Author: Daily Post Nigeria

Shareholders jubilate as GTCO announces highest dividend payout of N12.76 kobo

The shareholders of Guaranty Trust Holding Company Plc (GTCO) are in jubilation as the management of the financial institution announced the highest dividend payout of N12.76 kobo in the Nigerian banking sector for the 2025 financial year.

The shareholders on Tuesday at the GTCO’s 5th Annual General Meeting (AGM) lauded the Group’s impressive 2025 financial year performance and also for meeting the Central Bank of Nigeria (CBN)’s N500 billion new minimum capital requirement.

Speaking at the AGM, the president of the Nigerian Shareholders’ Solidarity Association, Chief Timothy Adesiyan, expressed excitement for the management dividend payout for 2025FY, stressing that the board has demonstrated discipline to sustain its dividend payout to shareholders.

Another shareholder, the chairman of the Pragmatic Shareholders Association of Nigeria (PSAN), Mrs. Bisi Bakare, lauded the management for paying shareholders a N12.76 kobo total dividend payout in 2025; she noted that GTCO makes history as the first Nigerian bank to reward shareholders with a N12.76 kobo dividend payout, urging the management to maintain such a gesture.

The management of GTCO had declared an interim dividend of N1.00 per share for the half-year ended June 2025 and a final dividend of N11.76kobo in the 2025 financial year performance, bringing its total dividend to N12.76kobo for the 2025 financial year.

Responding to shareholders, the Board Chairman of GTCO, Suleiman Barau, said over time, the Group has evolved from a single-line banking institution into a broader financial services ecosystem encompassing banking, payments, funds management, and pension administration.

“This diversification is not simply a structural change; it represents a strategic effort to build an institution that can serve customers more comprehensively while creating multiple engines of sustainable growth.

“A diversified ecosystem allows the Group to operate with greater balance across economic cycles, reduces concentration of risk, and broadens the value proposition we offer to individuals, businesses, and institutional clients,” he said.

He noted that the continuing management’s discipline underpins its risk culture. “In an environment where macroeconomic conditions remain fluid across many markets, maintaining a healthy balance sheet and strong credit practices is essential,” he said.

He added that “The Board remains deeply committed to ensuring that the Group’s growth is anchored in careful risk assessment, responsible lending practices, and robust internal controls. “Ultimately, what defines a strong financial institution is not simply its performance in favorable conditions, but its ability to remain stable, trusted, and relevant through periods of uncertainty.

“The durability of our performance reflects years of careful institution-building, disciplined leadership, and shared commitment across the organization to long-term value creation,” Barau added.

The Group Chief Executive Officer, GTCO, Segun Agbaje, stated that 2025 FY was a year of deepening this integration. “Across our banking, payments, asset management, and pension businesses, we leveraged data, digital tools, and operational insight to create frictionless experiences for our customers across Africa and the United Kingdom.

“By connecting our personal and business solutions, we are able to extend the reach of each business line while amplifying the value delivered to customers,” he said.

He expressed that 2025 would be remembered as a landmark year in GTCO’s growth and expansion journey with the successful listing of its shares on the London Stock Exchange.

“This historic achievement makes GTCO Plc. the 1st financial services institution in West Africa to list its ordinary shares on the London Stock Exchange’s (LSE) main market for listed securities, strengthening our capital base and enhancing liquidity for shareholders,” he said.

Looking to 2026, Agbaje expressed that “GTCO execution discipline will remain our defining advantage. By integrating our ecosystem offerings, deepening customer engagement, and leveraging platform-driven solutions, we will continue to create meaningful experiences and long-term impact for individuals, businesses, and communities.

“Technology continues to enhance operational efficiency, customer experience, and insight-driven decision-making, while a robust balance sheet and disciplined capital management provide the flexibility to act decisively across market cycles.

“In a landscape shaped by macroeconomic and geopolitical uncertainties, GTCO enters 2026 confident, resilient, and focused.

“Our ecosystem is stronger, our ambition greater, and our commitment unwavering. Fellow Shareholders, the next chapter of GTCO promises to be as historic as the last, and we are grateful for your continued trust and partnership.”

GTCO announces highest dividend payout of N12.76 kobo

Shareholders of Guaranty Trust Holding Company Plc (GTCO) have approved a total dividend of N12.76 per share for the 2025 financial year, the highest payout in Nigeria’s banking sector.

The approval was given at the company’s 5th Annual General Meeting (AGM), where shareholders commended the board and management for delivering robust earnings and sustaining a consistent dividend policy amid prevailing economic headwinds.

The total dividend comprises an interim dividend of N1.00 per share and a final dividend of N11.76 per share, bringing total shareholder returns for the year to N12.76 per share.

Speaking at the meeting, President of the Nigerian Shareholders’ Solidarity Association (NSSA), Chief Timothy Adesiyan, expressed satisfaction with the payout, noting that it reflects the board’s discipline and commitment to rewarding investors.

He emphasised that the consistency in dividend payments underscores management’s ability to balance profitability with shareholder value.

Similarly, Chairman of the Pragmatic Shareholders Association of Nigeria (PSAN), Mrs. Bisi Bakare, described the dividend as historic, stating that GTCO has set a new benchmark in the Nigerian banking industry.

She commended the management for achieving what she described as an unprecedented payout level and urged the Group to sustain the momentum in subsequent financial years.

Shareholders also acknowledged the Group’s successful compliance with the Central Bank of Nigeria’s N500bn minimum capital requirement, describing it as a critical milestone that strengthens GTCO’s balance sheet and positions it for future growth.

Chairman of the Board, Suleiman Barau, said the Group’s strong performance reflects its strategic evolution into a diversified financial services ecosystem spanning banking, payments, asset management, and pension administration.

According to him, the diversification is aimed at creating multiple streams of sustainable growth, reducing exposure to cyclical risks, and enhancing the value proposition to customers across different segments.

“This diversification is not simply a structural change; it represents a strategic effort to build an institution that can serve customers more comprehensively while creating multiple engines of sustainable growth,” Barau said.

He added that the Group’s risk management framework remains a core pillar of its operations, noting that maintaining a strong balance sheet and prudent lending practices are essential in navigating uncertain macroeconomic conditions.

Group Chief Executive Officer, Segun Agbaje, described the 2025 financial year as a defining period for GTCO, driven by deeper integration across its business lines and increased deployment of digital technologies to enhance customer experience.

He also highlighted the company’s listing on the London Stock Exchange (LSE) as a landmark achievement, making GTCO the first West African financial services institution to list its ordinary shares on the Exchange’s main market, thereby boosting capital strength and improving liquidity for shareholders.

Agbaje said the Group continues to leverage data, digital platforms, and operational synergies to deliver seamless services across Africa and the United Kingdom, while reinforcing its long-term growth strategy.

Looking ahead, he expressed optimism about the Group’s prospects, noting that disciplined execution, innovation, and strong capital buffers will remain central to its operations.

“In a landscape shaped by macroeconomic and geopolitical uncertainties, GTCO remains resilient and focused on delivering sustainable value to shareholders,” he said.

The shareholder-approved dividend and strong financial performance further reinforce GTCO’s position as a leading player in Nigeria’s banking industry, with a track record of consistent returns and strategic expansion.

GTCO Pays Highest Dividend In Nigeria’s Banking Sector History is first published on The Whistler Newspaper

Former Vice President Yemi Osinbajo has shared the reason he stopped drinking alcohol a long time ago.

Osinbajo said that meeting a former United Nations (UN) colleague at a restaurant in Mogadishu, the capital of Somalia, made him decide to stop drinking alcohol.

The former Vice President recalled how he drank alcohol even though he was a born-again Christian and a pastor.

He said that his UN co-worker, who referred to him as a priest during a meal at the restaurant, made him reconsider drinking alcohol.

Osinbajo said, “One of the other things I learned in Mogadishu is why I shouldn’t drink alcohol. You know, I was really sure that Jesus turned water into wine, so why shouldn’t I drink?

“Of course, some people might say that the wine wasn’t really alcoholic, but as far as I’m concerned, Jesus turned water into wine. There are a lot of people who drink wine, so I figured maybe I should try my own wine now and then, like red wine, and I also enjoy beer.

“While I was going through this, I decided that I would keep drinking my beer even though I had been born again. In fact, on that specific Sunday, I was heading back from the fellowship meeting where I had given a sermon.

“I guess somehow I ended up becoming the pastor of that group. The people there thought I was a good fit for the role, so they just made me their pastor without any official process.

“So I was coming back from the fellowship and wanted to buy two cans of Heineken and then go to my room to read my Bible. So there I was, coming back from that fellowship, and there were lots of restaurants in the UN compound in Mogadishu.

“So I went to this particular restaurant and as I walked in, I saw a lot of my colleagues from different countries drinking beer. As soon as I came in, they all started hiding their drinks.

“I went over to one of the guys from my office, a guy from Denmark, and asked him why he was hiding his whiskey. He told me, ‘You know, you’re the priest, we mustn’t be drinking where the priest is.’ It immediately occurred to me that there was no way I could be drinking there.

“How does the priest drink? It was very clear to me that God was definitely telling me that yes, all things may be lawful, but not all things are helpful, and all things may be lawful, but not all things build up.

“From that moment on, it was very clear to me, and ever since that day, I haven’t touched alcohol. That was a long time ago.”

Video

Why I stopped drinking alcohol – Osinbajo (VIDEO)

The management of the College of Nursing, Jalingo, has dismissed reports alleging that students staged a protest over an increase in tuition fees, describing the claims as false and misleading.

Reports recently circulating on social media claimed that the institution had reviewed its fee structure, sparking unrest among students.

However, the Provost of the College, Dr Dorcas Dugule, refuted the allegations, stating that the institution’s management had made no such decision.

“The information is a figment of the imagination of its publishers. At no point has the management initiated or even considered any increase in tuition fees, let alone a situation that could lead to a student protest,” she said.

Dr Dugule, who made the position of the school known on Tuesday in Jalingo, expressed concern over what she described as the rise of unverified and sensational reporting, warning that such practices misinform the public and damage the credibility of journalism.

“It is alarming that anyone claiming to operate under professional guidelines would publish such a damaging report without the most basic step of verification. This is not only reckless but also a disservice to the public and the institution involved,” she added.

She urged the public to disregard the reports, assuring that the college remains stable and focused on its academic mandate. According to her, since assuming office in late 2025, the administration has prioritised institutional development, discipline, and improved standards in both academic and infrastructural areas.

The Provost also commended the cooperation of the institution’s management team, noting that their efforts are aimed at positioning the college as a centre of excellence in nursing education.

Dr Dugule further called on the Nigerian Union of Journalists (NUJ) and other regulatory bodies to strengthen oversight within the profession, stressing the need to enforce ethical standards and hold accountable those who spread misinformation.

“The consequences of publishing unverified information are far-reaching. It can incite unnecessary panic, damage reputations, disrupt institutional harmony, and undermine public trust. Journalists must understand that credibility is their most valuable asset, and once lost, it is difficult to regain,” she said.

She urged media practitioners to prioritise accuracy, fairness and truth in their reporting, noting that the integrity of journalism depends on adherence to ethical standards.

College of Nursing Jalingo denies tuition hike, dismisses protest reports as false

The newly inaugurated board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) resumed on Tuesday, with a pledge to boost the capacity of the NUPRC in meeting its statutory mandate.

Speaking at the Commission headquarters shortly after inauguration, the Chairman of the NUPRC board, Senator Magnus Abe, assured management of improved productivity.

Abe said the purpose of the board is to provide better leadership and oversight.

The chairman also promised to ensure that the NUPRC gets a more befitting office to maximise staff productivity.

“I believe that of all the priorities we should have, getting a proper office accommodation should take priority over everything else,” he stated.

In her remarks, the Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, congratulated the new board members, adding that the Commission depends on them for direction in line with the Petroleum Industry Act.

Eyesan described the inauguration as coming at a most auspicious moment especially amid the current spike in oil and gas prices occasioned by the Middle East crisis.

“Today, the oil and gas industry is seeing volatility because of the war in the Middle East and the transition and its impact on the industry.

“Nigeria must position itself to respond appropriately to both the energy transition imperative and the disruptions in the Middle East. I believe the Commission is positioned for the shocks or eventuality that may arise,” she added.

The NUPRC chief executive also restated the commitment of the Commission’s management team to reforming the industry.

Speaking earlier at the inauguration, the Secretary to the Government of the Federation, Senator George Akume, said the event underscored the unwavering commitment of the Federal Government to strengthening governance in Nigeria’s petroleum sector.

He said as the apex governance body of the Commission, the board is expected to provide strategic oversight, policy direction, and institutional stability that will enhance investor confidence and promote sustainable development in the upstream sector.

“This development is firmly aligned with the Renewed Hope Agenda of Mr. President, which prioritises strong institutions, the rule of law, and integrity in public service,” Akume stated.

While congratulating them for their appointment, the SGF charged the board members to uphold the highest standards of corporate governance, ensure accountability and transparency, and work constructively with management and stakeholders while maintaining regulatory independence.

Members of the board inaugurated include: Senator Magnus Abe (Chairman), Mrs. Oritsemeyiwa Eyesan (commission chief executive), Engineer Sunday Babalola (non-executive commissioner), Engineer Paul Jezhi (non-executive commissioner), Bashari Indabawa (executive commissioner), Muhammed Sabo Lamido (executive commissioner), Mrs. Patience Oyekunle (permanent secretary, Ministry of Petroleum Resources), Engineer Mustapha Lamorde (Executive Director, HSEC, NMDPRA) and Mr. Dalhat Muhammad Kamal (Director, Ministry of Finance) while Ms. Olayemi Adeboyejo serves as Commission Secretary/Legal Adviser.

Abe Resumes As NUPRC Board Chairman, Pledges Improved Leadership is first published on The Whistler Newspaper

Former Presidential candidate of the New Nigerian Peoples Party, NNPP, Rabi’u Kwankwaso, has held a closed-door meeting with National Deputy Chairman of the Nigerian Democratic Congress, NDC, Muhammad Rabiu Sabo Bakin.

Bakin paid Kwankwaso a courtesy visit alongside the party’s National Publicity Secretary Ibrahim Ahmad Waya.

It was gathered that the duo met the former Kano State governor to persuade him to leave the African Democratic Congress, ADC, and join the NDC.

Bakin told Kwankwaso during the meeting that he should not remain in the ADC due to the leadership crisis plaguing the party.

According to him, the NDC is fully prepared to receive Kwankwaso along with his massive supporters and to grant them whatever positions they desire within the party.

2027: NDC officials beg Kwankwaso to join party, dump ADC

Former Labour Party governorship candidate in Lagos State, Gbadebo Rhodes-Vivour, has said 2027 is the time to end what he tagged “baba sope criminality” and elect a governor that is accountable.

Rhodes-Vivour insisted that only voters in the state should decide who to vote as their governor and not any individual.

He was reacting to reports that Governor Babajide Sanwo-Olu was directed to resign on health grounds.

The Lagos State government had dismissed the claims.

However, Rhodes-Vivour stressed that political power should not be concentrated in the hands of a few.

Posting on X, he wrote: “The APC, and particularly Mr President, are mistaken to believe they have stripped Lagosians of agency.

“That who becomes governor or when to remove the said governor is reduced to the feelings or hallucinations of one man and a gang of kleptocrats is insulting to many and must no longer be tolerated.

“Only the people of Lagos can and must determine those who will lead them.

“Only them also reserve the right to decide when they are fed up with who governs the state.

“In 2027 we must permanently end this babasọpe criminality and elect a governor that is accountable and beholden to the people of Lagos. It is time to restore #OurLagos in the interest of all Lagosians.”

2027: ‘End baba sope criminality, elect accountable gov’ – Gbadebo Rhodes-Vivour to Lagosians

Bashir Omolaja Bolarinwa has officially declared to run for the Kwara State governorship seat on the platform of the All Progressives Congress, APC.

Speaking at the formal declaration Bolarinwa said if elected, he would decisively tackle insecurity across the state while investing heavily in education, healthcare and skills development to unlock the potential of the people.

The declaration, which was witnessed by thousands of party members and Bolarinwa’s supporters from within and outside the state, comes against the backdrop of rising insecurity in parts of Kwara.

Bolarinwa said the safety of citizens would be non-negotiable under his leadership, adding: “We will decisively tackle and comprehensively address insecurity at all levels, ensuring the safety of lives and property across every part of the state.”

He noted that beyond security, his administration would focus on human capital development as a cornerstone for sustainable growth.

“We will invest in education, healthcare and skills acquisition, ensuring that our youths and women are empowered as drivers of growth and stability,” he said.

Bolarinwa said his decision to run was driven by a sense of duty and a desire to serve the people at a higher level.

“Today, I stand before you not just as a politician, but as a son of the soil who understands the struggles and aspirations of our people,” he said.

He described his political journey as one rooted in service, having served as a councillor, local government chairman, member of the National Assembly and later as Kwara State party chairman.

According to him, these experiences have prepared him for the task ahead.

“Our state stands at a critical point where we must deepen development, expand opportunities, and ensure that governance reflects fairness, inclusion and justice,” Bolarinwa said.

He promised to build an inclusive Kwara where no part feels marginalised and where economic opportunities are accessible to all.

“We will strengthen our economy through innovation, agriculture and enterprise development, while delivering people-centred governance driven by transparency and accountability,” he added.

Bolarinwa also called on party leaders, stakeholders and residents of the state to support his ambition, saying: “This is a collective mission, a movement for a better, stronger and more inclusive Kwara. I cannot do it alone.”

2027: Bolarinwa declares for governorship in Kwara

Crude oil prices surged above $111 per barrel on Tuesday following the United Arab Emirates, UAE, decision to exit the Organization of the Petroleum Exporting Countries, OPEC.

DAILY POST reports that UAE’s decision to exit OPEC was announced in a statement on Tuesday.

The UAE said the move, which takes effect from May 1, 2026, was based on the country’s national interest.

“This decision follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on our national interest and our commitment to contributing effectively to
meeting the market’s pressing needs,” UAE authorities said in a statement.

The UAE’s announcement has stirred uncertainty in the global crude oil market already grappling with nearly two months of war between Iran and the United States-Israel.

Checks by DAILY POST showed that crude oil prices surged by 3 percent to $99.68 and $111.40 per barrel for West Texas Intermediate and Brent crude, respectively.

Global oil prices surge above $111 per barrel as UAE announces exit from OPEC

The House of Representatives has urged the Nigerian Communications Commission (NCC) to extend the waiting period before inactive phone numbers are reassigned to new users to one year and six months.

The lawmakers said the move would strengthen compliance with the Data Protection Act, 2023, and protect Nigerians from fraud, identity theft, and wrongful criminal allegations linked to reassigned SIM cards.

The resolution followed the adoption of a motion sponsored by the member representing Orhionmwon/Uhunmwode Federal Constituency of Edo State, Billy Osawaru, during today’s plenary.

Osawaru proposed that the additional six months should allow for inactive SIM cards due for reallocation to be publicly announced in national newspapers and reported to the police once or twice annually.

“The House is aware the said guidelines mandate the network providers to deactivate and reallocate inactive SIM cards and phone numbers,” he said.

He noted that the measure would improve transparency and make it easier to resolve criminal or fraudulent cases arising from SIM card reassignment.

“The House is also aware, as claimed by network providers, that it is not financially sustainable or profitable for them to retain inactive SIM cards on their network despite being registered with the initial subscribers’ data.

“We are concerned that if not strictly guided and checked, reallocation of SIM cards or phone numbers to new subscribers could lead to data breaches,

“Identity theft and financial fraud, especially when the numbers are still linked to the previous owner’s sensitive information, such as Bank Verification Number and National Identity Number,” the lawmaker added.

Presently, the Nigerian Communications Commission guidelines mandate network providers in Nigeria to deactivate inactive SIM cards after 180 days (6 months) and permit reassignment to new subscribers after one year of dormancy, without notifying the former subscriber, as provided in their new Telecom Identity Risk Management Policy.

Reps ask NCC to extend period for reassignment of inactive phone numbers