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New Era! NGX Welcomes Guaranty Trust Holding Company Plc With Closing Gong Ceremony

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The Nigerian Exchange (NGX) Limited, on Tuesday, July 13, marked the listing of Guaranty Trust Holding Company Plc’s (“GTCO Plc”) shares with a Closing Gong Ceremony on the main floor of the exchange.

This follows the completion of all regulatory requirements for the corporate reorganization of the leading financial institution into a holding company structure and the listing of GTCO Plc, on the Nigerian Exchange (NGX) Limited and the London Stock Exchange, replacing Guaranty Trust Bank Plc.

Guaranty Trust was first listed on the Nigerian Exchange in 1997, winning the “Nigerian Stock Exchange President’s Merit Award” within months of its listing.

In 2007, it became the first Nigerian bank to list on London Stock Exchange, the first to dual list on an international exchange, and the first Nigerian company to raise international capital using listed Global Depositary Receipts. Since then, Guaranty Trust has embarked on a decade of unparalleled growth with total assets and shareholders’ funds closing at ₦4.993trillion and ₦837.2billion respectively, at the end of Q1, 2021.

As part of its long-term growth strategy, Guaranty Trust has now adopted a holding company structure wherein GTCO Plc will operate as the parent company of all Guaranty Trust banking businesses across Africa and the United Kingdom as well as other non-banking businesses which will be established following the transition.

Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust, commented: “These are very exciting times for us. Following our transition, we can now compete more effectively with non-banks in this new and evolving competitive landscape, whilst creating more value for customers and shareholders than we ever could as a bank.

Although we are delighted to have completed this rigorous transition process, we know that the hard work has just begun. We are in the final phase of building a new payments business that will deepen and extend digital financial services across Africa. We also believe that we are in a better position to drive an Asset Management business and a Pension Fund business, given our strong retail base and digital-first approach to financial services, which we have honed over the past decade.”

Founded in 1990, Guaranty Trust has maintained an unbroken streak of year-on-year growth and a consistent lead in driving the digitization of financial services in Africa. It is the best managed financial institution in Nigeria, leading the industry across key financial indices, such as Return on Equity (ROAE of 26.0% in Q1 2021), Return on Assets (ROAA of 4.3% in Q1 2021), and Cost to Income ratio (42.6% in Q1 2021).

BIG STORY

JUST IN: Dangote Refinery Stops Sales To Unregistered Marketers

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The Dangote Petroleum Refinery and Petrochemicals Limited has halted self-collection gantry sales of petroleum products at its plant, effective Thursday, September 18, 2025.

This was disclosed in an internal mail obtained by our correspondent on Friday, signed by the refinery’s Group Commercial Operations Department.

According to the directive, the decision is aimed at encouraging broader use of the refinery’s free delivery scheme for retail stations and blocking unregistered marketers from accessing supplies either directly or through third parties.

The company described the measure as an operational adjustment to enhance efficiency and advised marketers to embrace its Free Delivery Scheme, which allows direct shipments to outlets.

It further cautioned that any payments made after the cut-off date would not be recognised.

The message to marketing partners partly stated: “We wish to inform you that, effective 18th September 2025, Dangote Petroleum Refinery and Petrochemicals FZE has placed all self-collection gantry sales on hold until further notice. In light of this development, we kindly request that all payments related to active PFIs for self-collection are also placed on hold until further notice. Please note that any payment made after this date will not be honoured.”

However, the refinery clarified that its Free Delivery Scheme remains active for both existing and new customers.

“We encourage all active and newly onboarded customers to register for the DPRP Free Delivery Scheme, which remains fully operational and offers a seamless delivery experience to your station,” the mail added.

The management also apologised for any inconvenience, assuring stakeholders that the move was necessary to improve operations.

The suspension comes amid an ongoing dispute involving the refinery, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN).

While NUPENG has accused the company of blocking unionisation among its truck drivers despite government intervention, DAPPMAN has criticised the “free delivery scheme,” alleging it forces marketers to depend on Dangote’s fleet at commercial costs.

Dangote Refinery, on the other hand, insists the delivery model is designed to ensure stable supply and reduce costs, accusing marketers of pushing for subsidies and diversion of products. The standoff has fueled concerns around pricing, workers’ rights, and market competition.

The new policy could affect independent marketers and retail operators who have not registered for the scheme and previously relied on direct self-collection at the gantry.

Earlier report had it that Dangote reaffirmed its stance in the face of DAPPMAN’s demands, stressing it would not absorb transportation costs that marketers want classified as subsidies.

This latest clash between Dangote and DAPPMAN comes at a time of rising anxiety over fuel costs and supply logistics nationwide.

DAPPMAN, whose members own most privately run depots in Nigeria, argues that moving products from the refinery’s Lagos base to other regions involves substantial logistics and coastal shipping expenses.

In a statement issued via Dangote Group’s official X account, titled “We Stand By Our Statement on DAPPMAN … Marketers’ ₦1.505trn Subsidy Demand”, the refinery reiterated its right to protect its operations from “misleading reports.”

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BIG STORY

Adron Homes Launches Lemon Friday Plus Promo 2025 With Discounts, Flexible Payments, And December Rewards

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Adron Homes and Properties has announced the official launch of its Lemon Friday Plus Promo 2025, an exciting opportunity for Nigerians to own land at discounted rates while enjoying mouth-watering rewards this festive season.

This year’s edition allows customers to begin their homeownership journey with an initial deposit as low as ₦50,000 and spread payments over multiple instalments. Subscribers also enjoy a 30% discount on land purchases with the option to clear the balance conveniently over 24 months.

Adron Homes’ estates are carefully designed to provide residents with the best of modern living, featuring adequate power supply, good road networks, functional drainage systems, CCTV, 24-hour security, recreational centers, shopping malls, and green spaces that promote healthier lifestyles.

The promo covers estates across Lagos, Ogun, Oyo, Ekiti, Abuja (FCT), Nasarawa, Plateau, Osun, and Niger States, giving prospective homeowners multiple location options in rapidly developing communities.

Promo Rewards by Category:

• BRONZE (₦300,000 deposit): 25kg bag of Rice + 2 Chickens + Vegetable Oil OR Home Theatre.
• SILVER (₦500,000 deposit): A Goat OR 50kg Bag of Rice + 3 Chickens + Vegetable Oil OR Rechargeable Fan.
• GOLD (₦1,000,000 deposit): A Goat + 50kg Bag of Rice + Palm Oil + Garri Ijebu OR 2 Bags of 50kg Rice + 4 Chickens + Palm Oil + Garri OR Washing Machine.
• DIAMOND (₦3.5M deposit on estates above ₦20M before discount): A Cow OR Double-Door Fridge.

Adron Homes has consistently bridged the home ownership gap in Nigeria by introducing flexible and convenient payment plans that allow more families to become homeowners. With initiatives like Lemon Friday Plus, the company is breaking down financial barriers and creating sustainable pathways for Nigerians to secure their future through real estate.

Promo Duration

• Instalment payments for initial deposits run from 7th July to 31st November 2025.
• The promo officially ends 6th January 2026.

“The Lemon Friday Plus Promo is our way of making December unforgettable for our customers,” said Adron Homes’ management. “We are not only offering affordable land ownership, but also giving families gifts that make the festive season brighter.”

Adron Homes invites all aspiring homeowners, investors, and families to take advantage of this limited-time opportunity to own property with flexible payment plans and rewarding bonuses.

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BIG STORY

Dangote Replies NUPENG: Our CNG Trucks Will Create 24,000 Jobs, Drivers Earn Triple Of Minimum Wage

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Aliko Dangote, president of Dangote Group, has dismissed claims that the Dangote Petroleum Refinery is displacing workers, insisting instead that the company is creating thousands of new jobs.

Speaking at a press briefing on Monday, the billionaire said the deployment of 4,000 compressed natural gas (CNG) trucks would generate at least 24,000 direct and indirect jobs nationwide.

“We are not taking jobs away; we are creating more opportunities. The CNG trucks will not be operated by robots,” Dangote said.

He explained that the refinery’s drivers are paid salaries three times higher than the national minimum wage. In addition, employees receive life insurance, health insurance that covers their spouses and up to four children, and a guaranteed lifelong pension.

According to him, the recruitment drive extends beyond drivers to include mechanics, fleet managers, and other technical professionals who will support the new fleet.

The refinery had announced the acquisition of the 4,000 CNG trucks on June 15, saying the move would strengthen its nationwide fuel distribution. By June 29, the company projected that the distribution scheme could save Nigeria over ₦1.7 trillion annually.

However, three months later, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) threatened a nationwide strike, accusing Dangote Refinery of anti-union practices. Though the union suspended a two-day strike on September 9, it warned of possible further action.

‘Refinery not opposed to unions’

Sayyu Dantata, founder of MRS Oil Nigeria Plc, stressed that Dangote Refinery was open to working with NUPENG and other labour organisations.

“We are not against unions. We want to live and work alongside them. There’s no problem with that,” he said.

He noted that the refinery only became aware of the union’s grievances through media reports, despite his longstanding ties with industry unions.

“By law, unions are expected to give notice and a grace period before action. Even so, we went into dialogue. Unionism is not by force. People have the right to decide whether or not to belong,” Dantata said.

He added that the refinery welcomes all business partners without discrimination, whether they are union members or not.

“Our focus is the common man. Most of our drivers prefer independence because we ensure they earn a decent wage,” he said.

According to him, the new working conditions have elevated the social status of truck drivers in Nigeria. “For the first time, a driver can proudly tell his children that he is a truck driver and still provide them with food, shelter, and education,” Dantata said.

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