Category: Business

  Guaranty Trust Bank Ltd (GTBank), the banking subsidiary of Guaranty Trust Holding Company Plc (GTCO Plc or the Group), emerged winner in four major categories at the 12th annual Brand Africa 100: Africa’s Best Brands 2022 rankings of the Top 100 Most Admired Brands in Africa. The award is an initiative by Brand Africa aimed at driving Africa’s competitiveness and creating a positive image through strong brands with GeoPoll, the world’s leading mobile surveying platform, and Kantar, a well-respected consumer insights and data analytics company, as key technical partners. In the…

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In collaboration with Interswitch, FirstBank has launched a promo to reward users of the FirstMobile app, its industry-leading mobile banking application. The promo tagged FirstMobile Cash-out Promo will run for 3 months. The promo, which started on Monday, 21st March 2022 will end on Tuesday, 21st June 2022. Various prizes including, N1,000,000, N40,000, N10,000.00 cash prizes, N40,000 Airtime, LED Televisions, refrigerators, washing machines, air conditioning systems will be won in the course of the three months campaign. A minimum of two bills payment worth N1000 and five airtimes of at…

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Nigeria’s premier banking institution and leading financial services inclusion services provider, First Bank of Nigeria Limited has won two awards: Best Bank in Nigeria 2022 and Best Banking Digital Transformation Nigeria at the International Investor Awards 2022, a print and online publication that provides insights, news and visual informative pieces with topics ranging from world markets, investing opportunities, industry analysis and so much more. All content is dedicated to the global investment community that wants to take a step ahead. The bank was recognized with the Best Bank in Nigeria…

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Guaranty Trust Holding Company Plc (“GTCO Plc” or “the Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2022, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦54.3billion, representing an increase of 1.1% over ₦53.7billion recorded in the corresponding period March 2021. FX translation of the FCY loan book led to a drop in the Group’s net loans by 4.7% from ₦1.80trillion recorded as at December 2021 to ₦1.72trillion in March 2022. Deposit…

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Wema Bank says its attention has been drawn to recent reports in the media on money laundering and bribery allegations on a customer’s transaction. In a statement by the Bank, it said the publication went ahead to mention the names of certain Wema Bank management staff who were allegedly involved in the said transaction. The statement reads, “The bank wishes to state categorically that there is no merit in the article, and it is a malicious publication against members of our staff and the bank’s customer. “The said allegations are…

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Our attention has been drawn to a video circulating online about a man singing at one of our branches. Contrary to media reports claiming that the man was wrongfully debited by the bank, the video is actually a picketing exercise organized by the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Employees over a dispute they have with the Anambra State Urban Water Holding Corporation and Anambra State Waste Management Authority. To this end, we had earlier issued a statement explaining that while the Union obtained a garnishee…

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Three Deposit Money Banks in Nigeria have been fined N800m by the Central Bank of Nigeria for violating regulations barring customers from transacting in cryptocurrencies. According to a Bloomberg report released on Wednesday, the three banks are Access Bank Plc, Stanbic IBTC, and the United Bank for Africa Plc. The report noted that the penalties were part of efforts by the apex bank to ensure that banks implement an order to block trading in cryptocurrencies due to the threat they pose to Nigeria’s financial system. The directive was contained in…

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SoftTech IT Solutions and Services Ltd., a Nigerian information technology solutions company, and its Managing Director, Mr Isah Kantigi, have been suspended by the World Bank for alleged corrupt practices. The firm, which was involved in the National Social Safety Nets Project, was sanctioned for 50 months while the managing director was sanctioned for 60 months. This was contained in a statement titled ‘World Bank Group debars SoftTech IT Solutions and Services Ltd. and its managing director’, which was published on the bank’s website on Wednesday. The statement read in…

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