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Striking workers expose Federal palace Hotel managers

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More shocking details have emerged in the ongoing imbroglio going on at the prestigious Federal Palace Hotel between the staffers and the management.  Sahara Weekly’s check on Thursday, January 29, 2015 revealed that trouble started weeks back when the workers complained of poor working condition and paltry sum being paid as salary.

While speaking with us, some of the staffers complained that the management pay them like N60, 000 out of which they deduct illegal tax to the tune of N25, 000. Aside that,  the management was deducting another N7, 500 from their salary since the last quarter of last year. According to them, when they challenged them, they claimed they have over paid them in years past and as such deducting that from their salary.

Another staffer revealed that it’s so sad that the management collected N7, 500 from them for identity card which ought to be a free service. We also learnt that most of the staff have health issues because they are always in the chiller but were denied basic amenities like tea or hot water. “I can tell you that we have lost about four staffers within the year (the names are withheld by us as a means of honoring the departed souls), and can you believe that their entitlement was just a month’s basic salary”

“That’s why we have decided to paralyzed activities here and since Tuesday the hotel has been shut down. Until they respond to our demands, we would allow them to operate.”

Meanwhile, checks by us revealed that the management has engaged the services of the Nigeria Police Force to help maintain law and order.

Investigation by us revealed that since the closure of the 5 star hotel on Tuesday, they have incurred a running loss of over N20million both financially and other wise as the casino too along with other activities were were grounded to a halt. The once bubbling hotel was as deserted as a graveyard.

On Thursday, January 30, 2015, we contacted the hotel management but they simply replied that they would get back to us. They claimed it’s not a conducive period for discussion now.

The Federal Palace Hotel is a 150-room hotel that overlooks the Atlantic Ocean, located in the commercial hub of Victoria Island in LagosNigeria. Established in 1960 as the country’s premier international hotel, it was originally owned by the Victoria Beach Hotel, as part of the A. G. Leventis trading group.Considered “a landmark of the Lagos metropolis” the hotel is notable for having been the setting for the signing of Nigeria’s Declaration of Independence.   it has been a Sun International property since 2007

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Waste for Gas – GTCO Plc Launches Initiative to Improve Quality of Life for Households and Empower Women

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Waste for Gas – GTCO Plc Launches Initiative to Improve Quality of Life for Households and Empower Women

 

 

Guaranty Trust Holding Company Plc (GTCO), a leading financial services institution renowned for its innovative approach to corporate social responsibility (CSR) and stakeholder engagement, today announced the launch of its “Waste for Gas” project to improve quality of life for households and empower women in underserved communities. This transformative initiative aims to distribute 3,000 3kg gas cylinders with burners to low-income households in Obafemi Owode Local Government, Mowe, Ogun State.

 

 

The Waste for Gas project underscores GTCO’s unwavering commitment to improving outcomes for people and communities. By providing households with gas-powered cooking, the initiative simplifies daily routines, freeing up time for essential activities that support financial resilience. The initiative also introduces a structured “waste for gas” exchange programme that promotes responsible waste management, fostering a culture of sustainability.
The project will unfold in two key phases, ensuring that it reaches those most in need. In the first phase, teams from GTCO, in collaboration with local government representatives, will conduct door-to-door visits across 12 wards in Obafemi Owode Local Government from Monday to Friday, February 18th – 21st, 2025.

 

 

These visits will help identify beneficiaries who currently rely on firewood and charcoal for cooking. Participating households will collect and return plastic waste in exchange for gas cylinders and burners. In the second phase, scheduled for Saturday and Sunday, February 22nd and 23rd, 2025, efforts will be shifted to monitoring and increasing adoption of the new cooking method among the beneficiaries.
Speaking on the initiative, Mr. Segun Agbaje, Group Chief Executive Officer of GTCO Plc, stated: “At GTCO, we are committed to driving progress, not just through innovative financial solutions but by creating real impact in the communities where we operate. Waste for Gas is about making life easier for families, giving them more time for what truly matters—whether it’s education, meaningful work, or personal development. Beyond this initiative, our goal is to continually evolve sustainable platforms that empower people, strengthen communities, and contribute to socioeconomic progress.”

 

 

As GTCO continues to expand its CSR footprint, the Waste for Gas project serves as a blueprint for future interventions that drive meaningful, long-lasting impact in underserved communities.

 

About GTCO Plc
Guaranty Trust Holding Company Plc (GTCO) is a leading financial services institution headquartered in Lagos, Nigeria, with operations across 10 countries in Africa and the United Kingdom. GTCO Plc transitioned from a pure-play commercial bank—licensed since 1990—to a fully-fledged financial services company in April 2021 under a non-operating financial holding company structure, with shares listed on both the Nigerian Exchange (NGX) and the London Stock Exchange (LSE). The operating entities within GTCO’s robust financial ecosystem include Guaranty Trust Bank Limited (GTBank), Guaranty Trust Fund Managers Limited (GTFM), Guaranty Trust Pension Managers Limited (GTPM), and HabariPay Limited (Habari).

 

As a “Proudly African and Truly International” Institution, GTCO has been at the forefront of enriching lives and promoting enterprise across the African continent through its transformative platforms and differentiated offerings.

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Abdul Samad Rabiu Leads the Way as ASR Africa Deliver on N5 Billion Commitment to IBB Library

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Abdul Samad Rabiu  Leads the Way as ASR Africa Delivers on N5 Billion Commitment to IBB Library

 

 

Abuja, Nigeria – February 21, 2025

 

 

The Abdul Samad Rabiu Africa Initiative (ASR Africa) is pleased to announce the full redemption of its N5 billion pledge to the IBB Presidential Library Fund, fulfilling the commitment made by our Founder and Chairman, Abdul Samad Rabiu, CFR, CON at the launch event yesterday. The pledge was successfully redeemed today, February 21, 2025, ensuring that work can begin immediately on this landmark institution.

 

ASR AFRICA REDEEMS N5 BILLION PLEDGE TO IBB PRESIDENTIAL LIBRARY FUND

 

Speaking on this milestone, our Founder & Chairman, Abdul Samad Rabiu, said, “History is not just a record of the past; it is a blueprint for the future. The IBB Presidential Library will serve as a vital resource for scholars, leaders, and all Nigerians seeking to understand the decisions and events that shaped our country.”

 

ASR Africa extends our gratitude to President Bola Ahmed Tinubu for his inspiring remarks and to General Ibrahim Babangida, GCFR, for his bold vision in establishing this library and for honoring our Founder & Chairman, Abdul Samad Rabiu as Chief Launcher alongside General TY Danjuma.

 

With this pledge fully redeemed, ASR Africa looks forward to seeing the IBB Presidential Library take shape as a lasting legacy for future generations.

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Arthur Eze Declares Babangida Saved His Life, Donates ₦500 Million at Book Launch

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Arthur Eze Declares Babangida Saved His Life, Donates ₦500 Million at Book Launch

Arthur Eze Declares Babangida Saved His Life, Donates ₦500 Million at Book Launch

Nigerian business magnate and philanthropist Arthur Eze made a powerful declaration at the recent launch of former military president General Ibrahim Babangida’s (Rtd) book, expressing profound gratitude for the retired leader’s impact on his life and career.

In a speech filled with emotion and reverence, Eze credited Babangida with saving his life and shaping his success. “You made me what I am today. Without you, I could have been a dead man,” Eze said, drawing applause from the crowd of dignitaries gathered for the high-profile event.

The billionaire businessman went on to announce a ₦500 million donation as a gesture of appreciation, underscoring Babangida’s pivotal role in his survival and rise to prominence.

The book launch, held in grand fashion, attracted political elites, business leaders, and cultural icons from across Nigeria, all gathered to honor the legacy of General Babangida. Known as one of Nigeria’s most influential and controversial military leaders, Babangida’s time in office (1985-1993) is remembered for its political, economic, and social reforms, as well as its polarizing decisions.

Arthur Eze’s remarks highlighted the deep personal ties between the two men and added a new dimension to Babangida’s influence on Nigeria’s business landscape.

Observers noted that Eze’s statement hinted at untold stories of political alliances and behind-the-scenes decisions that shaped Nigeria’s elite class. While no details were provided about the circumstances that prompted Eze’s life-saving intervention by Babangida, the billionaire’s public acknowledgment has sparked curiosity about their shared history.

Eze, known for his philanthropic work and influence in Nigeria’s oil and gas sector, has long been a powerful figure in Nigeria’s business community. His donation further cements his reputation as one of Nigeria’s most generous and loyal benefactors.

As the book launch concluded, many in attendance reflected on the enduring bonds of loyalty, gratitude, and political legacy in Nigeria’s power circles—bonds that continue to define the nation’s history and future.

This dramatic public acknowledgment by Eze is expected to spark more discussions about Babangida’s impact on Nigeria’s political and business elite and could inspire deeper explorations into the untold stories of Nigeria’s most influential figures.

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