Business
GTBank Releases Q3 2019 Unaudited Results…….. Reports Profit before tax of ₦170.7 Billion
GTBank Releases Q3 2019 Unaudited Results…….. Reports Profit before tax of ₦170.7 Billion
Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2019 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 ₦170.7billion, representing a growth of 3.9% over ₦164.2billion recorded in the corresponding period of September 2018. The Bank’s Loan Book grew by 9.2% from ₦1.262trillion recorded as at December 2018 to ₦1.378trillion in September 2019, while customers’ deposit rose by 5.1% to ₦2.390trillion from ₦2.274trillion in December 2018.
The Bank’s balance sheet remained resilient with Total assets and Shareholders’ Funds closing at ₦3.519trillion and ₦636.8Billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 23.6%. In terms of Assets quality, NPL ratio and Cost of Risk (COR) improved to 5.6% and 0.2% in September 2019 from 7.3% and 0.3% in December 2018 respectively. Complementing the improvement noted in NPLs and COR, we maintained adequate Loan Loss coverage of 95.2% for Lifetime Credit Impaired Loans (NPLs). On the backdrop of this result, Post-Tax Return on Equity (ROAE) closed at 32.3% while Post-Tax Return on Assets (ROAA) stood at 5.8%.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “The Bank’s 3rd quarter result reflects the strength of our franchise and the quality of our business strategy to deliver sustainable long-term value for our shareholders. Going into the final quarter of the year, we will continue to differentiate ourselves by maintaining a high standard in service delivery and leveraging our resources, expertise and network to enrich the lives of our customers. That’s why, from November 10 – 11, 2019, we are organizing the GTBank Fashion Weekend, the biggest consumer-focused event in Africa’s fashion industry, to give indigenous small businesses the platform and access to new markets and customers that they need to grow.”
Over all, Guaranty Trust Bank plc continues to be best-in-class in the Nigerian banking industry in terms of all financial ratios i.e. Post-Tax Return on Equity (ROAE) of 32.3%, Post-Tax Return on Assets (ROAA) of 5.8%, and Cost to Income ratio of 36.9%. These ratios are testament to experienced Management, efficient Balance sheet structure coupled with operational efficiency of the Bank.
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 these include Africa’s Best Bank and Best Bank in Nigeria from Euromoney Magazine, and Best Banking Group and Best Retail Bank by World Finance Magazine.
Business
Nollylwood star actress Jaiye Kuti finally unveiled her pet project .
-As Nollywood stars show support for their own.
Nollylwood star actress , Jaiye Kuti has officially unveiled her pet project.
The Terravilla Estate located at Arogunmasa compound, Afara Village near Kori Oja, Obafemi Owode LGA, Mowe, Ogun State was officially opened on Monday 8th, September, 2025.

With the slogan ” own your space, and tell your story ” . The project which was first launched during the birthday celebration of the Nollywood star was well attended by some of her friends in film industry. Among those who graced the event are , Foluke Daramola salako, Bimbo Oshin, Doyin Kukoyi,, Leye Fabusoro.amongst others
Jaiye Kuti was full of admiration to her colleagues , family and friends who witnessed the epoch event
She spoke after the event.
“First of all I want to give glory to Almighty God for the succes of this great project, and for making it happened. And then to my husband. Mr Lanre Kuti for pushing me to this level. I also want to say a big thank you to High Chief Muraina Olasile, Bashorun Agba Akin of Yoruba land, Mowe. I want to thank my family and friends, all my staffs, the administrative staff of TerraHives Properties, Jaylex Production, to all my fans globally and my well wishers. I also want to say a big thank you to Mr Idowu Kuti , he is the first person to bought a land from me, he is my brother in-law. I am thanking him specially because I know he is going to bring in people that will still buy land”
She also spoke about the Estate
“It is only 5 minutes to Nestle, 30 minutes to the airport, 15 minutes to Magodo, and it’s 15 minutes to Abeokuta, while it’s just 35 minutes to Ibadan. The actual price goes for #25m per acre, but for promo it’s #20m. While for 600sqm it’s #5millon, but it goes for 3.5 million for the promo, for 300sqm that goes for #3 million will put it down for #2million for promo, and this promo runs just for a month, which means the promo will close by next month ” she explained
Accounting to Jaiye Kuti, it is TerraHives property limited that present, Terravilla Estate which is their first estate
” Yes it is our first Estate”
With this big project Jaiye Kuti became has joined the group of Nollywood super stars who owns their own estate . And having been an ambassador to many companies and even to land estate , it’s a welcome development for Jaiye Kuti to ventured into this noble business
Business
Business Tycoon Oluwasegun Rolland Elusoji Cries Out Over Alleged Threats to Life Amid High-Stakes Legal War with Adeseye Joseph Famojuro
Business Tycoon Oluwasegun Rolland Elusoji Cries Out Over Alleged Threats to Life Amid High-Stakes Legal War with Adeseye Joseph Famojuro
In a dramatic turn in an ongoing legal showdown, prominent entrepreneur Oluwasegun Rolland Elusoji has gone public with chilling threats against his life and that of his family, allegedly linked to his legal battles with influential figure Otunba Adeseye Joseph Famojuro.
Elusoji revealed that the threats began on August 26, 2025, when Famojuro reportedly called some of his associates, vowing to “finish me” and make him “disappear from this earth.” Famojuro allegedly taunted Elusoji, warning that he “does not know who he is” and promising to destroy his reputation nationwide.
The intimidation escalated two days later when Famojuro reportedly contacted Elusoji’s sister, reiterating threats against the family, including his elderly parents. “These threats have left my entire family living in fear, and we are genuinely concerned for our safety,” Elusoji said.
Elusoji claims that Famojuro’s campaign of terror has extended to people close to him, with repeated references to prior incidents involving an associate known as Auxiliary, signaling a dangerous pattern of intimidation.
Sources close to the matter reveal that the threats coincide with a heated legal battle between Elusoji and Famojuro, raising concerns that the intimidation may be a deliberate attempt to influence the outcome of the case. Legal experts warn that such actions constitute serious criminal offenses under Nigerian law—including intimidation, harassment, and threats to life—and could worsen Famojuro’s legal position if proven.
“Since then, he has been contacting individuals close to me, threatening them as well,” Elusoji explained. “He has repeatedly stated that he will make me disappear from this earth and further warned me to ‘go and ask what he did to Auxiliary.’ These threats have placed my family and me in constant fear. At present, the Nigerian Police Force appears so compromised that urgent matters like this are not treated with the seriousness they deserve, simply because he is in a position of power.” The Issue of Alhaji Mukaila Lamidi, a known Auxiliary, is quite a different case, as no one knows what transpired between them in Oyo state park issues, but the Elusoji Court case is both in the USA and Nigeria. So comparing both is not sensible at all.
“This is more than just a legal battle,” Elusoji continued. “It has become a fight for our very survival. We are appealing to IGP Kayode Egbetokun and all relevant authorities to take urgent action before it is too late.” This Adeseye has failed to show up in the Court case in the USA and Nigeria. So why go ahead to declare someone wanted or resort to a threat to the life of his loved Ones?
The allegations have sparked outrage among human rights advocates, who are calling for immediate protection for Elusoji and his family. Critics are questioning whether law enforcement can act impartially, given the alleged perpetrator’s influence. Who is afraid of Adeseye? Is it the police or EFCC? Is it because he is Governor Makinde’s ally, or is he the Governor?
Observers warn that the case could set a precedent for how citizens are treated when threatened by powerful individuals, stressing the urgent need for transparency, accountability, and protection of life—irrespective of status or influence.
As the legal battle rages on, the nation watches closely, with many calling for swift action to ensure that justice prevails and that no one is above the law.
Business
FIRSTBANK LAUNCHES FIRSTMONIE MERCHANT SOLUTION TO ADVANCE DIGITAL PAYMENTS ACROSS NIGERIA
FIRSTBANK LAUNCHES FIRSTMONIE MERCHANT SOLUTION TO ADVANCE DIGITAL PAYMENTS ACROSS NIGERIA
Lagos, 3 September 2025 – FirstBank, the leading financial institution and provider of financial inclusion services in West Africa, has officially launched its FirstMonie Merchant Solution. This innovative platform is designed to enable merchants and businesses across Nigeria to seamlessly accept digital payments with efficiency and ease.
The FirstMonie Merchant Solution responds to the increasing need for dependable digital payment systems by offering a streamlined and automated onboarding process, an integrated referral system, and customizable features such as Pay with Transfer and Purchase. Additional capabilities include instant settlement, concession management with flexible and competitive pricing, automatic terminal registration, and a comprehensive suite of products spanning all pricing tiers. The solution comes equipped with pre-configured, ready-to-use POS terminals, as well as a network dashboard offering real-time monitoring, dispute resolution, and complaint management. These functionalities contribute significantly to improving the merchant experience by enhancing liquidity, accuracy, and operational control, while effectively minimizing chargebacks.
Chuma Ezirim, Group Executive, E-Business and Retail Products at FirstBank, remarked on the launch: “FirstMonie Merchant Solution is set to transform digital payments in Nigeria. With its advanced features and seamless onboarding, we are empowering businesses of all sizes and locations to thrive in the digital economy.”
He further emphasized that the FirstMonie Merchant Solution will enhance operational efficiency within Nigeria’s payments industry. “This is not merely a product introduction; we are simplifying payment processes and providing merchants with improved transparency, control, and speed for daily transactions. At FirstBank, our commitment remains steadfast in building financial ecosystems that offer value, convenience, and trust to all stakeholders.”
Both new and existing FirstBank account holders can access the FirstMonie Merchant Solution through a straightforward online registration at www.firstbanknigeria.com/getyourpos.
Leveraging FirstBank’s established technological infrastructure, the FirstMonie Merchant Solution demonstrates the Bank’s dedication to fostering growth and financial inclusion by delivering scalable, reliable, and user-friendly digital solutions tailored to the evolving needs of Nigerian enterprises.
Beyond enabling seamless digital payments, the FirstMonie Merchant Wallet Solution reinforces FirstBank’s commitment to the safety and security of merchant funds, a critical assurance that many Fintech alternatives do not provide.
With a heritage spanning 131 years, FirstBank continues to drive innovation in African banking. The introduction of the FirstMonie Merchant Solution reaffirms the Bank’s leadership in digital banking and underscores its mission to broaden access to financial services nationwide. Supported by a network of over 300,000 FirstMonie agents, FirstBank maintains its position at the forefront of accessible and innovative financial solutions for individuals and businesses throughout Nigeria.
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