Guaranty Trust Holding Company Plc (GTCO) posted a profit before tax of N302.9 billion for the period ended March 31, 2026. The group disclosed this on Thursday in Lagos, in its unaudited consolidated and separate financial statements for the first quarter. Interest income and fee income rose by 17.5% and 7.1% year-on-year, reflecting sustained momentum in banking operations. The loan book grew by 1.3% to N3.17 trillion, supported by a 6.3% rise in deposits to N13.69 trillion. Total assets stood at N18.7 trillion, while shareholders’ funds closed at N3.6 trillion, underscoring a strong capital position. The Capital Adequacy Ratio remained…
Author: Newsdesk
The House of Representatives has directed 11 electricity distribution companies (DISCOs) to refund ₦55.42 billion obtained under the National Mass Metering Programme (NMMP). Lawmakers on Thursday adopted a committee report giving the DISCOs a seven-month deadline to repay the loan to the Central Bank of Nigeria (CBN). Presenting the report, Chairman Uchenna Okonkwo said the probe, following the committee’s mandate, found that the metering scheme failed to achieve its expected outcomes. Okonkwo explained that the programme, launched in 2020, aimed to close metering gaps, promote local manufacturing, curb losses, and end estimated billing practices. He listed beneficiaries as Abuja, Eko,…
The Delta Government has begun implementing the Federal Government’s N-774 Initiative to reduce child malnutrition in rural communities across the state. State Commissioner for Economic Planning, Mr. Sonny Ekedayen, disclosed this during a one-day high-level meeting on integrated multi-sectoral nutrition programmes on Thursday in Asaba. Launched in February 2025, the N-774 Initiative aims to extend nutrition programme benefits to grassroots communities in all 774 Local Government Areas of the country. The initiative adopts a bottom-up, multi-sectoral approach targeting children, with the goal of reducing child malnutrition by 50 per cent by 2030. The meeting, themed “Operationalising the N-774 Initiative and…
The Centre for Journalism Innovation and Development (CJID) has commended the House of Representatives for its efforts to amend the Cybercrime Act. Executive Director Akintunde Babatunde said in a statement on Thursday that the amendment would curb the misuse of the law to criminalise legitimate journalistic activities. He added that the reform would create a safer and freer environment for journalists, free from undue interference, harassment, or intimidation. “This marks the first major legislative effort to address longstanding complaints about controversial provisions used to suppress the press,” Babatunde said. He urged lawmakers to ensure a thorough review with clear intent…
The Gombe State Government has engaged media professionals and stakeholders to strengthen awareness on polio immunisation and boost vaccine uptake ahead of upcoming campaigns across communities in the state. The engagement, held on Thursday in Gombe, is part of preparations for the May round of Intensive Supplemental National Immunisation Plus Days (SNIPDs) campaign, targeting improved coverage and community participation statewide. The session with journalists and social media influencers was organised by the Gombe State Primary Health Care Development Agency (GSPHCDA) to enhance public communication strategies. The agency partnered with the National Primary Health Care Development Agency, World Health Organization, and…
The Governing Board of the Nigerian Shippers’ Council (NSC) has acknowledged a proposed $600 million expansion plan by APM Terminals Apapa, signaling investor confidence in Nigeria’s maritime sector and reform agenda. The acknowledgement came during a familiarisation visit by the NSC Board to the APM Terminals Apapa facility on Thursday in Lagos. The Chairman of the NSC Board, Dr Ibrahim Shema, said the council was committed to its statutory role as the nation’s port economic regulator and would continue promoting collaboration across the sector to enhance efficiency and competitiveness. He noted that strengthening partnerships between government and private operators remained…
The Lagos Business School (LBS) and Vanguard Pharmacy have highlighted gains from integrating healthcare delivery with retail convenience to improve service access in Nigeria. They said the model helps bridge gaps in primary care, especially in underserved communities, by bringing essential services closer to where people live and work. Prof. Louis Nzegwu disclosed this at a case study launch on Thursday in Lagos. The event’s theme was “Reimagining Community Healthcare in Nigeria’s Fragmented Market: The Vanguard Pharmacy Case Launch.” Nzegwu said the study examined the pharmacy chain’s evolution and challenges within Nigeria’s fragmented healthcare market, where access and affordability remain…
The Federal Government has approved the demolition and reconstruction of Carter Bridge in Lagos at a cost of N548.98 billion, following technical assessments that found the structure no longer salvageable. The Minister of Works, Mr Dave Umahi, disclosed this on Thursday after the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja. Umahi said the decision was based on multiple structural investigations conducted in 2013, 2019 and under the current administration, all of which concluded that the bridge had deteriorated beyond repair. “We convened a stakeholders’ engagement, and all the experts agreed the…
The Kaduna State Government says it is boosting infrastructure across various sectors through increased allocations following the removal of the fuel subsidy. The state Commissioner for Information, Malam Ahmed Maiyaki, stated this on Thursday in Kaduna. He spoke while addressing visiting journalists at the 35-km asphalt road linking Gadar Gayan through Gwaraji to Kujama Junction. It was reported that the road is the longest single road project in the history of Kaduna State. The project also includes a 130-metre bridge over the River Kaduna and spans Igabi, Kajuru and Chikun Local Government Areas. The road is part of a broader…
Lagos State Gov. Babajide Sanwo-Olu on Thursday unveiled the state’s Industrial Policy 2025–2030, outlining strategic reforms to reposition its industrial sector for sustainable growth and global competitiveness. Sanwo-Olu said at the event in Lagos that the policy was designed as a framework to reform, rebuild, and reposition the state for long-term growth. The governor was represented by the Secretary to the State Government, Mrs Abimbola Saliu-Hundeyin. The event was attended by members of the diplomatic corps, Lagos State Government officials, and private sector players. According to him, the policy reflects deliberate consultation, executive scrutiny, and professional input at the highest…