Business
GTCO Plc Becomes the 1st Financial Services Institution in West Africa to Achieve Listing and Trading of its Ordinary Shares on the London Stock Exchange
Published
2 days agoon
GTCO Plc Becomes the 1st Financial Services Institution in West Africa to Achieve Listing and Trading of its Ordinary Shares on the London Stock Exchange
Guaranty Trust Holding Company Plc (GTCO Plc), Africa’s leading and most profitable Financial Services Group, has recorded a significant milestone in its growth and expansion journey with the successful admission of its Ordinary Shares to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange.
This historic achievement makes GTCO Plc, the 1st Financial Services Institution in West Africa to dual list its Ordinary Shares on both the Nigerian and London stock exchanges, and subject to certain criteria, it is expected that the Shares will be transferrable between the two exchanges.
The admission follows the successful pricing of its fully marketed offering (The Offering) on the London Stock Exchange to raise gross proceeds of $105million in exchange for 2.29 billion of new ordinary shares in the company, which was supported by a strong book of high-quality, long-term institutional investors.
Concurrent with the Offering, the Company also gave notice of its intention to cancel the listing of its existing GDRs on the certificates representing certain securities (depositary receipts) category of the Official List of the United Kingdom Financial Conduct Authority (“FCA”) and the admission to trading of GDRs on the London Stock Exchange’s main market for listed securities.
Building on the momentum of the successful first tranche of its equity capital raise programme in July 2024, which secured ₦209 billion, GTCO will deploy the proceeds from the Offering to strengthen its capital base, meet its recapitalization target, and fund strategic expansion across high-growth markets and priority sectors within and outside Nigeria.
It is expected that Admission and unconditional dealing in the Shares will become effective on or before 8.00 a.m. (UK time) on 9 July 2025 under the ticker “GTHC”. Following the cancellation of the GDRs listing, the Company intends to change the ticker symbol for the Shares from “GTHC” to “GTCO” and will issue a separate announcement in due course to that effect.
Commenting on the LSE Listing, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Today marks a major milestone—not just for GTCO, but for the future we see for African financial institutions on the global stage.
We are incredibly proud to be the 1st Financial Services Institution in West Africa to list our ordinary shares on London Stock Exchange’s main market for listed securities, and even more honored by the trust placed in us by the investing community. For us, this was not just about raising capital. It was about validating the strength of our franchise, the clarity of our strategy, and the discipline with which we execute.”
He further said; “I would like to thank everyone who made this possible—our advisors and legal teams, our longstanding shareholders, the regulators both in Nigeria and in the UK, as well as the Nigerian government for creating an environment that supports our bold ambition and vision to be Africa’s leading financial services institution.”
GTCO’s fully marketed offering attracted long-term institutional capital, reflecting investor confidence in the Group’s fundamentals, governance, and strategic outlook.
It also signals improving market sentiment, buoyed by ongoing economic reforms by the Federal Government and a return to traditional orthodox monetary policy by the Central Bank of Nigeria, which have gone a long way to stabilising the macroeconomic environment and gradually restoring investor confidence in Nigeria’s long-term prospects.
About GTCO Plc
GTCO Plc is one of Africa’s leading financial services institutions with a longstanding track record of strong growth, service excellence, and shareholder returns. The Group operates across banking, payments, asset management, and pension administration in eleven countries, including Nigeria, the UK, and key African markets.
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Business
Adron Homes Made My Dream Come True” — New Homeowner Shares Inspiring Testimony
Published
14 hours agoon
July 6, 2025*”Adron Homes Made My Dream Come True” — New Homeowner Shares Inspiring Testimony
For many Nigerians, the dream of owning a home often feels out of reach, clouded by financial limitations, uncertainty, and broken promises. But for Engr. & Mrs. Taiwo Ademola, that dream has become a beautiful reality, made possible by Adron Homes.
Speaking proudly from the comfort of his newly completed home in one of Adron’s thriving estates in Shimawa, Ogun State, Engr. Ademola shared his joy and fulfillment at finally becoming a landlord.
“When I thought about owning a home, it felt like a far-off dream,” he recalled. “But Adron Homes changed everything. Their flexible installment plan gave me the confidence to start. Today, I stand here as a proud homeowner. For anyone still doubting, Adron Homes is real, and they are here to stay.”
The Ademolas’ new home, now dedicated and celebrated, is a symbol of stability, dignity, and the fulfillment of a long-held dream. Their success story is a powerful reminder of Adron Homes’ mission to make quality, affordable housing accessible to every hardworking Nigerian, regardless of financial background.
In his congratulatory message to the family, Sir Aare Adetola EmmanuelKing, Chairman/CEO of Adron Group, expressed his delight at yet another fulfilled homeowner.
“At Adron Homes, our vision has always been to make home ownership possible for every Nigerian, and I am glad we are living up to this vision” he stated. “Every key we hand over is a step towards fulfilling that vision”.
He welcomed them into the family, describing this feat as the foundation of new beginnings and joyful memories.
Adron Homes has become synonymous with reliability, integrity, and innovation in Nigeria’s real estate sector. With flourishing estates across Shimawa, Lagos, Abuja, Nasarawa, Epe, Badagry, and beyond, the company continues to redefine affordable luxury and accessible home ownership nationwide.
As more Nigerians like the Ademolas proudly unlock the doors to their dream homes, one truth remains undeniable, with Adron Homes, dreams are not just imagined; they are built, one family, one house, one community at a time.
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Business
REAL ESTATE INDUSTRY EXPERTS, STAKEHOLDERS RAISE ALARM OVER BUILDING COLLAPSE IN LAGOS, SEEK URGENT REFORMS
Published
3 days agoon
July 4, 2025*REAL ESTATE INDUSTRY EXPERTS, STAKEHOLDERS RAISE ALARM OVER BUILDING COLLAPSE IN LAGOS, SEEK URGENT REFORMS
The recurring tragedy of building collapse in Lagos once again came under the spotlight today as stakeholders from across Nigeria’s building industry gathered at the University of Lagos for the Professor Leke Oduwaye-Adron Homes Urban Development Dialogue, a high-level forum aimed at addressing regulatory and construction lapses fueling the crisis.
Themed “Recurring Building Collapse in Lagos: The Challenge of Regulatory Oversight and Construction Practices,” the dialogue was organized by the Department of Urban and Regional Planning (DURP), University of Lagos, in collaboration with real estate giant, Adron Homes.
Delivering goodwill remarks, the Group Chairman of Adron Group, Sir Aare Adetola EmmanuelKing, KOF, issued a strong call for accountability across the building sector. Describing building collapse as a “tragedy that has become far too familiar,” Aare Adetola Emmanuelking emphasized that such disasters are not acts of fate but direct results of human negligence, greed, and systemic failure.
“Buildings do not collapse by accident. They collapse because somewhere along the chain of planning, approval, construction, or supervision, individuals choose to compromise,” he stated firmly”, he stated.
The respected real estate mogul outlined what he termed the three uncompromising actions needed to combat the menace, Verification, Validation, and Control, stressing that all actors within the building industry must be held to the highest standards of competence and ethical responsibility.
The event featured a thought-provoking guest lecture by Tpl. (Dr.) Idris Salako FNITP, former Lagos State Commissioner for Physical Planning and Urban Development. Drawing from his vast experience, Dr. Salako delivered a hard-hitting analysis of the root causes of building collapse in Lagos. He identified critical gaps such as weak enforcement of development control regulations, poor coordination between regulatory agencies, and widespread disregard for approved building plans by some developers.
Dr. Salako further highlighted how political interference, corruption, and the proliferation of quack professionals continue to erode the integrity of the building sector. He stressed the urgent need for capacity building among regulatory bodies, proper training and certification of artisans, and the full digitalization of building approval processes to ensure transparency and efficiency.
The dialogue also featured keynote addresses by Tpl. Tunji Odunlami FNITP, Ogun State Commissioner for Physical Planning and Urban Development, and Professor Ayo Omotayo, Director General, National Institute of Policy and Strategic Studies, Kuru. Both speakers echoed the need for proactive urban planning, robust regulatory frameworks, and collaboration between government, professionals, and private developers to create safer cities.
Other dignitaries in attendance included Tpl. Waheed Kadiri FNITP, PPNITP, Past President, Nigerian Institute of Town Planners (Chairman of the event), Professor Modupe Omirin, Dean, Faculty of Environmental Sciences, UNILAG, Dr. Taofik Salau, Head of Department, DURP, UNILAG, and Dr. S.A. Adeyemi, Chairman, Organizing Committee, among several others.
Participants unanimously called for urgent reforms to curb building failures, emphasizing the need for professionalism, transparency, and stricter enforcement of building regulations.
The dialogue is expected to spark renewed policy debates and strategic actions toward ensuring that Lagos, and indeed Nigeria, builds safe, resilient, and sustainable urban spaces where lives are protected, and dreams can thrive.
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ICOC Caring Hearts Pledges More ECD Programmes for Vulnerable Children at FundRaising Event
Published
5 days agoon
July 2, 2025
…Rewards Donors With UK Travel Ticket, TV, Others Via Raffle Draws
The International Church of Christ (ICOC) Caring Heart Initiative (CHI) has pledged to intensify its intervention activities through the Early Childhood Development (ECD) programmes aimed at assisting vulnerable and indigent children in communities and schools.
Elder Imagbe Igbinoba, Board Chairman of the ICOC CHI made the statement at the weekend in Lagos.
Speaking at a fund raising and raffle draw event held in Ikeja, on Saturday, Igbinoba emphasised the organisation’s commitment to uplifting and supporting underprivileged children, adding that as it receives more donations, it would increase its outreach programmes.
He said the fundraising and raffle event was designed to raise ₦30 million to improve the ECG programme of the foundation as well as reward those who donated through ticket purchase and other platforms with opportunities to also win prizes.
Igbinoba explained that the donations would be channeled to support the nutrition, education, healthcare, and overall well-being of underprivileged children in Lagos communities through ECD programme.
He noted that CHI is affiliated with the International Church of Christ (ICOC) Nigeria, receiving 20 per cent of ICOC Nigeria Benevolence Funds, alongside other donations.
“Since our establishment on 9 October 2020, and the subsequent launch of our initiatives on 1 April 2021, we have been driven by a vision: to become the leading non-governmental, not-for-profit, and non-political organisation dedicated to providing quality care for vulnerable children and their families. Registered with the relevant authorities, we are proud to be at the forefront of spreading care, love, hope, and compassion to children in Nigeria,” he stated.
Highlighting the organisation’s achievements, Igbinoba remarked, “CHI has signed Memorandums of Understanding (MoUs) with at least two local government authorities in Lagos and is currently working on signing more. We are collaborating with the government and other stakeholders, such as the Network of Orphans and Vulnerable Children NGOs in Lagos, to reach out to underprivileged children in schools and neighbourhoods.”
He continued, “We have provided school feeding for over 400 vulnerable children and households, awarded bursaries to 30 tertiary education students, supported 200 nursery school children with school fees, and supplied writing materials to 200 primary school beneficiaries. Additionally, we extend monthly health support to three individuals facing severe health challenges. Each milestone represents not just numbers, but lives transformed.”
“Essentially, we focus on the three key areas of child development: teachers, children, and parents. While we offer feeding and bursaries to students, we also provide training for teachers and work with parents to help them become more responsive and to support them with empowerment where needed.”
Igbinoba recounted how the initiative began: “Initially, we started within our church community, but we soon expanded our efforts to assist the wider community. We have conducted surveys and identified areas for further intervention as we acquire more funding. For example, we aim to distribute more food packs to help combat hunger.”
Programme Manager, Mrs. Alice Amolo, added, “CHI initiatives encompass a range of programmes, including the Caregivers Forum, which promotes positive parenting and child protection, and our Early Childhood Development (ECD) Programme, where we collaborate with local preschools to provide essential services. We are committed to fostering holistic development in our children, ensuring they have the resources and support necessary to thrive.”
She expressed her gratitude to sponsors, donors, and guests at the event, noting that while the raffle draw has concluded, donations remain welcome. “We invite our friends and partners to continue supporting this vital mission. Your financial contributions will help nurture the inherent talents and abilities of those we serve, enabling them to flourish and reach their full potential.”
Chairperson of the Fundraising Committee, Dr. Mrs. Funmi Aina, stated, “CHI’s mission remains clear: to provide warm and effective care for vulnerable children and their households. We achieve this through resource mobilisation, caregiver empowerment, improving education, and institutionalising training for our staff and volunteers.”
“Our approach includes advocacy, service delivery, and strategic behaviour change communication. One step at a time, we are dedicated to transforming the lives of vulnerable children in schools and communities,” she concluded.
In the raffle draw, Mr. Ubaka Ochie emerged as the overall winner, taking home a return ticket to the United Kingdom. Mr. Micheal Oloye won a 43-inch television in second place, and Love Akute secured an inverter set in third place.
Numerous other participants also won consolation prizes, including household appliances such as irons and blenders, as well as bags of rice and cartons of noodles.
Sponsors and long-standing donors were honoured with awards and certificates in recognition of their contributions.
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