May 25, (THEWILL) — The Finance Correspondents Association of Nigeria (FICAN) has elected a new executive to pioneer its affairs for the next three years beginning from September, 2026.
The election produced the association’s first female chairman in its 36-year history, marking a significant milestone for the association and financial journalism in the country.
Bukola Aro-Lambo of Leadership Newspapers emerged as chairman during the association’s election held at its secretariat in Lagos on May 21, 2026, becoming the first woman to lead the body since its establishment in 1990.
Her emergence is seen by members as a defining moment for the association, which comprises journalists covering Nigeria’s financial services sector, including banking, capital markets, insurance, pensions, and the broader economy.
Other elected officers include Tony Chukwuyem of New Telegraph as vice chairman, while Abiola Ismail of MITV emerged as general secretary.
The election also produced Ebere Obike-Franklin of Radio Nigeria as assistant general-secretary, Salamatu Ejembi of the Voice of Nigeria (VON) as financial secretary, and Comfort Ekeleme of Champion Newspapers as treasurer.
Members at the election described Aro-Lambo’s emergence as reflective of the growing role of women in Nigeria’s media and financial reporting landscape, noting that the development could encourage greater inclusiveness and diversity within the profession.
She had previously served as treasurer and vice chairman.
FICAN, one of the most influential beats associations in Nigeria’s media industry, plays a critical role in reporting and shaping conversations around monetary policy, banking reforms, capital market developments, inflation, exchange rates, pensions, insurance, and other macroeconomic issues.
The newly elected officials will be sworn-in at the association’s annual conference scheduled for September 19th and 20th in Lagos, during which the current chairman and general-secretary will both transit to ex-officio status in the executive in line with the group’s constitution.
Some stakeholders have commended FICAN on its smooth transition to a new leadership signifying the association’s commitment to professionalism and accountability.
Among these is Nasir Ramon, group head of media and external relations at the United Bank for Africa (UBA) who applauded FICAN for the strategic relationship between it and the financial services institution over the years.
Ramon wished the new executive a prosperous and result-oriented future.
Nigeria’s Trade Surplus Rises 220% to $480m
Nigeria recorded a $480 million trade surplus in January 2026, driven by a 4.46 percent increase in export receipts to a record $4.68 billion, largely fueled by petroleum products. This represents a 220 percent month-on-month (MoM) increase in trade surplus when compared to the $150 million record in December 2025.
The Central Bank of Nigeria, CBN, disclosed this in its January Monthly Economic Report, noting that while export earnings rose import bills also increased by 3.0 percent to $4.77 billion, with oil and gas products accounting for 83.12 percent of total export receipts.
CBN said: “Transactions in the goods account resulted in a higher trade surplus, owing to an increase in export receipts. “Provisional data indicated that the trade surplus rose to $480 million, from $150 million in the preceding month. “The higher surplus was driven by the 4.46 per cent increase in export to $4.68 billion, following the increase in the export of petroleum products.
“Import bills also increased by 3.0 per cent to $4.77 billion, on account of due to a decline in the import of oil products.
“Analysis of export by composition showed that crude oil, gas, and refined petroleum products accounted for 83.12 per cent of total receipts, while non-oil exports earnings constituted the balance.
“In terms of imports, non-oil products accounted for 86.43 per cent, while oil imports constituted the balance.
“Aggregate receipts from oil exports rose by 7.46 per cent to $3.89 billion from $3.62 billion, due largely to the increase in crude oil export receipts. A further disaggregation showed that crude oil export receipts increased to $2.47 billion from $2.72 billion in the preceding month, occasioned by a rise in the average price of crude oil due to supply disruptions.
“Similarly, earnings from gas exports rose to $750 million from $720 billion.
“Non-oil export earnings moderated in the review period.
“At US$800 million, non-oil export earnings fell by 5.88 per cent relative to the level in the preceding month.
“The development followed lower earnings from the export of agricultural products, particularly cocoa beans, as improved weather conditions boosted West African harvest prospects, leading to a decline in prices.”
