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GTBank Declares N116.39Billion Profit Before Tax for FY 2014

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GTB

Foremost African Banking Group, Guaranty Trust Bank plc has released its audited financial results for the year ended December 2014 to the Nigerian and London Stock Exchanges.

 

A review of the 2014 results shows positive performance across all financial indices, reaffirming the  Bank’s  position  as  one of  the  most  profitable  and well  managed  financial  institutions  in Nigeria. The Group delivered an impressive Profit Before Tax of N116.39billion, an increase of9.30billion or 8.7% over the N107.09billion reported in December 2013 and Gross Earnings ofN278.52billion an increase of 14.8% from the N242.67billion recorded in the same period of2013. In terms of value creation for its shareholders, the Bank recorded pre-tax ROAE of 32.94%and ROAA of 5.22% respectively.

 

The Bank’s balance sheet remains strong with 12.4% growth in Total Assets, from N2.10trillion in2013 to N2.36trillion in the year under review. Loan book growth up by 27.12% to close atN1.28trillion from N1.01trillion in 2013; driven primarily by growth of the foreign currency loan book, on the back of the 2013 $400mm Eurobond issue. On the back of continued growth of the Bank’s  Retail  franchise,  Customer  Deposits  grew  by  13.3%  from  N1.43trillion  in  2013  toN1.62trillion in 2014. The Bank continues to maintain a disciplined and prudent approach to loan growth in line with its Risk Management framework. The Bank’s Non-Performing Loans (NPL) ratio remained low at 3.15%; down from 3.58% in the comparative period of 2013. On the backdrop of this result, the Bank is proposing Total-Year Dividend of N1.75k per share (inclusive of the25kobo interim dividend paid at half year 2014).

 

Commenting on the financial  results,  Segun Agbaje, the Managing Director/CEO of Guaranty Trust  Bank  plc,  said  that  the  Bank’s  financial  performance  in  2014  attests  to  the  inherent soundness of our strategy and resilience of our earnings. The Group has delivered a respectable Profit Before Tax of N116.39billion in spite of all the headwinds the industry experienced in 2014.He  expressed  his  sincere  appreciation  to  customers  for  their  loyalty  and  staff  for  their commitment and hard work. According  to  Segun  Agbaje  “We  remain  committed  to  maximizing  shareholder  value  and delivering superior and sustainable returns. Our objective is to remain a leading player in the financial services sector whilst expanding our franchise in select, high growth African markets where we believe we have competitive advantage.

 

Guaranty Trust  Bank plc  has always been at  the forefront  of  industry  service innovations in markets  where  it  operates,  having  successfully  replicated  its  culture  for  excellence  in  its subsidiaries in Kenya, Uganda, Rwanda Ghana, Gambia, Sierra Leone, Liberia, Cote d’Ivoire and the UK. Locally, the Bank’s most recent service introductions includes; SME Market Hub; an e-commerce platform which allows GTBank customers create online stores in order to expand their business operations and boost sales

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Senator Gbenga Daniel Celebrates Aare Adetola EmmanuelKing at 50

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Senator Gbenga Daniel Celebrates Aare Adetola EmmanuelKing at 50

The distinguished Senator representing Ogun East Senatorial District and Chairman of the Senate Committee on Navy, His Excellency, Otunba Engr. Gbenga Daniel, has extended warm congratulations to Aare Adetola EmmanuelKing, Chairman/CEO of Adron Group, on the occasion of his 50th birthday.

In a heartfelt message, Senator Daniel praised Aare Adetola EmmanuelKing for his outstanding dedication and immense contributions to the Nigerian housing sector. He described the celebrant as a shining example in the business community, whose passion and commitment have left an indelible mark on the real estate industry across Nigeria.

“You are indeed a source of inspiration to your generation and a shining example within the business environment. There is no doubt that you had written your name in an indelible ink across Nigeria and most especially among the real estate developers,” he wrote.

Senator Daniel also acknowledged Aare Adetola EmmanuelKing’s conferment as the ‘Otun-Asiwaju of Remo Christians’ by the Ogun State branch of the Christian Association of Nigeria (CAN), as a reflection of his God-fearing nature, philanthropic spirit, and commitment to humanity.

The senator offered prayers for good health, greater accomplishments, and many more remarkable years ahead for the business mogul.

He concluded by affirming his highest regards and admiration for the celebrant

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From Loss to Land: CBEX Victim Gifted Plot in Ibeju Lekki by Swedish Follower

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From Loss to Land: CBEX Victim Gifted Plot in Ibeju Lekki by Swedish Follower

CBEX Crash Sparks Outrage, Tears and Unexpected Kindness: Swedish Fan Gifts Nigerian Investor a Plot of Land

 

The dramatic crash of the CBEX investment platform has triggered a wave of public outrage and heartbreak across Nigeria and beyond, with scores of users lamenting the loss of millions in life savings, business capital, and retirement funds.

The Economic and Financial Crimes Commission (EFCC), along with the Internet Fraud Unit, has reportedly launched a probe into the circumstances surrounding the platform’s sudden collapse. The investigation comes amid mounting pressure from angry investors demanding justice and restitution.

As thousands take to social media to share their personal experiences and financial devastation, one story has stood out—not for its tragedy, but for the unexpected act of generosity that followed.

In a recent Facebook post, Nigerian digital creator Ivan Eagle shared that a Swedish follower, deeply moved by his emotional account of the CBEX fallout—originally reported by Legit.ng—gifted him a full plot of land in Lagos.

“A follower in Sweden just gifted me a FULL plot of land in Lagos after reading my CBEX story on Legit.ng,” Ivan wrote.

He revealed that the property is a 600-square-meter plot in Ibeju Lekki, one of Lagos State’s fastest-growing residential hubs, where land prices under reputable developers like PWAN reportedly start at ₦30 million.

“For those of you who live in Lagos, you all know how Lagos is gradually evolving into Ibeju Lekki, and how residential regions covered by reputable real estate firms in the area have been SOLD OUT,” Ivan added.

A Silver Lining Amid a Financial Storm

The CBEX collapse has left a bitter taste in the mouths of thousands of investors, many of whom believed they were participating in a credible digital asset investment scheme. Online forums and Telegram groups have since been flooded with screenshots of losses, emotional breakdowns, and desperate calls for recovery.

However, Ivan Eagle’s story has become a rare glimmer of hope, showcasing the unexpected humanity that sometimes arises in the aftermath of financial tragedy.

As investigations deepen, questions remain over CBEX’s regulatory compliance, investor protections, and whether its operators will face legal consequences. For now, the EFCC remains silent on the details but has urged victims to submit official complaints through its designated reporting channels.

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Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu

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Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu After Rigorous Selection

 

In a significant leadership transition at one of Nigeria’s foremost military-civilian academic institutions, Professor Lawan Bala Buratai has been appointed as the new Vice Chancellor of the Nigerian Army University Biu (NAUB).

Prof Lawan Bala Buratai Appointed Vice Chancellor of Nigerian Army University Biu

The appointment was announced following an intensive and merit-based selection process conducted by the Governing Council of NAUB at the Armed Forces Officers Mess and Suites, Asokoro, Abuja. The Council, under the chairmanship of Dr. Awwal Moriki, concluded its deliberations and formally presented the letter of appointment to Prof Buratai in a brief but momentous ceremony.

 

Dr. Moriki, while congratulating the new helmsman, described the selection as the culmination of a transparent and rigorous process aimed at identifying a visionary academic leader who embodies the university’s core values of excellence, discipline, and innovation.

With this appointment, Prof Buratai succeeds Professor Kyari Mohammed, whose single five-year tenure is widely credited with laying a strong foundation for the university’s academic and structural growth.

 

The Nigerian Army University Biu (NAUB) was established in 2018 as a unique public institution owned by the Nigerian Army and designed to serve both military personnel and civilians. Located in Biu, Borno State, the university was conceived as a strategic response to the security and developmental challenges facing Nigeria and the wider Sahel region.

NAUB is focused on entrepreneurship, innovation, defense studies, and technology-driven research. It offers undergraduate and postgraduate programs in diverse fields ranging from engineering and environmental sciences to social sciences, computing, and military history.

 

What sets NAUB apart is its civil-military partnership model, which aims to foster mutual understanding and collaboration between Nigeria’s armed forces and the general populace. The university plays a key role in developing indigenous solutions to security challenges while also contributing to national capacity building and economic resilience through education.

 

With increasing national and international recognition, NAUB continues to attract scholars and partnerships across Africa and beyond, committed to transforming it into a world-class institution in security and development research.

 

Professor Lawan Buratai, a respected scholar and administrator, is expected to lead the university into its next chapter—deepening academic standards, expanding infrastructure, and strengthening NAUB’s role in national transformation.

His appointment signals a continuity of vision with a renewed focus on excellence, innovation, and service to the nation.

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