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

Published

3 years ago

May 15, 2023

Charles Flames

587 Views

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

Cybercriminals cloning DStv, other brands to steal bank accounts across Africa

According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.

Published

2 days ago

August 21, 2026

OCHEFA

26 Views

Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.

More than 100 fake websites linked to the malware campaign have been identified since August 2025.

Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.

The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.

NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.

The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.

Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.

The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.

Business

Cement price hits N16,000 per bag

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

Published

2 days ago

August 21, 2026

OCHEFA

32 Views

• Chairman of BUA cement, Abdul Samad Rabiu (ASR)

Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.

Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.

Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.

Reinforcing steel now costs N1.15 million per tonne, up from N850,000.