Business
GTCO Shareholders To Share N91.2bn Dividend For FY-2022
GTCO AGM Photo: Left -Right : Mrs. Cathy Echeozo, Non-Executive Director; Mr. Segun Agbaje, Group CEO and Mr. Erhi Obebeduo, Company Secretary all of Guaranty Trust Holding Company Plc at the Group’s 2nd Annual General Meeting (AGM) held in Lagos
The Shareholders of Guaranty Trust Holding Company (GTCO) Plc have lauded the Board of Directors of the company for the consistent dividend payouts.
The shareholders made the commendation during the company’s second annual general meeting where they endorsed the payment of a total dividend of N91.236 billion, for the financial year ended December 31, 2022.
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 paid in June. This brought the total dividend for the 2022 financial year to N3.10 per unit of ordinary share.
Timothy Adesiyan, the immediate past President of Nigeria Shareholders Solidarity Association, spoke on behalf of shareholders.
He commended the GTCO management for the impressive 2022 financial performance acheived and the consistent dividend policy of the Group.
He also noted the the Group has contributed to the growth of the economy in its lending to Agriculture, SMEs, Real Sector, among others, saying this was seen in the award obtained by the Group in 2023.
GTCO Chairman, 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 towards expanding our influence and strengthening our position as a leading provider of financial services in Africa.
“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 his part, the Group Chief Executive Officer, GTCO, Segun Agbaje, said that 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 per cent from N221.5 billion posted in 2022.
” PBT contribution from West Africa decreased from 21.0 per cent in December 2021 to 12.3 per cent in December 2022 due to the significant impairment sum of N35.6 billion recognised on the Ghanaian sovereign securities,” he said .
Business
NBS says rebasing behind inflation’s dropping
NBS, in the report published on its website on Monday, headline inflation further declined to 14.45 percent compared with 16.05 percent recorded in October 2025.
The National Bureau of Statistics (nbs) attributes the droppings in headline inflation to the rebasing exercise it carried out five months ago, with the new base year set at 2024 instead of 2009.
NBS, in the report published on its website on Monday, headline inflation further declined to 14.45 percent compared with 16.05 percent recorded in October 2025.
NBS said that the Consumer Price Index rose to 130.5 points in November 2025 from 128.9 points in October, reflecting a 1.6-point increase from the preceding month (128.9).“
Looking at the movement, the November 2025 Headline inflation rate showed a decrease of 1.6 per cent compared to the October 2025 Headline inflation rate,” the NBS report read.
On a month-on-month basis, headline inflation stood at 1.22 per cent in November, higher than the 0.93 per cent recorded in October, indicating that average prices still increased at a faster pace during the month despite the moderation in annual inflation.
The statistical agency noted that on a year-on-year basis, headline inflation in November 2025 was 20.15 percentage points lower than the 34.60 per cent recorded in November 2024, largely reflecting the effect of the rebasing exercise, with the new base year set at 2024 instead of 2009.
Data from the report showed that the average CPI for the twelve months ending November 2025 increased by 20.41 per cent compared with the average of the preceding twelve months, representing a sharp slowdown from the 32.77 per cent recorded in November 2024.
Business
How To Maintain Electricity Availability in 2026 – CPPE
Dr Yusuf emphasised that the rising power sector debt currently at about ₦4 trillion, is fiscally unsustainable without deeper structural corrections, improved transparency, and gradual but credible reform implementation.
The Centre for the Promotion of Private Enterprises (CPPE) has recommended policy interventions necessary to maintain power availability for households and businesses in 2026.
CPPE in its policy brief on Power Sector, released on December 14, 2025, noted that Nigeria’s power sector remains one of the most challenging areas of the country’s economic reform agenda.
Dr Muda Yusuf , its CEO, noted :” Despite multiple reform efforts over the years, the sector continues to face deep structural, financial, and governance challenges.
These challenges are multi-dimensional, spanning political economy constraints, tariff distortions, weak investor capacity, transmission bottlenecks, and a persistent liquidity crisis across the value chain.”
Dr Yusuf emphasised that the rising power sector debt currently at about ₦4 trillion, is fiscally unsustainable without deeper structural corrections, improved transparency, and gradual but credible reform implementation.
CPPE, he said, therefore calls for decisive action by the government through the industry’s regulators , the GENCOs and the Discos, to address structural inefficiencies, improve governance, and ensure fiscal discipline.
“A balanced approach—combining short-term government support with medium- to long-term structural reform—is essential to building a financially viable, reliable, and inclusive power sector that can support Nigeria’s economic growth and development,” said Dr Yusuf.
Business
BUA Group’s Long Service Awards: Rabiu Splashes N30bn on Staff (Video)
Five employees received N1 billion ($691,000) each, while another five were awarded N500 million ($345,000). Several others went home with N100 million ($69,000), and dozens more received sums ranging from N5 million ($3,450) to N20 million ($13,810), ensuring the rewards extended beyond senior staff and reflected the breadth of the workforce.
•Abdul Samad Rabiu
Abdul Samad Rabiu, the Chairman of BUA Group, on Saturday, Dec. 13, 2025, shared $20.7 million (about N30 billion )in cash rewards to staff for their long -service and loyalty across the conglomerate.
The payouts were announced at the BUA Night of Excellence Long Service Awards held at Eko Hotel & Suites in Victoria Island, Lagos.
The annual event, which brought together staff across BUA Group and its subsidiaries, was designed to recognize years of service, loyalty and day-to-day contributions that often go unnoticed outside company walls.
At the ceremony, Rabiu approved cash awards spanning multiple levels of the organization.
Five employees received N1 billion ($691,000) each, while another five were awarded N500 million ($345,000). Several others went home with N100 million ($69,000), and dozens more received sums ranging from N5 million ($3,450) to N20 million ($13,810), ensuring the rewards extended beyond senior staff and reflected the breadth of the workforce.
The awards build on a pattern that employees say has become familiar at BUA.
See video below:
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