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GTBank Releases Q1 2020 Unaudited Results ​​​ …….. Reports Profit before Tax of ₦58.2Billion

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Guaranty Trust Fund Managers Limited Launches Guaranty Trust Investment Fund 724

Guaranty Trust Bank plc has released its unaudited financial results for the period ended March 31, 2020 to the Nigerian and London Stock Exchanges.

A review of the 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. Profit before tax stood at ₦58.2billion, representing a growth of 2.1% over ₦57.0billion recorded in the corresponding period of March 2019. The Bank’s Loan Book grew by 8.0% from ₦1.502trillion as at December 2019 to ₦1.622trillion in March 2020, while customers’ deposit increased by 9.3% to ₦2.768trillion from ₦2.533trillion in the same period. 

The Bank maintained a well-structured and diversified balance sheet with Total assets and Shareholders’ Funds closing at ₦4.057trillionand ₦661.1Billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 23.5%. In terms of Assets quality, NPL ratio and Cost of Risk (COR) improved to 6.0% and 0.1% in March 2020 from 6.5% and 0.3% in December 2019respectively. Loan Loss coverage also improved to 130.5% for Lifetime Credit Impaired Loans (NPLs) compared to 126.6% in December 2019.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “These are very difficult and uncertain times, not just for the financial services sector and the economy as a whole, but also for hundreds of millions of people around the world whose lives and livelihoods have been put at risk by the COVID-19 pandemic. At GTBank, we know that the impact of this pandemic may sustain for months to come, but we remain positive that, by staying nimble and continuing to build on the strength of our businesses, we are appropriately positioned to cope with emerging economic realities, as reflected in our first quarter result.”

He further stated that, “As a platform for enriching lives, our focus is on safeguarding lives and livelihoods. That is why we are working round the clock to keep all our members of staff and customers safe, supporting the government in combatting the pandemic and being there for our customers in every way that they may need our support at this time.”

Over all, Guaranty Trust Bank plc continues to be best-in-class in the Nigerian banking industry in terms of financial ratios i.e. Post-TaxReturn on Equity (ROAE) of 29.7%, Post-Tax Return on Assets (ROAA) of 5.1%, and Cost to Income ratio of 40.6%. These ratios reflect the Management stability and well-structured Balance sheet coupled with operational efficiency. 

In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the years. Some of the awards include Best Bank in Africa and Best Bank in Nigeria, by the Euromoney Magazine (2019), Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine (2019), Bank of the Year – Nigeria from the Banker Magazine (2018), Most Innovative Bank from the African Investor (2018), and Best Digital Banking Brand in Nigeria from the Global Brands Magazine (2018).

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Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

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Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

In the pulsating heart of Lagos, the Elite Women Musicians Club of Lagos

stands as a beacon of unity and empowerment for female artists. This dynamic association, renowned for its diversity in musical genres, prides itself on bringing together talented women from all walks of musical life. Today, we celebrate its esteemed members, who number twenty-nine strong, each contributing uniquely to the vibrant tapestry of the Club.

 

Leading The Charge :

At the forefront of the Elite Women Musicians Club of Lagos Club is Alhaja Queen Isimot Abake Abiola PQ1st (Omo Opeki), the President. Her leadership is a source of inspiration for many, guiding the Club with a vision of inclusivity and excellence. Supporting her is Alhaja Queen Halimot Ayinla Omowura, the Vice President, whose dedication ensures the smooth operation and growth of the association.

 

Alhaja Badirat Adunni Olaniyan (Just Like That) serves as the Treasurer, managing the financial health of the Club with precision. The Social Secretary, Alhaja Aminat Babalola Balogun (Omotayebi, Iya Kekere Eko), brings vibrancy and connectivity, fostering a sense of community among the members. Asiwaju Yeye Tosin Eniba (Fuji Queen), the Secretary, ensures that the administrative duties are handled efficiently, supporting the organizational backbone of the Club.

Valued Members :

The Club’s strength lies in its diverse membership, each woman a luminary in her own right. The following are the distinguished members of the Elite Women Musicians Club of Lagos :

– Afonja Gbajoba

– Bisi Ewa Ogo Jesu

– Alhaja Jelilat Dupytie

– Ejire Akewi Oba

– Alhaja Aminat Itojuobi

– Alh. Fatimo Oseni Salawa Onigbongbo

– Alh. Tawakalitu Alagbada Tokotaya to nko Fuji

– Aishat Irepo Obi

– Olaleye Rahemot Arike (Akomolesin Agbaye)

– Alh. Dasola Abeke

– Ewebiyi Iya Oriki

– Ameerat Oninure

– Alh. Azeezat Otibiya

– Alh. Rukayat Bashirimi

– Alh. Mujidat Damilola

– Alh. Fatima Aljafaria, an Elder whose wisdom and experience enrich the Club.

– Alh. Taibat Omo Tayenfe

– Queen Muheenat Ijaodola

– Sakirat Yeye Oge

– Alh. Mariam Akiki Akanbi

– Queen Abebi Ayala

– Aweni Adepeju (Aweni Fuji)

– Fatimo Ajoke Cinderella

– Alh. Hafsat Sideeq, another Elder whose guidance is deeply valued.

 

A Legacy of Excellence :

The Elite Women Musicians Club of Lagos is more than just an association; it is a legacy of excellence, a network of powerful voices that harmonize to uplift and inspire. Each member, from the executives to the distinguished members, plays a crucial role in shaping the cultural and musical landscape of Lagos and beyond. Their combined efforts create a symphony of collaboration and mutual support, ensuring that the future of female musicians in Nigeria remains bright and promising.

 

As we celebrate these remarkable women, we also look forward to the new heights the Club will achieve under their leadership and unity. Their commitment to their craft and each other stands as a testament to the incredible power of music and the unwavering strength of women.

Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

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Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu

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Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu
… As Apapa Command Honours Outstanding Stakeholders

By Ifeoma Ikem

Comptroller General of Customs, Bashir Adewale Adeniyi, MFR has commended the Area Controller of Apapa Port Command, Comptroller Babatunde Olomu, fsi for the command’s outstanding revenue collection of over N2.2tr and urged him to sustain the tempo.

CGC said this in Apapa on Friday at the command’s end of the year party and award ceremony also harped on the need for compliance and synergies as necessary strategies to greater productivity at the port. According to him, compliance is a competitive advantage.

He was represented by Deputy Comptroller General Caroline Niagwan, DCG Tariff and Trade, Adeniyi congratulated the Customs Area Controller and all the officers and men of Apapa Area Command for the milestone achieved in revenue collection to the tune of N2.2tr and still counting which has earned the command multiple accolades

“It is with immense pleasure that I stand before you today to celebrate a shared commitment to compliance and excellence in trade. This award ceremony is a testament to your dedication to ethical business practices, adherence to regulations, and unwavering support for the principles that drive Nigeria’s economic growth.

“Compliance is not merely a requirement; it is a competitive advantage. It fosters transparency, reduces operational risks, and strengthens the trust between businesses and regulatory authorities. It also positions compliant stakeholders to enjoy streamlined processes, faster clearance times, and access to the numerous benefits that come with being recognized as trusted trade partners.

“As a Service, we understand that sustaining compliance can sometimes require capacity building, especially as global trade evolves.

To this end, the Service is committed to providing the necessary training, technical assistance, and partnerships that will empower you with the knowledge and tools to maintain this high standard.

“Our goal is to ensure that every stakeholder remains competitive,vinnovative, and aligned with global best practices.
By working together, we can unlock even greater opportunities for growth. Compliant stakeholders not only contribute to national revenue but also drive economic development, attract foreign investments, and enhance Nigeria’s position in international trade” Adeniyi said

In his welcome speech, Comptroller Olomu expressed appreciation to the CGC and the customs management team for always providing the direction and inspiration to the command in it’s drive to meet government’s expectations .

He described the end of year party as many things rolled up in one as it strengthens the stakeholders bond as a community of government and private sector collaborators working together for the betterment of Nigeria;

it’s also to celebrate together as the year 2024 ends and honour those whose outstanding performances contributed in shaping the command’s achievements in 2024.

Comptroller Olomu said despite the challenges of low trade volume, the command is able to achieve it’s target which is a reflection of officers commitment and dedication to duty

He added that in line with the policy thrust of the CGC, the command utilised it’s relationship with stakeholders to achieve it’s goal this year.

According to him improving on stakeholder engagement has become an operational template the Comptroller General of Customs has impressed on the officers and expressed joy to announce that it has proven to be a masterstroke towards enhanced compliance.

Comptroller Olomu said “Compliance is no doubt the bedrock of all customs achievements in areas of revenue collection, anti smuggling and legitimate trade facilitation. Our approach to regurlarly engage our sister government agencies has raised our degree of intelligence sharing towards a common national interest.

“Let me use this period to thank the NPA, DSS, NDLEA, NAQS,Port Health, Police, Immigration and other sister government agencies for their consistent collaboration in 2024. They are indeed an integral part of the command’s success story in 2024. I urge them to stay on board let’s do it again in 2025.

“With our port users, we maintained regularly enlightenment meetings, faster trade dispute resolution mechanism and consistent appraisal of feedbacks to keep improving on our responsibilities.

“There have been positive fallouts of our regular interface with our stakeholders. This is evident in our collection of N2..2tr revenue and still counting, zeroing in on the minority that attempt smuggling by curbing their activities with seizures. We are fostering inclusivity and this will continue in 2025

“We have ensured no container , import or export consignment goes through our control without due diligence of proper examination. This has been the foundation of our impeccable enforcement drive.

“We are honouring some of our officers and stakeholders for their outstanding performances in the year 2024 . I want to urge the awardees to see this as a call for more commitment to surpass their best outputs. There is no end to improvement

“This should also be a challenge to those who didn’t make the award list this time, I urge them to keep improving with a promise that their inputs shall not go unnoticed for due recognition” he concluded

Among those recognised with various awards are APM Terminals, Sifax Group, ENL Consortium, Dangote, Talod Ocean Airfreight and Princess Chi Ezeh the CEO of Munah Sylva Nigeria Limited

The command also recognised serving and retired officers for their contributions to it’s overall successes in 2024.

Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu
... As Apapa Command Honours Outstanding Stakeholders

By Ifeoma Ikem

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Bullion Records; GyC Release Debut EP Album, A Billion Things

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Bullion Records; GyC Release Debut EP Album, A Billion Things By Ibrahim Kegbegbe

Bullion Records; GyC Release Debut EP Album, A Billion Things

By Ibrahim Kegbegbe

 

Bullion Records, one of Nigeria’s fastest-growing record labels, has officially released its highly anticipated debut EP album, A Billion Things, sung by its sensational artist, GyC. Born Fortune Kingsley, GyC is making waves in the Nigerian music industry, and this five-track EP marks a significant milestone in his career and the label’s history.

The EP, which dropped today, Wednesday, December 12, 2024, features an eclectic mix of tracks, including Mailo, Shayo, Woman, Kpang Kpang, and Kokan Aye. The standout track, Kokan Aye, features collaborations with Nigerian music icons 9ice and Eedris Abdul Kareem, further solidifying GyC’s place in the music scene.

Speaking about the project, Ambassador Olufemi Ajadi Oguntoyinbo, Chairman and CEO of Bullion Records, described the album as a blend of inspiration and artistry. “Every track in this album is not only a masterpiece but also delivers profound messages. From love to resilience, and from societal consciousness to celebration, A Billion Things resonates with listeners on different levels,” he said.

The production team behind the album includes some of Nigeria’s most talented producers. YoungSmith worked on the hits Shayo, Woman, and Mailo, while Philkeyz produced the electrifying Kpang Kpang. Shockerbeat added his signature touch to Kokan Aye, ensuring the album delivers a diverse yet cohesive sound.

Mr. Elegbede Ajibola, the entertainment director at Bullion Records, emphasized the label’s strategic timing for the album’s release. “We deliberately chose December to launch this EP because it’s a season when people connect through music. We want fans and good music lovers worldwide to vibe to these amazing tracks during the festive period,” Elegbede noted.

GyC, the star of the moment, expressed his gratitude to the team behind the album’s success. “This project is the result of collective effort and dedication. I want to thank the executive members of Bullion Records for their unwavering support. Special appreciation also goes to the incredible music producers who brought my vision to life,” he said.

The release of A Billion Things marks a bold statement from Bullion Records as it cements its position in the Nigerian music industry. With a lineup of motivational, soulful, and dance-worthy tracks, the EP is expected to become a favorite among music lovers globally.

Fans can now stream or purchase the album on all major music platforms.

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