Business
Stanbic IBTC Charts Course for Real Estate Development
Stanbic IBTC Charts Course for Real Estate Development
Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, charted a new course for real estate investment in Nigeria. The financial institution was appointed to manage a real estate investment trust scheme, UPDC REIT, as confirmed by the Security and Exchange Commission (SEC) in May 2021.
The UPDC Real Estate Investment Trust (UPDC REIT) was listed on the Nigerian Exchange Limited (NGX) in year 2008. The fund manager, Stanbic IBTC Asset Management, was bestowed with the responsibility to implement the closed-ended fund’s investment strategy and other related activities.
Since it took up management of the REIT, Stanbic IBTC Asset Management focused efforts on improving the operational and governance structure of the REIT to form the bedrock for improved performance. Likewise, investor relations was prioritised with the presentation of a ‘Fact Behind the Figures’ session on the NGX in December 2021. These measures had been sustained.
Recently the company announced the 2021 audited financial result for the UPDC REIT. The result showed that there were significant rooms for improvement in the largest REIT in Nigeria.
The Fund Manager’s analysis highlighted two critical reasons for the decline recorded. One was the impact of the COVID-19 pandemic on commercial properties within the portfolio which contributed over 60% of the portfolio’s rental income, and the other was the effect of portfolio revaluation, in view of market realities, which resulted in a 19% decline.
The REIT’s rental income in 2021 declined to NGN1.26 billion, compared with NGN1.57 billion generated in the previous year. The decline was underpinned by reduced occupancy level, which was due to remote working strategies adopted by many corporates in response to the COVID-19 pandemic. Additionally, due to delayed recovery of rental income from some tenants who struggled to bounce back from the impact of COVID-19 on their businesses, a NGN141 million impairment charge was booked.
A fair value loss of NGN5.04 billion was taken on the investment properties because the REIT’s properties were revaluated to fulfil regulatory requirements. Thus, the REIT recorded a loss before tax of NGN4.48 billion from the positive of NGN1.93 billion in the prior year.
As the spread of the pandemic waned, the Fund Manager was optimistic that outstanding rental fees would be recovered, and the demand for commercial office spaces would improve as more firms returned to work in office premises.
Stanbic IBTC Asset Management offered copious reassurance to stakeholders. Oladele Sotubo, Chief Executive of the Asset Management Company, stated in a commentary that, “as a Fund Manager, we have a responsibility to conduct due diligence in ensuring that the Fund which we now manage is accurately valued in line with regulatory requirements and in alignment with our expert knowledge of Funds management. With the improved liquidity on the stack and a significant discount presented by the current market price, a unique opportunity is presented to investors that seek to buy into the future of the REIT.
“In addition, we are exploring opportunities in alternative sectors which have shown economic resilience and become profitable in the last few years. Some of these sectors include retail purpose-built student accommodation, short lets, industrial properties, and so on. We expect that opportunistic acquisitions in these sectors would give room for short to medium term capital gains.
“I will summarise by saying that we are not too worried. Rather, we are excited at this opportunity to bring our experience and expertise to bear in returning the UPDC REIT to profitability while also contributing tangibly to the provision of sustainable housing and development of Nigeria’s real estate sector.”
The Chief Executive of Stanbic IBTC Holdings, Dr Demola Sogunle, commented on the Financials saying, “as a forward-thinking organisation, we are not oblivious of the critical nature of this sector and the need for growth, hence our commitment to evolve the UPDC REIT such that investors can enjoy substantial returns on their investments. Now more than ever, we encourage Nigerians to invest in UPDC REIT, as those who invest at this time are more likely to benefit from significant medium to long term gains as the Fund performance improves and yield takes on an upward curve.”
UPDC REIT is a close-ended property fund sponsored by UPDC Plc (UPDC) in 2013 via an issue of 3,000,000,000 units at NGN10 each and is listed on the Nigerian Exchange Limited (NGX).
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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