Chicago State University in 1979 under the educational qualifications section.

The sections provided for his primary and secondary school qualifications were left blank.

However, Tinubu attached copies of his university degree certificate and National Youth Service Corps, NYSC, certificate to his nomination papers.

In the form, the President stated that he was born on March 29, 1952, in Lagos and described his occupation as “Politician.”

He also declared that he worked at Mobil Nigeria Limited between 1983 and 1992 before serving as Governor of Lagos State from 1999 to 2007.

He listed his current employer as the Federal Government of Nigeria from 2023 to date and stated that he had never been dismissed from public service.

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The Chairman of the Independent National Electoral Commission, INEC, Prof. Joash Amupitan, SAN, has described misinformation and disinformation as the greatest threat to the August 15 Osun State Governorship Election, urging the media to prioritize verified and ethical reportage.

He made the call on Saturday in Osogbo during an interactive session with media executives, describing journalists as the “Fourth Estate of the Realm” and critical stakeholders in the democratic process.

“However, your role as the Fourth Estate is critical to the survival of the process. In this final day window, the greatest threat we face is not technical failure, but the pathology of misinformation and disinformation,” the INEC Chairman said.

“Fake news, manufactured election-day panics, and the unauthorized declaration of parallel results are direct assaults on our public peace and democratic stability.”

He said the Commission has accredited field reporters through its dedicated portal “because we want you to see everything,” and in return demanded “a commitment to verified, ethical, and dispassionate reporting.”

“Verify your facts before you broadcast. When a glitch occurs in a single polling unit, do not report it as a systemic failure across the entire state,” Prof. Amupitan charged.
“Use your channels to educate voters: remind them that No PVC means No Voting, and that vote-buying remains a criminal offense that our partners at the EFCC and ICPC have been mandated to curb.”

Giving an update on readiness, the Chairman said the just-concluded mock accreditation proved the resilience of the BVAS.
“The Bimodal Voter Accreditation System (BVAS) demonstrated optimal field resilience. On average, it took between 30 seconds to 2 minutes to successfully verify a voter using either their fingerprints or facial recognition,” he stated.
“As a result, we have increased the total number of BVAS for the election from 4,427 to 5,130 so as to service split polling units in large PUs in Ife East, Irewole, Egbedore, Ede North, Osogbo. In the process, we increased the number of back-ups from 664 to 1,328 for quick intervention in case of any malfunction.”

Prof. Amupitan also addressed insecurity, saying INEC has moved “from reactive monitoring to proactive prevention” through ICCES. He listed hotspot LGAs to include Atakumosa East and West, Boripe, Ede North and South, Ife Central, Ifedayo, Ila, Osogbo, Ifelodun, and Oriade.

On inclusivity, he reaffirmed the Commission’s commitment to vulnerable voters.
“Democracy is incomplete if it excludes vulnerable populations. The Commission has integrated practical assistive devices across polling locations based on our disability mapping in Osun State. We have provisions for braille ballot guides for visually impaired voters; magnifying glasses for voters with albinism and low vision; EC40H poster manifests for hearing-impaired citizens and Priority Voting Queues for Persons with Disabilities (PWDs), pregnant women, nursing mothers, and the elderly,” he said.

The Chairman said 32,000 NYSC members have been engaged as ad-hoc staff via the INECPRES portal and that training for Supervisory Presiding Officers has been concluded.

“We do not care who wins the election; we only care how they win. Our sole job is to ensure that the process is clean, that every valid vote counts, and that the declaration reflects nothing but the true sovereign will of the Osun electorate,” Prof. Amupitan concluded.

The session had in attendance National Commissioners, the Osun REC Barrister Oluwatoyin Babalola, NUJ and BON leadership, Bureau Chiefs, Editors and other senior media executives.