Business
Shareholders Approve GTBank’s Planned HoldCo Structure
The shareholders of GTBank Plc has approved the holding company structure for the bank, as they expressed excitement over the benefits they would derive from the new structure.
At the Court ordered meeting held on Friday, the investors gave their approval to the company for the transfer of the 29,431,179,224 ordinary shares of 50 kobo each in the issued and paid-up share capital of the bank held by them to Guaranty Trust Holding Company Plc. This was done in exchange for the allotment of 29,431,179,224 ordinary shares of 50 kobo each to the shareholders in the same proportion to their shareholding in the bank credited as fully paid without any further act or deed.
Expressing his members excitement over the planned restructuring, the founder, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, explained that the shareholders are excited because the arrangement the bank has put in place is devoid of complexities usually known as share reconstruction.
According to him, the bank has performed well under the leadership of the Chairperson and the Managing Director and thus projected that the HoldCo would perform better if the duo are still in charge of the new brand.
He said, “We are excited about the development because we are going to get value as everything we have would be transferred to the holding company. There will be no manipulation as a result of reconstruction that usually leads to fractional shares.”
Also commending the bank’s leadership and ingenuity, The President, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, noted that, “GTBank has over the years proven to be a force and leading initiator of revolutionary advancement and technology based development in the nation’s banking industry and we look forward to the growth and advancement it is sure to bring into the new business areas it will be taking on with the Holdco structure”.
“The arrangement where all existing shares of the bank would be transferred entirely to the Holdco in the name of the beneficial owners is good, while the same number of units and percentage would be held in the new entity, is commendable”, he added.
Also speaking at the Court Ordered Meeting, on Friday, Managing Director/CEO, GTBank Plc, Mr. Segun Agbaje, explained that in line with Central Bank of Nigeria (CBN)’s regulations, which require the separation of commercial banking business from other financial services businesses, the bank is adopting a HoldCo structure.
He said, “I am delighted over the approval by shareholders for the holding company and I assure the investors of a more rewarding future. The bank will not embark on any share reconstruction as the same number of shares they have with the bank will be maintained.
“Under the new structure, existing shareholders of GTBank would be migrated to Guaranty Trust Holdings via a share-for-share exchange between the shareholders of GTBank and GTHoldings.”
While explaining the benefits of the HoldCo structure, Agbaje explained that the overall strategy was to create an operating model that would profitably grow the bank’s presence in the market for commercial banking and non-banking financial services in order to achieve the aspiration to be the dominant financial services group.
Business
WFA APPOINTS GLOBAL BRAND EXECUTIVES TO EXPANDED LEADERSHIP COMMITTEE
WFA APPOINTS GLOBAL BRAND EXECUTIVES TO EXPANDED LEADERSHIP COMMITTEE
STOCKHOLM — The World Federation of Advertisers (WFA) has announced the appointment of senior executives from leading global brands to its Executive Committee, in a move aimed at strengthening its global influence and industry coordination.
The appointments were unveiled during the WFA Global Marketer Week held in Stockholm.
The new members, drawn from top multinational corporations, include executives from Driscoll’s, Haleon, IKEA and Nissan. They join an already influential body comprising marketing and corporate affairs leaders from major companies such as Best Buy, Danone, Diageo, Grab, Kenvue and Tata Group.
Also joining the Executive Committee are representatives of key advertiser bodies, including Josh Faulks, Chief Executive Officer of the Australian Association of National Advertisers; Simon Michaelides, Director General of the Incorporated Society of British Advertisers; and O’tega Ogra, Vice President of the Advertisers Association of Nigeria and Senior Special Assistant to the President of Nigeria on Digital Communications, Engagement and New Media Strategy.
WFA President David Wheldon and Deputy President Philip Myers of Ferrero will continue in their roles, alongside all regional vice presidents.
The newly appointed members are:
Jiunn Shih, Global Chief Marketing Officer, Driscoll’s
Silas-Lewis Meilus, Global Head of Media Operations, Haleon
Joel Renkema, Global Head of Insights, IKEA
José Román, Corporate Executive, Global Sales and Marketing, Nissan
Josh Faulks, CEO, AANA
Simon Michaelides, Director General, ISBA
O’tega Ogra, Vice President, ADVAN
Industry observers say the expanded committee reflects WFA’s commitment to deeper global collaboration and stronger representation across regions and sectors within the marketing and advertising ecosystem.
Business
FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS
FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS
The Chief Press Secretary (CPS) to the Chairman of the Independent National Electoral Commission (INEC), Mr. Adedayo Oketola, has said that a purported X (formerly Twitter) account attributed to the Commission’s Chairman, Prof. Joash Ojo Amupitan, SAN, is fake and part of a coordinated disinformation campaign.
In a public statement issued on Monday in Abuja, Mr. Oketola disclosed that a comprehensive, multi-layered forensic investigation conducted by independent cybersecurity experts has conclusively established that the INEC Chairman does not operate any personal X account.
He said, “The Independent National Electoral Commission (INEC) , committed to a full forensic investigation, commissioned an independent forensic cybersecurity expert, who conducted a multi-layered forensic and digital investigation using X platform data, internet archive records, OSINT tools, identity forensics and cross-platform analysis.”
Oketola stressed that all posts, replies, and screenshots linking him to the handle @joashamupitan are fraudulent, forensically unverifiable, and technically impossible.
The controversy began on April 10, 2026, when viral social media posts alleged that the Chairman made a partisan comment — “Victory is sure” — in response to another user, supported by screenshots and purported digital records.
However, the CPS said the forensic investigation uncovered clear evidence of fabrication and impersonation, highlighting the following key findings:
· No Digital Linkage: There is no connection between the disputed X account and Prof. Amupitan’s verified email addresses or phone numbers, as multiple recovery and verification attempts failed to establish any link.
· False BVN/OPay Claims: Data used to suggest ownership of the account only confirms identity and does not establish control of any social media handle, making such claims a logical fallacy.
· Timestamp Manipulation: The alleged reply “Victory is sure” was posted 13 minutes before the original tweet it responded to—an occurrence that is technically impossible and definitive proof of fabrication.
· No Historical Record: Searches on the Internet Archive’s Wayback Machine showed zero evidence of the account or its alleged activity prior to April 2026.
· Non-Existence on X Platform: Live checks confirmed that the alleged reply does not exist and has never existed on the platform.
· Account Renaming Pattern: On the same day the screenshots went viral, the account was renamed @sundayvibe00, set to private, and labelled a “parody account,” indicating deliberate impersonation and damage control.
· Coordinated Multi-Platform Impersonation: At least seven fake accounts across Facebook and Instagram using the Chairman’s identity were identified, pointing to a sustained disinformation effort.
“The forensic evidence is comprehensive, multi-sourced, and unambiguous. The posts attributed to Prof. Joash Ojo Amupitan on X are fabricated. The account is a clear case of impersonation,” Mr. Oketola said.
Quoting one of the independent investigators, he described the development as “a coordinated digital impersonation and disinformation campaign,” warning that advances in artificial intelligence had made it easier to fabricate misleading content.
He urged the public to avoid sharing unverified information, noting that “the fact that content goes viral does not make it authentic,” and called on media organisations to prioritise accuracy over speed.
Mr. Oketola said the independent forensic report had been referred to the law enforcement agencies for necessary action. He also appealed to law enforcement agencies to investigate the origin of the fake account and prosecute those responsible under the Cybercrimes (Prohibition, Prevention, etc.) Act.
He said, “Media organisations, in particular, have a duty to apply strict forensic verification standards to social media posts and screenshots before publishing them, especially when such content implicates public officials or carries serious consequences for public trust and institutional credibility. Accuracy, not speed, must guide reporting in matters of this nature.”
He reiterated that all official communications from INEC are disseminated exclusively through its verified platforms, including its website (www.inecnigeria.org), verified X account (@inecnigeria), official Facebook page, online news portal (www.inecnews.com), formal press statements from its headquarters in Abuja, and official media briefings. Any account purporting to represent the INEC Chairman in a personal capacity, he said, should be treated as fraudulent unless formally verified by the Commission.
Business
How FirstBank is investing in Its People and Building Future Leaders
How FirstBank is investing in Its People and Building Future Leaders
For an average 9-5er, having a job isn’t enough. You want a career that grows with you, gives you stability, and opens doors to bigger opportunities. People everywhere are looking for workplaces that don’t just pay salaries but actually invest in their staff, helping them learn, lead, and succeed.
That’s exactly what FirstBank is doing. The Bank is building a future where every employee has the opportunity to grow, lead, and thrive. Through its human capital management and development agenda, FirstBank is creating numerous pathways for staff to transform their careers and become tomorrow’s leaders.
Conversion Programme: Turning Opportunities Into Careers
Needless to say that there is no desire for the 9-5er to remain in a temporary role when they can secure a full-time career. With FirstBank’s Conversion Programme, eligible non-core employees who have served for at least one year can transition into permanent positions. This initiative ensures that hardworking staff are rewarded with stability, growth, and the chance to contribute more meaningfully to the Bank’s success.
Leadership Programmes: Grooming the Next Generation
FirstBank has designed three flagship programmes to identify and nurture high-potential talents:
- FirstBank Management Associate Programme (FMAP): A 24-month fast-track initiative that grooms future middle managers. Upon completion, participants are promoted to Assistant Manager grade, regardless of their previous grade.
- Leadership Acceleration Programme (LAP): Focused on preparing internal middle-management talents for leadership responsibilities, ensuring the Bank’s succession pipeline remains strong.
- Senior Management Development Programme (SMDP): A programme for senior managers who are proven leaders in their functions and critical to the Bank’s succession plan.
These programmes are not just training—they are career accelerators, designed to put staff on the fast lane to leadership.
FirstAcademy: Learning With Global Standards
Backing these initiatives is FirstAcademy, FirstBank’s corporate university, accredited by the Chartered Institute of Bankers of Nigeria (CIBN).
Staff also benefit from partnerships with institutions like Rome Business School and Association of Chartered Certified Accountants (ACCA), gaining access to world-class training—often at discounted rates
A Workplace That Values People
FirstBank’s parent company, First HoldCo PLC, was named second in the Best Workplaces in Financial Services in Nigeria. The Bank remains firmly committed to responsible employment practices, ensuring that all colleagues are treated with dignity, fairness, and respect.
The Future Is Human
With these initiatives, FirstBank is showing that its greatest investment is its people. By empowering staff through various growth opportunities, the Bank is not just building a workforce, it is cultivating leaders who will shape the future of banking in Nigeria and beyond.
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