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Tag: Guaranty Trust Bank

  • Fola Adeola, Ozekhome, ministers to lead dialogue at AIHS 2025

    Fola Adeola, Ozekhome, ministers to lead dialogue at AIHS 2025

    Founder of Guaranty Trust Bank and Chairman of FATE Foundation, Mr. Fola Adeola, renowned legal icon Dr. Mike Ozekhome (SAN), and ministers of housing and urban development from Nigeria, Ghana, Namibia, and Botswana are expected to attend the 19th edition of the Africa International Housing Show (AIHS).

    The event, scheduled to take place between July 27 and August 1, in Abuja, will host top-level engagements with public and private sector leaders across the continent, under the theme: “Reimagining housing through Innovation, collaboration, and policy.”

    Convener of AIHS and Executive Director of the Housing Development Advocacy Network (HDAN), Festus Adebayo, disclosed this during a press briefing in Abuja. According to him, the high-level participation reflects the growing importance of AIHS as Africa’s foremost marketplace for housing innovation, investment, and cross-border dialogue.

    Adeola, a celebrated banker, philanthropist, and policy strategist, will deliver the opening keynote address, drawing from decades of experience in economic development, institutional reform, and entrepreneurship.

    His leadership of FATE Foundation and MainOne Cable, and his pivotal role in Nigeria’s pension reforms, position him as a critical voice on housing finance and policy frameworks for inclusive urban development.

    Joining him will be Dr. Ozekhome, one of a foremost constitutional lawyers and public intellectuals, who will be a special guest of honour and deliver a goodwill message. His insights are expected to challenge current legal bottlenecks and offer actionable reforms for land administration and property law.

    In a historic first, AIHS 2025 will also host four serving African ministers of housing and urban development from Nigeria, Ghana, Namibia, and Botswana, who will share national strategies and regional collaboration opportunities in a Ministerial Dialogue.

    Read Also: Osinbajo, Osoba, Dangote, others pay last respects as Awujale is laid to rest

    Nigeria’s Minister of Housing and Urban Development, Ahmed Dangiwa, will serve as the chief host and is expected to unveil the country’s latest policy reforms and partnerships driving affordable housing.

    Other confirmed international ministers include Minister for Works, Housing, and Water Resources, Republic of Ghana, Honorable Kenneth Gilbert Adjei; Minister of Urban and Rural Development, Republic of Namibia, James Sankwasa; Minister of Water and Human Settlement, Republic of Botswana, Onneetse Ramogapi among others.

    Each will present their respective country’s progress, challenges, and investment opportunities in the housing sector, providing delegates with a rare opportunity to engage in cross-border learning and partnerships.

    According to Adebayo, this year’s edition is not just a show, it’s a “continental movement to bridge the housing deficit, deepen policy reforms, and promote local production of building materials.”

    AIHS 2025 will feature over 400 exhibitors, 50 speakers, and thousands of participants from more than 21 countries, including global real estate developers, investors, architects, policy makers, and housing finance institutions. Special segments will include: women in housing and construction forum; under-40 CEOs in real estate, youth, realtors, and proptech sessions and certified investment and policy workshops.

    The event is organized in partnership with the Federal Ministry of Housing and Urban Development, with major support from brands like Dangote Cement, Urban Shelter, MOFI, Nedcomoaks, Mshel Homes, Lafarge, Family Homes Funds, CDK Industries, and Sinoma.

    AIHS 2025 promises to be a turning point for housing development on the continent reimagining what is possible through innovation, collaboration, and policy.

  • Banks and their funny game

    Banks and their funny game

    What have I not seen in the hands of Guaranty Trust Bank, now known as GTCO in the past few days? I reported last week that the bank credited my account with N20000 out of the N30000 failed transaction for which I was debited on November 4. I did not write about another N100000 failed transaction which I had earlier reported to Sterling Bank as I was awaiting their finding.  Upon investigation, GTCO was again blamed for the problem.

    Read Also: APC leaders in Amuwo-Odofin, Oriade advocate unity for party growth

     Armed with a document from Sterling, I took up the issue with GTCO on November 28. The bank denied any wrongdoing, only for it to credit my account on the night of the same day to the tune of that amount. Meanwhile, it is saying nothing about my N10000 balance. I am writing this on December 4, a whole 31 days after the failed N30000 transaction. I am tired of writing about this week in, week out, but if it is what it takes to get my money bank, why not?

  • Bank, customer at loggerheads over failed transaction

    Bank, customer at loggerheads over failed transaction

    A row has broken out between a leading new generation bank and a customer over a failed transaction.

    The bank reportedly debited the customer’s account of N100,000 despite not paying the intended beneficiary the amount.

    The customer, Mr Dapo Aderinola, a former Editor at Daily Times, transferred the money last October 4 to the Access Bank account of his bereaved friend, but it ended up in the GTB account of another person.

    Following his complaint, Guaranty Trust Bank (GTB) acknowledged it as an “erroneous transfer” and promised to resolve the issue by October 10.

    It did not. Rather, it asked the customer for a court affidavit before reversing the transaction.

    Read Also; Oshiomhole’s reminiscences whet appetite

    Its October 19 message to Aderinola reads: “Sequel to your complaint of an “erroneous transfer” of N100,000 made on 04/10/2023, please note that we tried reaching the beneficiary on call to get her consent for a reversal, but her mobile phone seems to be turned off. We will keep trying.

    “We apologise for the inconveniences this may have caused you. Kindly send a court order/police report.”

    He was also asked to give an undertaking to indemnify the bank from liability in the failed transaction.

    Aderinola subsequently obtained a court order and on November 15, the bank reversed the transaction and credited his account with N100,000.

    “We wish to inform you that a credit transaction occurred on your account with us. REVERSAL OF ENTRY NGN100,000.00 CR Court Order RVSL- Wrong Transfer From Aderinola Oladapo…”, the message read.

    Aderinola said the process to get his money back was stressful, wondering why Nigerian banks treated their customers that way.

  • One killed, two injured in tricycle, waste truck collision in Ibadan

    A female student of the University of Ibadan, Balikis Adeniyi, died on Friday in an accident involving a commercial tricycle and a waste disposal truck at Leventis area of the Oyo State capital.

    The News Agency of Nigeria (NAN) reports that the accident occurred at about 9:30 am when the tricycle marked 152 UP ran into the waste disposal truck.

    NAN also reports that two other persons were critically injured.

    According to an eye witness, Omobola Bamgbose, the crash was due to over speeding by the tricycle driver.

    ”The lady was coming from Guaranty Trust Bank at Ajibade where she went to pay her school fees.

    ”Her bag and phone were recovered and this was what made it easy for us to get in touch with her parents.

    ”The two other victims who had fractures on their head and legs had been taken to the hospital for treatment,” said Bamgbose.

    Read Also: Tricycle union warns members

    Another eyewitness, Adelowotan Adelani, accused the driver of the waste disposal truck of wrong parking.

    “The tricycle route was from Orita Merin to Sango, this accident would not have occurred if the waste disposal truck was not packed beside the road side.

    “We are appealing to the present and the incoming government in Oyo State to stop these trucks from parking on the road.

    “The Oyo State Government should look for another way of evacuating refuse instead of using these trucks and people should also stop dumping refuse on the road side again,” he said.

    When contacted, the Oyo State Police Public Relation Officer, SP Olugbenga Fadeyi, confirmed the incident.

    He said that the corpse of the deceased had been deposited at the Adeoyo Hospital in Ibadan while the two injured persons were being treated in an undisclosed hospital.

    NAN

     

  • Mixed earnings: NSE indicators maintain negative outlook

    Activities on the Nigerian Stock Exchange (NSE), for the second consecutive day, maintained bearish trend, dropping further by 1.02 per cent due largely to mixed 2018 earnings reports.

    The market capitalisation on Tuesday, nosedive by N120 billion or 1.02 per cent to close at N11.677 trillion against N11.797 trillion on Monday.

    The All-Share Index maintained the same direction, dropping by 323.30 points or 1.02 per cent to close at 31,313.36 compared with 31,636.66 posted on Monday.

    The drop in market indices was contrary to expectations of some market analysts who were of the opinions that the market would rebound following relatively peaceful conduct of the general elections.

    Commenting, Mr. Ambrose Omordion, the Chief Operating Officer, Invest Data Ltd., told NAN that the lull was due to low liquidity in the system.

    Omordion said that the low liquidity was as a result of early exit of smart money in the market.

    He said that some smart investors whose expectations were dashed exited the market shortly after the presidential election.

    Omordion said that mixed numbers emanating from quoted companies for 2018 financial year contributed to the development.

    Meanwhile, Mobil recorded the highest loss during the day, declining by N5.10 to close at N165 per share.

    International Breweries trailed with a loss of N2.65 to close at N24.05, while Guaranty Trust Bank dropped by N1.80 to N35.50 per share.

    NASCON dipped N1 to close at N20.70, while Dangote Cement also depreciated by N1 to close at N194 per share.

    Lafarge Africa dominated the gainers’ table, gaining 50k to close at N13 per share.

    United Capital followed with a gain of 13k to close at N3.28, while UAC Property added 13k to close at N1.95 per share.

    Africa Prudential increased by 12k to close at N4.92, while Union Bank of Nigeria gained 10k to close at N7 per share.

    FBN Holdings was the most active in volume terms, exchanging 60.14 million shares worth N493.12 million.

    Zenith Bank followed with an account of 46.46 million shares valued at N1.05 billion, while Zenith Bankexchanged 14.47 million shares worth N35.32 million.

    Access Bank traded 11.45 million shares valued at N68.46 million, while United Bank for Africa sold 8.53 million shares worth N64.66 million.

    In all, a total of 219.37 million shares valued at N2.93 billion was traded by investors in 3,345 deals, representing an increase of 70.89 per cent.

    This was against 128.37 million shares worth N2.39 billion exchanged in 2,752 deals on Monday.

    NAN

  • Nigeria equity market rises by 0.14% in cautious trading

    The Nigerian Stock Exchange (NSE) market indices on Tuesday sustained growth, posting a marginal gain of 0.14 per cent in a cautious trading.

    Specifically, the All-Share Index rose by 43.72 points or 0.14 per cent to close at 32,173.66 against 32,129.94 achieved on Monday.

    Also, the market capitalisation which opened at N11.981 trillion increased by N17 billion to close at N11.998 trillion.

    Analysts at Cordros Capital said that investors should tread cautious due to sensitive political landscape.

    “Amidst the still sensitive political landscape, we still hold the view that the blend of compelling valuation story, together with positive macroeconomic picture, leaves scope for market recovery in the medium-to-long term.

    “However, we guide investors to tread a cautious trading path in the short term,” they said.

    A breakdown of the price movement table shows that NASCON recorded the highest price gain of 80k to lead the gainers’ table to close at N20 per share.

    Dangote Flour followed with a gain of 60k to close at N11, while Guaranty Trust Bank appreciated by 40k to close at N37.60 per share.

    Union Bank of Nigeria grew by 30k to close at N7, while Zenith Bank added 20k to close at N24.70 per share.

    Conversely, Dangote Cement topped the laggards’ table, shedding N1 to close at N196 per share.

    Read Also: NSE to launch new trading platform for mutual funds

    Redstar Express trailed with a loss of 50k to close at N5, while Caverton lost 15k to close at N2.30 per share.

    Custodian and Investment also declined by 15k to close at N5.90, while UACN went down by 15k to close at N8.10 per share.

    Also, the volume of shares traded improved by 75.45 per cent, while the value of shares transacted rose by 32.57 per cent.

    Consequently, investors bought and sold 400.87 million shares worth N3.46 billion traded in 3,885 deals.

    This was in contrast with a turnover of 228.48 million shares valued at N2.61 billion traded in 3,544 deals on Monday.

    Diamond Bank was the most active stock for the day, trading 119.79 million shares worth N299.33 million.

    FBN Holdings followed with an account of 44.39 million shares valued at N358.98 million, while United Bank for Africa sold 40.82 million shares worth N314.48 million.

    Guaranty Trust Bank traded 32.51 million shares valued at N1.22 billion, while Zenith Bank sold 24.40 million shares worth N604.99 million.

    NAN

  • Nestle, Unilever, Nigerian Breweries dominate bears on NSE

    Activities on the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday closed on a negative trend, with Nestle leading the laggards’ table.

    Nestle, one of the highly capitalised equity, topped the losers’ chart with a loss of N10 per share to close at N1,500 per share.

    Unilever trailed with a loss of N3.75 to close at N51.25, while Nigerian Breweries lost N2.90 to close at N111 per share.

    Forte Oil was down by N2.90 to close at N26.10, while Conoil dropped by N2.50 to close at N27.50 per share.

    Consequently, the All-Share Index which opened at 37,499.07 shed 106.05 points or 0.28 per cent to close at 37,605.12.

    Also, the market capitalisation lost N38 billion or 0.28 per cent to close at N13.584 trillion compared to N13.622 trillion recorded on Tuesday.

    On the other hand, Eterna Oil led the gainers’ table for the day, increasing by 50k to close at N7 per share.

    Guaranty Trust Bank followed with a gain of 40k to close at N40, while Zenith International Bank added 30k to close at N24.30 per share.

    Read Also: NSE indicators rebound by 0.17%

    FCMB Group advanced by 20k to close at N2.28, while Dangote Cement Industries also grew by 20k to close at N223 per share.

    However, the volume of shares traded rose by 96.49 per cent, while the value increased by 18.11 per cent.

    Specifically, investors bought and sold 505.74 million shares valued at N3.13 billion exchanged in 3,354 deals, as against 257.39 million shares worth N2.65 billion in 3,932 deals on Tuesday,

    Multiverse was the most active stock for the day, trading 200.04 million shares worth N40.01 million.

    NAHCO followed with an account of 125.09 million shares valued at N747.33 million, while Guaranty Trust Bank traded 28.42 million shares worth N1.13 billion.

    Access Bank sold 18.91 million shares worth N195.44 million, while FCMB Group exchanged 13.91 million shares valued at N30.83 million.

    NAN

  • Major oil stocks plummet on NSE

    Major oil stocks plummet on NSE

    Major oil stocks posted price depreciation on the Nigerian Stock Exchange ( NSE ) on Monday just as the market indices recorded marginal growth of 0.02 per cent.

    Seplat dipped N13.70 to close at N571.40 to lead the losers’ table.

    Total trailed with a loss of N11 to close at N217, while Mobil Oil shed N9.50 to close at N180.50 per share.

    Dangote Cement was down by N1 to close at N259, while United Bank for Africa declined by 45k to close at N12.50 per share.

    Conversely, International Breweries topped the gainers’ table, growing by N2.85 to close at N59.85 per share.

    PZ Industries followed with a gain of N1.15 to close at N24.15, while NASCON appreciated by N1.05 to close at N21.60

    Guaranty Trust Bank advanced by 75k to close at N49.35, while Redstar increased by 30k to close at N6.30 per share.

    Consequently, the All-Share Index rose marginally by 8.59 points or 0.02 per cent to close at 42,579.48 compared with 42,570.89 achieved on Friday.

    Similarly, the market capitalisation which opened at N15.277 trillion rose by three billion naira or 0.02 per cent to close at N15.280 trillion.

    Cement Company of Northern Nigeria was the most active stock, trading 134.89 million shares worth N2.25 billion.

    Transcorp followed with an account of 34.15 million shares valued at N71.04 million, while FBN Holdings traded 21.78 million shares worth N250.07 million.

    Access Bank sold 20.58 million shares valued at N 270.03 million, while Fidelity Bank exchanged 20.49 million shares worth N 61.30 million.

    In all, the volume of shares transacted closed higher as investors bought and sold 384.26 million shares valued at N5.47 billion achieved in 4,774 deals.

    This was in contrast with a turnover of 308.43 million shares worth N6.40 billion exchanged in 4,356 deals.

    NAN

  • Ambode directs payment of taxes, levies through banks from March 1

    Ambode directs payment of taxes, levies through banks from March 1

    Gov. Akinwunmi Ambode of Lagos State on Monday directed that all taxes and levies due to the state government should now be paid through the banks and online banking platforms from March 1.

    Ambode gave the directive shortly after paying his personal Land Use Charge at the Guaranty Trust Bank (GTB) in Opebi area of Ikeja.

    He said that this would reduce fraud and also encourage people to embrace the cashless policy.

    “In order to ensure that government improves on quality of service to the people, effective from March 1, no payment of taxes will be made by cash anymore across the state.

    “Tax payers should be able to pay every legitimate bill through all payment channels at their convenience.

    “The transaction process is going to be every day, anytime and no weekends and do not pay into wrong hands anymore,” Ambode said.

    He said that all the multi-layer platforms were to be deployed and used by all government ministeries, agencies, parastatals, associated companies and units henceforth.

    Read Also: Support Ambode’s Clean Lagos Initiative, Ajide urges Surulere people

    “All local governments must quickly adjust their collection machinery to eliminate all leakages,” he directed.

    The governor, who described the payment of taxes as an investment for the future, urged all residents to perform their civic responsibility, pledging that every kobo paid would be judiciously utilised.

    “I have just invested my quota by paying my land use charge and residents should join me by courageously making a decision for prosperity and pay all their due taxes.

    “Lagosians with your full support, there is evidence that every kobo paid in taxes has been productively utilised for infrastructural renewal and development of the state in last two and half years,” Ambode said.

    The News men reports that the governor was immediately presented a certificate of payment for the land use charge.

    NAN

     

  • GTB worker ‘steals’ N8.4m from customers’ accounts

    GTB worker ‘steals’ N8.4m from customers’ accounts

    A Guaranty Trust Bank (GTB) worker has been arraigned before an Igbosere Magistrates’ Court for allegedly stealing N8,449,000 from two customers’ accounts.

    Abidemi Wasiu, who works with GTB, Oshogbo branch in Osun State, was arraigned before Magistrate. O. O. Owunmi  on Wednesday.

    The Nation learnt that the defendant was arrested by officers from the Bar Beach Police Division, following a complaint from the bank’s headquarters on Victoria Island, Lagos.

    Prosecuting Sergeant Friday Mameh alleged that the defendant committed the offences between November and last month at the bank’s Lagos headquarters.

    Mameh said the defendant, without authority, unlawfully withdrew N4,000,000 from the account of Ogunmade Victoria and N4,449,000.00 from the account of Olalekan Abiola.

    Wasiu allegedly transferred the N8,449,000 to the accounts of his friends, Ojeleye Tawakalitu and Wisdom Marshal Njoku, from where he withdrew all the money and shared it with them.

    According to Mameh, the offences contravene Sections 411, 337(a) and 287(7) of the Criminal Laws of Lagos State of Nigeria, 2015.

    Wasiu pleaded not guilty.

    Magistrate Owunmi granted him N1million bail with two sureties in the like sum.

    Owunmi directed the sureties to deposit N200,000 each with the court’s registrar He adjourned till June 6.