Uncategorized
GTCO Plc Releases 2024 Q1 Unaudited Results

….. Reports Profit Before Tax of ₦509.3billion
Guaranty Trust Holding Company Plc (GTCO or the Group) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group reported profit before tax of ₦509.3billion, representing an increase of 587.5% over ₦74.1billion recorded in the corresponding period ended March 2023. The Group’s loan book (net) increased by 21.9% from ₦2.48trillion recorded as at December 2023 to ₦3.02trillion in March 2024, while deposit liabilities increased by 26.0% from ₦7.55trillion in December 2023 to ₦9.51trillion in March 2024.
The Group’s balance sheet remained well structured, diversified, and resilient with total assets and shareholders’ funds closing at ₦13.0trillion and ₦2.0trillion, respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 24.9%, while asset quality was sustained as IFRS 9 stage 3 loans improved to 3.1% in March 2024 from 4.2% December 2023 and cost of risk (COR) closed at 0.4% from 4.5% in December 2023.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our first quarter results reflect the unfolding value of what we have created in all our business verticals through the Holding Company Structure – from Banking and Payments to Funds Management and Pension, we are positioned to compete effectively on all fronts and fulfil all our customers’ needs under a unified, thriving financial ecosystem. Despite the challenging operating environment, we delivered a solid performance, recording significant growth across all financial and non-financial metrics, and we remain on track to meeting our full year guidance.”
Mr. Agbaje further said: “Looking ahead, we will continue to focus on strengthening our relationships with our loyal customers, supporting not just individuals and businesses but also our communities through our well-attested free business platforms as well as innovative products and services. We are confident in our credentials to lead the future of financial services in Africa and will not relent in our commitment to excellence whilst delivering long-term value to all stakeholders.”
Overall, the Group continues to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios i.e., pre-tax return on equity (ROAE) of 117.0%, pre-tax return on assets (ROAA) of 18.0%, full impact capital adequacy ratio (CAR) of 24.9% and cost-to-income ratio (CIR) of 16.3%.
GTCO is a leading financial services group with banking operations in Nigeria, West Africa, East Africa, and the United Kingdom alongside non-banking verticals in HabariPay, Guaranty Trust Fund Managers, and Guaranty Trust Pension Managers. Its leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years. Recently, Guaranty Trust Bank was recognized as Nigeria’s Best Bank and Best Bank in CSR at the 2023 Euromoney Awards for Excellence, Best Banking Group in Nigeria by World Finance, and Best Bank in Nigeria by Global Finance. GTCO’s Guaranty Trust Bank is featured in the Top 1000 Banks in the World and Top 100 Banks in Africa rankings by The Banker.
politics
Update : Lagos Crisis: Details on how DSS interfered in legislative affairs in LSHA, says Hon. Ogundipe.

Our attention has been drawn to a publication by the Department of State Security (DSS) regarding a letter dated 14th February 2025,
“Enhanced Security Measures for LSHA,”
Earlier today, lawmakers and staff of the Lagos State House of Assembly arrived at the Assembly complex to find the offices of the Speaker, the Deputy Speaker, and the Acting Clerk of the House locked and access restricted by operatives of the DSS. Furthermore, the legislative chamber itself was sealed off.
In an apparent effort to justify their actions, the DSS released to the public a letter written by the Acting Clerk of the House, requesting security presence at the Assembly complex.
We wish to categorically state that this is not the first time the House has sought security support from the DSS.
However, it is important to emphasize that in all previous instances, DSS operatives have been stationed at the main gate of the Assembly complex, ensuring that unauthorized persons do not gain entry.
For the avoidance of doubt, at no point did the letter requesting security assistance instruct the DSS to:
– Invade the legislative chamber
– Lock and restrict access to the Speaker’s office
– Lock the office of the Acting Clerk
– Lock the Deputy Speaker’s office
The events of today raise serious concerns about undue interference in legislative affairs. The sanctity of the Lagos State House of Assembly was undermined by armed DSS operatives who actively obstructed lawmakers from performing their constitutional duties.
This act amounts to an infringement on the independence of the legislature and a direct assault on democratic governance.
We reiterate that the lawmakers of the Lagos State House of Assembly have taken a decisive and lawful step in the removal of the former Speaker, Mudashiru Ajayi Obasa. We stand firmly behind the leadership of the Rt. Hon. Speaker, Mojisola Lasbat Meranda, and remain resolute in our commitment to enacting laws that foster the development and progress of Lagos State.
We call on all relevant authorities to investigate this unwarranted restriction on legislative activities and ensure that such incidents do not recur.
*E-signed*
Hon. (Otunba) Ogundipe Stephen Olukayode
*Chairman, House Committee on Information, Strategy, and Security*
Uncategorized
Access Bank Lagos City Marathon 2025: A Tribute to Legacy, A Celebration of Resilience

Lagos gears up for the highly anticipated Access Bank Lagos City Marathon on Saturday, February 15, 2025, excitement and emotion run high. This year’s edition is much more than a race, it is a moving tribute to legacy and a celebration of resilience. Under the evocative theme “Miles to Memories,” every stride taken by the runners transforms physical distance into lasting recollections, blending athletic endurance with heartfelt remembrance of a visionary leader.A Race that Transcends the Finish LineSince its inaugural run in 2016, the Access Bank Lagos City Marathon has evolved from a local initiative into a global phenomenon. Originally established by Access Bank in collaboration with the Lagos State Government to promote healthier lifestyles, the event has grown into a symbol of unity, progress, and economic vitality for both Lagos and Nigeria. Today, the marathon not only places Lagos on the global sporting map but also showcases how major sporting events can drive tourism and stimulate business growth. As a Gold Label Marathon certified by the Association of International Marathons and Distance Races (AIMS), it stands as a testament to the powerful synergy between sport, community, and commerce.Local businesses, from hotels and restaurants to vendors and transport providers, thrive during the marathon weekend, benefiting from increased patronage as communities come together to support and celebrate the event. This collective participation reinforces the idea that when people unite around a common purpose, the rewards are shared by all.Honoring a Visionary: Remembering Herbert WigweThis year, the marathon carries added emotional significance. It marks the first anniversary of the passing of Herbert Wigwe, the late Group Chief Executive Officer of Access Holdings PLC, who was a transformative force behind the event. On the morning of February 10, 2024, a tragic helicopter crash claimed the lives of Herbert Wigwe, his wife, his son, and Abimbola Ogunbanjo, the former Group Chairman of the Nigerian Exchange Group PLC. The loss sent shockwaves throughout the nation, leaving an indelible void in the hearts of many Nigerians.Despite the deep sense of loss, Herbert Wigwe’s legacy continues to inspire. In the wake of the tragedy, concerns arose that Access Bank might reconsider its sponsorship of the marathon. Instead, in a poignant gesture of remembrance and commitment, Access Bank, together with the Lagos State Government, has reaffirmed its support for the marathon. This enduring dedication ensures that Wigwe’s dreams and aspirations remain an integral part of every step taken by the runners.
www.accessbankplc.com
“Miles to Memories”: A Journey of Emotion and EnduranceThe theme “Miles to Memories” perfectly encapsulates the spirit of this year’s marathon. It suggests that every mile covered is imbued with personal and collective memories, reminders of challenges overcome, of unity celebrated, and of hope nurtured for a better future. For many participants, the race is a chance to commemorate Herbert Wigwe, whose visionary leadership not only transformed Access Bank but also reshaped the sporting landscape of Lagos. His enduring commitment to community development, healthy living, and economic empowerment continues to serve as a beacon for all who aspire to make a positive impact.Each runner’s journey on the race day acts as a bridge between past and future, where the physical act of running becomes a metaphor for overcoming adversity and building a hopeful tomorrow. The event stands as a tribute not only to athletic excellence but also to the unyielding human spirit that continues to rise in the face of loss.From Humble Beginnings to Global ProminenceWhen Access Bank and the Lagos State Government first partnered in 2016 to host the marathon, their goal was simple: to encourage a healthier lifestyle among Lagosians. Under Herbert Wigwe’s visionary leadership, the event quickly grew in stature. Today, it has attracted over 600,000 registered athletes from 14 countries, establishing itself as one of Africa’s most prestigious road races. This remarkable evolution is a testament to the power of visionary leadership, community engagement, and a relentless pursuit of excellence.The marathon’s growth from a local initiative to a globally recognised event highlights how passion and determination can transform a modest idea into an internationally celebrated movement. Lagos has firmly established itself as a marathon city renowned for its energy, hospitality, and unwavering commitment to progress.Herbert Wigwe’s Vision: A Marathon for Unity & ProgressHerbert Wigwe’s influence on the Access Bank Lagos City Marathon remains as palpable today as ever. During the 2021 edition, he stated:“As one of the leading banks in Nigeria and indeed Africa, it is imperative for us to support the economic and social development of the communities in which we operate. Hence, we have sponsored the Access Bank Lagos City Marathon to make Lagos more attractive to tourists and investors alike. We have also used this platform to create jobs and opportunities for thousands in the state.”These words, imbued with hope and ambition, continue to guide the event. More than merely a race, the marathon has become a living legacy of Wigwe’s unwavering
www.accessbankplc.com commitment to community development and the transformative power of sport. His visionary approach has paved the way for countless initiatives that enrich lives, create employment opportunities, and foster pride and unity among Nigerians.Herbert Wigwe’s legacy is not confined to history, it lives on in the hearts of those he touched and in the strides of every runner who participates in the marathon. His vision for a healthier, more prosperous Lagos inspires all, ensuring that his contributions will never be forgotten. Every cheer from the crowd, every drop of sweat on the pavement, and every moment of reflection during the race stands as a tribute to a man dedicated to progress, unity, and excellence.The Access Bank Lagos City Marathon 2025 is more than a sporting event—it is a movement that transforms challenges into triumphs and distances into memories. It celebrates life, resilience, and the indomitable spirit of a community marching forward, one determined step at a time.Sponsors: The Pillars Behind the MarathonCentral to the success of the Access Bank Lagos City Marathon are its dedicated sponsors. Access Bank, the major sponsor, has remained steadfast in its commitment to community development, ensuring that the marathon continues to be a platform for positive change. In partnership with the Lagos State Government, the event has grown into a major contributor to the local economy and an enduring source of inspiration for athletes and citizens alike.Their unwavering support has been crucial in maintaining the high standards of the marathon, including its prestigious Gold Label status from AIMS. This commitment not only honours Herbert Wigwe’s legacy but also ensures that the marathon continues to inspire future generations to embrace a healthy, active lifestyle while cherishing the memories forged along the way.Community, Commerce, and the Spirit of ResilienceThe Access Bank Lagos City Marathon is a celebration of more than athletic prowess, it is a testament to the power of community and the resilience of Lagosians. The event has consistently demonstrated that when communities unite, remarkable achievements are possible. By boosting local tourism and generating business opportunities, the marathon has had a transformative impact on the city’s economy.During marathon weekend, local businesses such as hotels, restaurants, and retail outlets experience a surge in activity as visitors from around the globe flock to Lagos. At the same time, the event showcases the city’s vibrant culture on an international stage, reinforcing the idea that sport and commerce can work hand in hand to drive progress.
www.accessbankplc.com The Journey Ahead: Legacy, Resilience, and UnityAs runners prepare to take to the streets of Lagos on February 15, 2025, the atmosphere is charged with a profound sense of purpose. The marathon is not just a competition; it is a journey of remembrance and unity, where every stride honors the memory of Herbert Wigwe and every mile becomes a cherished memory. The theme “Miles to Memories” reminds participants that the race is as much about personal triumph as it is about collective resilience and hope.In the face of past tragedies and challenges, the marathon stands as a beacon of hope. It is a day when the nation comes together to celebrate life, honor legacy, and build a future founded on unity and progress. Each runner carries with them the spirit of determination and the memory of a leader who believed in the power of community and the strength of collective ambition.In celebrating “Miles to Memories,” the Access Bank Lagos City Marathon 2025 encapsulates the journey from loss to legacy, from grief to hope, and from memories to future milestones. With the steadfast support of sponsors like Access Bank and the Lagos State Government, this marathon not only delivers an exhilarating athletic challenge but also forges enduring memories that will inspire generations to come.As the starting gun fires and runners take their first steps on the vibrant streets of Lagos, they are not merely participating in
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BREAKING: Supreme Court dismisses Fubara’s appeal against Amaewhule-led Assembl, Ordering the Representation of 2024 Budget

A five-man panel of the Supreme Court, led by Justice Uwani Abba-Aji, has dismissed an appeal filed by Rivers Governor, Siminalayi Fubara, challenging the leadership of the Rivers House of Assembly under Speaker Martin Amaewhule.
Delivering the ruling, Justice Abba-Aji imposed a cost of ₦2 million against Governor Fubara, payable to the Rivers Assembly as the first respondent and Speaker Martin Amaewhule as the second respondent.
The court’s decision to dismiss the appeal followed the withdrawal of the suit by Fubara’s legal counsel, Yusuf Ali.
With this ruling, the leadership structure of the Rivers Assembly under Amaewhule remains intact.
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