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GTCO Shareholders Endorse N91.24bn Total Dividend Payout For 2022

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Shareholders of Guaranty Trust Holding Company (GTCO) Plc, have endorsed the payment of a total dividend of N91.236 billion, representing N3.10 per share for the financial year ended December 31, 2022.

This endorsement was made at the holding company’s second annual general meeting held on Thursday, virtually. The Group proposed a final dividend of N2.80 per unit of ordinary share held by shareholders in addition to the interim dividend of 30 kobo interim dividend paid in June, bringing the total dividend for the 2022 financial year to N3.10 per unit of ordinary share.

Shareholders commended the board for the financial performance achieved during the
period under review despite the operating environment. Speaking on behalf of shareholders, the immediate past President of Nigeria Shareholders Solidarity Association, Cheif Timothy Adesiyan commended the management of GTCO for the impressive 2022 financial performance achieved and the consistent dividend policy of the Group.

He also noted that the Group has contributed to the growth of the economy in its lending to Agriculture, SMEs, Real Sector, among others as seen in the Award obtained by the Group in the year.

Speaking to shareholders, the Chairman of GTCO, Mr Hezekiah Oyinlola said as I reflect on 2022, I recall the challenges we faced at every turn and the prospects that became significant milestones in our journey towards creating a robust yet agile institution. As we look across our burgeoning GTCO Universe, we take pride in the concrete outcomes of our diligent efforts and unyielding dedication toward expanding our influence and strengthening our position as a leading provider of financial services in Africa.

He said in 2022, our ambition was crystal clear, and we set out to achieve it with
unwavering focus. We completed the setup of our holding company and acquired full
ownership of Investment One Pension Managers and Investment One Fund Managers, now named Guaranty Trust Pension Managers and Guaranty Trust Fund Managers, respectively.

Our payment subsidiary, HabariPay Limited, also launched in 2022 and almost immediately introduced its flagship product Squad to the market with outstanding reviews. The highlight for me is that these newly created businesses – in payments, fund managers, and pensions ran successfully and were profit-before-tax positive by the end of the year.

On the outlook, Oyinlola stated that the momentum we have built up in recent years means that we are now in a position to leverage every opportunity to grow and sustain our superior financial performance. Our diversified business model and agile systems will enable us to adapt quickly to changing market conditions and turn economic tides in our favor. Our customer-centricity and focus on innovation and long-term value-creation, and will continue to be key drivers of our success in the years ahead.

The Group Chief Executive Officer, GTCO, Mr Segun Agbaje, said in spite of the varying
challenges and headwinds that weighed on growth in 2022, the Group delivered a decent performance posting a pre-tax profit of N214.2 billion representing a dip of 3.0 percent from N221.5 billion posted in full year, 2022. PBT contribution from West Africa decreased from 21.0 percent in December  2021 to 12.3 percent in December 2022 due to the significant impairment sum of N35.6 billion recognized on the Ghanaian sovereign
securities.

He also noted that during the same period, the size of the Nigerian Banking Subsidiary
increased to 84.3 percent from 79.5 percent, while East Africa’s contribution to the Group grew marginally to 3.4 percent from 3.0 percent. The Group also benefited from a 0.9 percent contribution from the Non-Banking Subsidiaries which compensated for the negative 0.8 percent contribution from the United Kingdom in FY-2022.
"Gross earnings increased by 20.4 per cent to N539.2 billion in full year, 2022 from
N447.8 billion in 2021.

Agbaje explained, 2022 was a year that tested our resilience and our determination. As we face the future, we do so with the confidence that we will maximize all opportunities and deal with challenges as they come. I strongly believe that the new holding structure of our organization will prove to be a propeller in our journey toward sustained growth and success.

According to GTCO CEO, what we have as Guaranty Trust Holding Company is not a conglomerate but a structure of complementary businesses that helps us remain agile,
innovative, and adaptable to changing market dynamics, whilst ensuring that we continue to deliver superior returns to our shareholders. We will also continue to dominate the financial services sector, not just because we will continue to pursue technological advancements and digital capabilities that keep us ahead of the curve, but because we will always stay true to the values of hard work, transparency, integrity and putting our customers at the heart of everything that we do.

Since commencing operations in February 1991, Guaranty Trust has maintained an
the unbroken streak of year-on-year growth and a consistent lead in driving the digitization of financial services in Nigeria thanks to its strong service culture, efficient management,
world-class corporate governance standards and bias for innovation.

In April 2021, the reorganization of Guaranty Trust Bank Plc to a financial holding company, Guaranty Trust Group Holding Company was completed as part of the company’s strategy to position for future growth and deliver benefits beyond banking to the people, communities, and businesses who depend on the value we create to thrive.

BIG STORY

Security: Army Foils Kidnap Attempt, Rescue Six Victims In Taraba

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Troops from the 6 Brigade Nigerian Army/Sector 3 Operation Whirl Stroke successfully thwarted a “kidnap attempt” and “rescued six victims” along the Wukari-Kente road in the Wukari Local Government Area of Taraba State.

The operation, conducted on April 27, 2025, was initiated following “a distress call from the Executive Chairman of Wukari LGA alerting security forces to an attack on travellers in the area.”

“Troops stationed at the Forward Operating Base Wukari were swiftly mobilised to the scene.”

This information was conveyed in a statement issued on Tuesday by the Acting Assistant Director, Army Public Relations, 6 Brigade, Captain Olubodunde Oni.

“Responding swiftly, the troops launched a prompt rescue operation to the area and rescued the victims unhurt,” the statement read.

Upon arriving at the location, “troops found a white Toyota Hilux vehicle with a flat tyre abandoned by the roadside.”

“Shortly after, six individuals emerged from the nearby bush, unharmed, and identified themselves as the occupants of the vehicle,” the army said.

The victims recounted that they “were travelling from Yola to Lafia when gunmen, suspected to be kidnappers or armed robbers, ambushed them from the rear.” They “abandoned their vehicle and fled into the bush for safety.”

After confirming the area was secure, “the soldiers assisted in replacing the damaged tyre and escorted the travellers until they were safely back on their journey.”

Commander of the 6 Brigade, Brigadier General Kingsley Uwa, “lauded the troops for their swift response and professionalism.” He “reiterated the brigade’s commitment to protecting lives and property across Taraba State.”

Brig. Gen. Uwa also “urged residents to support security efforts by providing timely and credible intelligence.”

“We remain resolute in our mission to ensure peace and security across Taraba State and its environs,” he assured.

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BIG STORY

JUST IN: My Defection From PDP Imminent, Governor Eno Declares

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Governor Umo Eno of Akwa Ibom State has “given hint of his possible defection to the ruling All Progressives Congress (APC),” noting that the main opposition Peoples Democratic Party (PDP) “was like a spoilt plane and may no longer has the capacity to take him to the next destination from 2027.”

Speaking against the backdrop of recent gale of defections from the PDP with the latest being the Delta State governor Sheriff Oborewori, who moved with several supporters to the APC, Pastor Eno hinted that “the heavily fragmented PDP may soon grind to a halt.”

Addressing a mammoth crowd that thronged the Town Square meeting of the Ukanafun/Oruk Anam federal constituency on Tuesday at the QIC Central School, Ikot Akpankuk, headquarters of Ukanafun local government area, the governor disclosed that “he might join the fray soon as the crucial 2027 election year inches closer.”

“If you wanted to travel with Ibom Airline, and on the verge of taking off, it developed a fault that won’t enable it to fly, won’t you board the next available plane to take you to your destination?” Eno queried.

However, the governor, who enjoined the people to remain steadfast in support of his administration in its quest to deliver on its campaign promises, doled out empowerment succour to over 400 people, including business grants, cars and other freebies.

154 constituents benefited from the Traders Grant, 116 received Farmers Grant, four got N5 million each for the MSME Grant, and 131 were beneficiaries of the Equipment Support Initiative.

He, therefore, urged the beneficiaries to make judicious use of the resources at their disposal, warning beneficiaries to desist from deploying it to ponzi schemes or any other unintended purposes.

He said: “We need to meet with the people from time to time to see them. It’s not only during elections that we should come to see our people. We also have to come and see you in the course of governance, to check your wellbeing, to listen to you, tell you what we have done, and what we are planning to do.

This is the fourth federal constituency we have visited, we have six more to go and we will finish all in time for the budget department to capture the needs in the 2026 budget.

“We will go through your requests and tell you the ones we have decided to do, based on available funds. We might not be able to do all, but whatever is left we will add to subsequent budgets.

“We will always work with the people because this government is of the people, for the people, and by the people,” he stated.

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BIG STORY

Court Orders EFCC To Release Aisha Achimugu Within 24 Hours

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Justice Inyang Ekwo of the Federal High Court in Abuja has instructed the Economic and Financial Crimes Commission (EFCC) to release socialite and businesswoman, Aisha Achimugu, within a 24-hour timeframe.

Justice Ekwo further directed that the involved parties must report back to the court on May 2nd to provide an update on the compliance with his order.

Previously, on Monday, Justice Ekwo had mandated Achimugu to present herself to the anti-graft agency concerning an ongoing investigation related to money laundering and other alleged offenses.

Justice Ekwo also stipulated that following her appearance at the EFCC office, the anti-graft agency was required to return with her to the court on Wednesday, April 30th, for a progress report.

It is worth noting that the EFCC apprehended Achimugu at 5 am on Tuesday at the Nnamdi Azikiwe International Airport.

The EFCC is currently investigating Achimugu regarding allegations of conspiracy, obtaining money under false pretenses, money laundering, corruption, and possessing properties reasonably suspected of being unlawfully acquired.

While she had been arrested and interrogated by the EFCC previously, she was granted administrative bail by the commission.

However, the EFCC claimed that she violated her bail conditions and subsequently declared Achimugu wanted.

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