GTBank Redeems $500,000,000 Eurobond

Guaranty Trust Bank plc (“GTBank” or the “Bank”) last week Thursday announced the redemption of the outstanding portion of the $500,000,000.00 Eurobond Notes due May 19, 2016. In February 2016, the bank More »

How Pastor Joshua Iginla saved veteran Nollywood actor, Martins Njubuigbo’s life

Succor has finally come the way of veteran Nollywood actor, Martins Njubuigbo, popularly known as Elder Maya as his medical bills have been sorted out by popular Abuja pastor, Joshua Iginla. Reports More »

Petrol to sell for N130 per litre

The Federal Government is set to commence partial deregulation of the downstream petroleum sector, allowing major and independent marketers to sell Premium Motor Spirit, PMS, also known as petrol, at prices convenient More »

N4bn cash: Fani-Kayode must refund N840m, EFCC insists

THE Economic and Financial Crimes Commission, yesterday, questioned the spokesman of Goodluck Jonathan Campaign Organisation for hours, asking him to return the N840 million he allegedly received for the prosecution of the More »

Agbaje, GTBank Lead African Banker Nominations

Chief Executive Officer and Managing Director of Guaranty Trust Bank, GTBank, Segun Agbaje, has been nominated for the biggest individual accolade in the forthcoming African Banker Awards. He is nominated for the More »

 

PDP Extends Makarfi’s Tenure by 1 Year, Postpones National Convention

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The Peoples Democratic Party (PDP) has postponed its National Convention following the divergent court rulings and the sealing off of the venue of the convention which was scheduled to hold on Wednesday.
The party also extended the tenure of its Caretaker Chairman, Ahmed Makarfi by one year.
The party’s National Executive Committee (NEC) met at the Government House and decided to postpone the convention.
The leaders and delegates later moved to the party’s secretariat to pass a vote of confidence on Makarfi.
Governor of Rivers state, and chairman of the convention planning committee, Nyesom Wike made the announcement at the party’s secretariat on Wednesday.

GTBank Releases 2016 Half Year Audited Results…Reports Profit before Tax of ₦91.38Billion

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Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2016 to the Nigerian and London Stock Exchanges.
A review of the half year performance, shows that the Bank recorded positive growth across all key financial metrics, a testament to the cutting edge strategy of the Bank. Gross earnings for the period grew by 37% to ₦209.9billion from ₦153billion reported in the June 2015; driven primarily by growth in fee & commission income as well as foreign exchange income. Profit before tax stood at ₦91.38billion, representing a growth of 45% over ₦63.11billion recorded in the corresponding period of June 2015.The Bank’s loan book grew by 14% from ₦1.373trillion recorded as at December 2015 to ₦1.562trillion in June 2016 with corresponding growth in total deposits which increased by 23% to ₦2.008trillion from ₦1.637trillion in December 2015.

Nigerians are suffering because of Buhari’s nepotism: Fayose

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Ekiti State Governor, Mr Ayodele Fayose has said that Nigerians were
suffering under the All Progressives Congress (APC) government of
President Mohammadu Buhari because “the country is in the hands of
wrong managers who do not know what to do and out of nepotism, not
ready to be assisted by those who know.”
The governor said “presently, Nigerians are suffering, hungry and
angry because the APC federal government has run the country aground,”
adding that; “Nigeria has gone beyond recession, the economy has
collapsed completely and painfully, those who should revive the
economy do not have any clue as to what to do.”

Stanbic IBTC PMI Shows Private Sector Downturn Eased In July

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Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) has shown that the downturn in Nigeria’s private sector showed signs of easing in July, as both output and new business fell at slower rates, having dropped to the greatest extent in the June.
The survey revealed that growth of employment and purchasing activity picked up in the month, saying, “Added together, these contributed to a slowdown in the overall rate of contraction, as business conditions worsened only modestly. On the price front, companies reported weaker cost pressures. Charges subsequently rose at a softer, albeit still sharp, pace.”
The headline figure derived from the survey is the PMI Readings above 50.0, which signals an improvement in business conditions on the previous month. Readings below 50.0 show deterioration.

Delta Air Lines Rescues Nigeria’s Olympic Football Team to Brazil with Special NBA Chartered Aircraft

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Delta Air Lines has come to the rescue of Nigeria’s football Dream Team by
providing a dedicated charter flight to fly the team from Atlanta to Manaus
in Brazil less than 24 hours before their crucial Rio Olympics football
game opening match against Japan.
Thanks to a tab temporarily picked up by Delta Air Lines for the charter
flight, the stranded team is expected to land in Brazil at 2pm local time
which gives the team just enough time to clear customs and stretch before
kickoff at 9pm.