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GTBank Releases 2020 Full Year Audited Results……..Reports PBT of ₦238.1 Billion

Guaranty Trust Bank plc has released its Audited Financial Results for the year ended December 31, 2020 to the Nigerian and London Stock Exchanges.

A review of the result shows improved performance across all key financial metrics in the face of the unprecedented challenges brought on by the COVID-19 pandemic, reflecting the quality of past decisions and reaffirming its position as one of the best managed financial institutions in Africa.
The Group reported Profit before tax of ₦238.1billion, representing a growth of 2.8% over ₦231.7billion recorded in the corresponding year ended December 2019. The Group’s Loan book (Net) grew by 10.7% from ₦1.502trillion recorded as at December 2019 to ₦1.663trillion in December 2020, while Customers’ deposits increased by 38.6% from ₦2.533trillion in December 2019 to ₦3.509trillion in December 2020.
Guaranty Trust Bank’s Balance sheet remained well structured, diversified and resilient with Total assets and Shareholders’ Funds closing at ₦4.945trillion and ₦814.4billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 21.9%, while Asset quality was sustained as NPL ratio and Cost of Risk (COR) closed at 6.4% (Bank: 5.9%) and 1.2% (Bank: 1.0%) in December 2020 from 6.5% (Bank: 6.2%) and 0.3% (Bank: 0.2%) in December 2019 respectively.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “2020 was arguably the most challenging year that the world has faced in decades. In such unprecedented times, we sought to live out the full extent of our values; safeguarding lives and livelihoods for our people, our customers and across the communities where we operate.
We were on solid footing going into 2020; the strength, scale and liquidity of our balance sheet, coupled with the quality of our past decisions and the efficacy of our digital-first customer-centric strategy gave us the resilience and flexibility to navigate the economic shocks and market volatility that dominated the year.”
He further stated that; “Amidst the many challenges that persist, we remain ardent believers in Africa’s growth potential. Our world is increasingly digital, and we see it opening new and exciting opportunities for empowering people and uplifting our communities. With our commitment to deepening customer relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned to lead this new world.”
Guaranty Trust Bank plc continues to post the best metrics in the Nigerian Banking industry in terms of all Financial Ratios i.e. Post-Tax Return on Equity (ROAE) of 26.8%, Post-Tax Return on Assets (ROAA) of 4.6%, Full Impact Capital Adequacy Ratio (CAR) of 21.9% and Cost to Income ratio of 38.2%.
Renowned for its forward-thinking approach to financial services and customer engagement, GTBank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa. The Bank was also awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.

Primate Ayodele Issues Strong Warnings To African Presidents

The leader of INRI Evangelical spiritual church, Primate Elijah Ayodele has issued strong warnings to some African presidents in a newly released prophecy.

He gave this prophecy during a live service in his church, while making it known that some selected presidents need to seriously seek the face of the lord concerning their health and administration.

He made it known that foresee them having trouble with their health, and if precautions are not taken, the unexpected may happen before the end of their terms.

‘These presidents should be watchful of their health; President Paul Biya Of Cameroon, Denis Sassou Nguesso Of Congo Brazzaville, President Yoweri Museveni Of Uganda President Alassane Dramane Ouattara Of Ivory Coast, President Patrice Talon Of Benin Republic.

I want them to be very watchful of their health, anything may happen, they must pray for good health and long life, they should pray against uprising. These presidents need to handle their health and take necessary precautions so there won’t be trouble as regards their health to avoid the unexpected from happening before the end of their term’’

He also revealed that another dangerous terrorist group will rise up in Africa which will call the attention of the African union to come and check the security state of the African borders.

‘The AU will come to check security in various borders because I foresee a new terrorist like Boko Haram in Africa. It will come from Burkina Faso, Niger, Benin Republic, Nigeria and Chad, these are the places they want to attack’

On Nigeria’s insecurity state, Primate Ayodele again slammed President Buhari, and asked him to be incharge of his government because He is already incapacitated.

He made it known that the President is tired, and that the service chiefs need to seek the face of the Lord to solve the crisis.

‘’President  Buhari must sit right so that this security thing will not cause APC problem in 2023, Nigerians will vote out APC if they don’t do what is right, this will also affect the election and bring out a third force.

Buhari must not give incompetent people government to run, He is not the one ruling, he knows nothing about what is going on in his government. He needs prayers because he is tired, and fed up. He doesn’t understand anymore, He doesn’t know those working with him. They are taking advantage of Buhari’s incapacity.

The service chiefs, DSS, NPF should seek the face of God, the insecurity will become worse, and it will affect the rich. They should come up with local security to also battled this insecurity.

We need to pray so we won’t see the death of any supreme court justice again. With the way insecurity is going, religious and ethnic crisis will come up’’

Furthermore, He released prophecies about other countries, Presidents, and political parties.

 

–          In Congo, there will be a lot of security trouble. Congo will have a political turmoil, there will be a gangup against the President coming back as the president, and it will be hijacked by opposition.

–          South African president will lose a prominent person in his cabinet, there will be crisis in his party, he must handle Covid-19 well

–          Ghanaian President will finish his term without any fear of death as long as he gets closer to God.

–          Africa still needs pray so they wont lose another president in the next one year.

–          PDP will be confused in order to get the right person for presidency 2023

–          People decamping to APC are those who will ruin them, they need to restrategize.

–          Malawi president must be careful of political tension, he will try his best, but there are people who will gang up against him.

–          I see unrest in Benin republic, the president will begin to fight opposition, he must pray for good health, and pray against Terminal illness. The president will not have rest, he will be troubled with misconduct, political tension, unnecessary killing and burning of houses.

 

Donny van de Beek targets Manchester United exit this summer

Donny van de Beek is looking to leave Manchester United at the end of the season, according to reports.

The Netherlands international was signed in a £40 million deal from Ajax last September but has struggled to make an impact since his arriving at Old Trafford.

Van de Beek has started just two games in the Premier League and only 11 matches across all competitions. According to the Daily Star, Van de Beek is concerned over his long-term future and is now looking to move on this summer.

The report also claims that his lack of playing time has harmed his chances of winning a place in the Netherlands squad for their European Championship campaign.

It’s claimed that Van de Beek will speak with United’s executive vice-chairman Ed Woodward before the season finishes to determine his next move and why he has been overlooked by Ole Gunnar Solskjaer.

The United manager had urged Van de Beek to be patient after he was given little playing time at the start of the season.

But the midfielder was used only sparingly across the winter period when United’s fixture schedule was heavily congested. ‘I wouldn’t say that Donny is happy,’ Solskjaer admitted in January.

‘Of course, he wants to play more, but he gets about his job in the right manner.

‘We are doing well and have got players who are playing really well in his position.’

Van de Beek has not featured for United since February 14 and is currently sidelined with a muscle injury.

 

Basketball Star Lebron James Invest £540m in Sport Group that Own Liverpool FC

Los Angeles Lakers star LeBron James is joining Fenway Sports Group as a partner, giving him an ownership stake in its subsidiaries that include the Boston Red Sox, Liverpool Football Club, Roush Fenway Racing and the regional sports network NESN, sources told ESPN.

James, 36, already owned 2% of Liverpool, the current English Premier League champion. In joining FSG and expanding his investment, James and his business partner Maverick Carter will become the company’s first Black partners.

FSG is among the largest sports ownership entities in the world, and James’ involvement will only increase its reach. In addition to James coming onboard, FSG received a $750 million investment from RedBird Capital Partners, according to The Boston Globe, which first reported James’ ownership stake.

With league rules preventing current players from owning portions of the NBA or WNBA, James, who has earned more than $1 billion in his career, according to Forbes, branched out with a conglomerate that started by owning the Red Sox. FSG’s broad footprint could expand even more with the infusion of cash from RedBird Capital.

FSG bought Liverpool in 2010 for $493 million — and James joined in the investment for a reported $6.5 million. FSG turned down a $2.6 billion bid for the team in August 2018, leaving James with tens of millions in profit from his initial investment.

The investment will also hand FSG a timely boost in the transfer market. With Jurgen Klopp’s side struggling to make the top-four this season, new signings look to be needed.

While Klopp has ruled out wholesale changes of his squad, speculation will now begin about who they might sign. Indeed, it was reported at the weekend that Klopp will prioritise three major signings this summer. Top of Klopp’s agenda are a new attacker to revitalise his ageing strikeforce. And while targets have not been named, several big names, including Kylian Mbappe, have been touted of late.

It will also come as no surprise to see Liverpool targeting defensive reinforcements given their issues this season. The Athletic claims Ozan Kabak is auditioning for a long-term role at Anfield. He signed on loan in January and the Reds do have an option to make the move permanent. However, RB Leipzig’s Ibrahima Konate, Marseille’s Duje Caleta-Car and David Carmo of Braga all remain alternatives.

Klopp will also likely need to sign a replacement for the departing Georginho Wijnaldum in midfield. The Dutchman has continued to be as reliable as ever in the Reds’ engine room, amid swirling uncertainty over whether he will be at the club next season. Wijnaldum’s contract expires at the end of the campaign and no concrete news over an extension has so far surfaced.

James, who has never hidden from his support for Liverpool, nor his wish to take on a greater role has also not been shy about his desire to own an NBA team. At the NBA All-Star Game in 2019, he told reporters that upon his retirement, “I believe if I wanted to, I could own a team or be part of a basketball team. I know I got so much knowledge of the game that I don’t want to, once I stop playing — I just [do not] want to get away from the game.”

In January, when the WNBA’s Atlanta Dream were put up for sale, James tweeted: “Think I’m gone put together an ownership group for The Dream.” He proceeded to help Renee Montgomery, the former WNBA player and activist, meet with commissioner Cathy Engelbert before she joined with two partners to complete the purchase.

With the Red Sox, James gets limited partnership in one of Major League Baseball’s jewel franchises. The team’s estimated value is more than $3 billion, and while it’s expected to lag behind in the competitive American League East division this season, Boston has significantly improved its farm system and should increase its payroll going into the 2022 season after paring back spending the past two years.

James’ connection to FSG goes deeper than his investment in Liverpool. Among the executive producers of the comedy “Survivor’s Remorse,” which aired for four seasons on Starz: James, Carter and Tom Werner, the longtime television producer and chairman of the Red Sox and Liverpool. Werner owns the second-largest stake in FSG behind principal owner John Henry.

James has long said he’s a fan of Boston’s historic rival, the New York Yankees, and publicly rooted for the Los Angeles Dodgers in last year’s World Series.

UBA to Support Businesses on Budgeting and Forecasting, Holds Workshop Today

As part of its continuous effort to catalyse the growth and sustainability of Small and Medium-Scale businesses in Nigeria and Africa, Pan Africa Financial Institution, United Bank for Africa, (UBA) Plc will be hosting its next Business Series on Wednesday, March 17th, 2021.

The UBA Business Series, which is held quarterly, is a capacity building initiative where professional business leaders share insights on best business practices and how entrepreneurs can build a sustainable business empire especially in a challenging business environment in Africa, aggravated by the COVID 19 pandemic.

In this edition, which will be held via Microsoft Teams, UBA will host the founder, Accounting Hub, Chioma Ifeanyi-Eze, a seasoned accountant with years of experience across multinationals including PWC.

Ifeanyi-Eze will be speaking on Budgeting and forecasting for Business Growth and will give tips to business owners and intending start-ups on practical ways to ensure their businesses survive and thrive and essential strategies on how to recover and mitigate losses especially in these difficult operating environments in Africa and beyond

The open event will be held virtually by 2pm WAT on Wednesday, March 17, 2021 and interested participants can register via this link: http://bit.ly/UBASMEWorkshopMarch2021

UBA’s Group Head, Consumer and Retail Banking, Sampson Aneke, who spoke ahead of the event, said that far beyond banking services, UBA is interested in ensuring that customers and entrepreneurs run businesses that can stand the test of time, adding that the Business Series, will assist to arm business leaders with all the knowledge and experience required to take their businesses to the next level.

He said, “Even in this period of the pandemic, it is interesting to note that some businesses are still making it big. How? you will ask, these are some of the questions we will address in our seminar on Wednesday.

“Chioma Ifeanyi Eze, who is experienced in every sense of the word is willing to share insight with others on ways to grow their business and put it on firm footing as we try to move beyond this pandemic. I will advise everyone to tune in, even if you do not have a business, it is an opportunity to learn something new,” Aneke said.

This novel initiative is a quarterly enterprise championed by UBA, and has been instrumental in helping to support and elevate businesses to new highs for many years now.

United Bank for Africa is a leading pan-African financial institution offering banking services to more than twenty million customers globally. With footprint in 20 African countries and presence globally in the United Kingdom, the USA and France, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary

FINAL CALL: APPLICATIONS TO THE TONY ELUMELU FOUNDATION ENTREPRENEURSHIP PROGRAMME CLOSES MARCH 31

open to all African entrepreneurs with business ideas from across all 54 African countries

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, will close applications for the Tony Elumelu Entrepreneurship Programme on its TEFConnect digital platform (www.tefconnect.com) on March 31. This year’s intervention prioritises the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities.

To address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, the Foundation’s Entrepreneurship Programme will empower over 3,500 young African entrepreneurs in collaboration with global partners.

The Tony Elumelu Foundation, which celebrated ten years of impact in 2020, is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme.  Successful applicants receive a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities.  The Programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.

According to the Director of Partnerships & Communications at the Tony Elumelu Foundation, Somachi Chris-Asoluka, “Africa’s growing, and active youth population must take advantage of this opportunity and apply for the programme before the 31st of March, as their full participation will create a pathway to economic prosperity. This year, we have the capacity to empower more African entrepreneurs than ever, further ensuring that they have adequate training, funding and mentorship to boost their performance. It is time for young African entrepreneurs to embrace this much-needed support system to enable thriving and sustainable economic activity. We believe we will continue to see exponential change in sectors across the continent.”

The Tony Elumelu Foundation’s $100million Entrepreneurship Programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its 7th year and has empowered to date, over 9,000 young African entrepreneurs from 54 African countries.

Prospective applicants should apply on the digital networking hub for African entrepreneurs, www.tefconnect.com.

FIRSTBANK PROMOTES CROSS BORDER PAYMENTS IN SUB SAHARA AFRICA WITH FIRST GLOBAL TRANSFER

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the launch of First Global Transfer (FGT) to promote international transfer of funds across its subsidiaries in sub-Saharan Africa. The Bank’s subsidiaries in Africa include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, FBNBank Senegal.

The First Global Transfer (FGT) initiative is specifically designed to ensure safe, timely and improved efficiency in the transfer of funds across the network of FirstBank subsidiaries in Africa. The FGT is not restricted to FirstBank and FBNBank Customers alone but it is also open to every individual resident in the country the funds transfer is originating from.

Intending users of the initiative are to visit any of the Bank’s branches in Nigeria or subsidiaries in Africa, which are: FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, or FBNBank Senegal to enjoy the service. For example, with First Global Transfer, individuals and customers in Sierra-Leone can walk into any FBNBank branch to send money to FirstBank customers in Nigeria as well as FBNBank customers in Gambia, Ghana, DR Congo, Senegal or Guinea.

Speaking on the initiative, Dr. Adesola Adeduntan, CEO, FirstBank said “today’s customer is influenced by the technological advancement shaping businesses across various industries and our First Global Transfer (FGT) initiative is one of those advancement created to impact every individual in our host community in Africa, whilst promoting the ease and swift transfer of money from one country to another for business or personal activities.”

“With the launch of African Continental Free Trade Area (AfCFTA) on 1 January 2021, the First Global Transfer (FGT) is indeed very timely as it will play an essential role in stimulating business activities across borders, thereby impacting the growth and development of the continent. I enjoin everyone to visit any one of our branches nearest to you in Nigeria or our subsidiaries in Africa and send money to your loved ones or business partners with FirstBank or FBNBank account(s),” he concluded.

COZA Pastor, Biodun Fatoyinbo Celebrates Mum @77

The founder of Common Wealth Of Zion Assembly COZA and Erukucity-born pastor Biodun Fatoyinbo has join family, friends and well-wishers across the globe to celebrate a woman of substance Mrs Comfort Fatoyinbo, whose simplicity and approach to life inspires innumerable people to greatness, as she turns 77 on Sunday 14th of March 2021.

In his congratulatory message to the quintessential, septuagenarian, philanthropist and woman of God’s heart Mrs Comfort Fatoyinbo as “a builder of dreams, a promoter of good course, and a compassionate aged-woman, always driven by what benefits humanity.”

He furthered that the auspicious birthday of our good Mummy worth celebrations for her humanitarian contributions to a better society.

He said “I’m proud to be one of your son also associate with you on this auspicious occasion of your birthday and acknowledge your excellent track records in motherhood and philanthropy.”

“On behalf of my family and my numerous followers, I congratulate a great woman that has touched a lot of lives positively and wishes you more years of prosperity and happiness.”

Chief of Army Staff, Attahiru, Visits Yobe, Addresses Lafiya Dole Troops

Chief of Army Staff, Lieutenant General Ibrahim Attahiru, on Sunday, March 14, inspected a guard of honour at the Sector 2 Headquarters of Operation Lafiya Dole during an official visit to Damaturu, Yobe State capital, North East Nigeria.

The Army Chief told the troops to be courageous in the discharge of their duties saying that the visit was intended to familiarize himself with how the officers are going about ending the war against insurgency throughout the theatre in the whole region.

He noted that he was also in Yobe to convey special greetings from Mr President and Commander-in-Chief, Muhammadu Buhari to the troops, stressing that the President has full knowledge of the efforts the officers are putting into the battle.

He said, “Being the Chief of Army Staff, I am aware of the challenges you are facing. I am making frantic efforts to see we overcome it so as to have and ensure you have the highest level of morale to be able to accomplish the task before you.”

Addressing Journalists shortly after, Attahiru revealed that he is touring theater headquarters as well as all the sectors of the operation Lafiya Dole in the country.

Audu Madaki Orders Full Investigation Into Mrs Aganya’s Murder

Benue Commissioner of Police Audu Madaki has ordered full scale investigation into the gruesome murder of Chief Mrs Eunice Aganya.

A statement signed by DSP Anene Sewuese Catherine, Police Public Relations Officer of the Benue Command and made available to NAOSRE, stated that on March 13 at about 9.30 am, information reached the Command that Chief Mrs Eunice Aganya, wife of Commissioner Ebezimako Aganya, ret’d, who resided at Austin Iwar Street, off David Mark Bye-Pass in Makurdi could not be seen by her co-chiefs who had planned to pay a courtesy call on a Royal Father in Makurdi.

The statement stated that Police detectives who received this report swiftly moved to her house where she resided alone behind her bakery.
At her residence, her car was seen parked in front of her gate and her fence broken into but her doors were locked.

According to the Police, the team noticed blood stains on the window of the deceased and curiously broke into the house where they found the lifeless body laying in a pool of blood with a deep cut on the head.

Following this sad development, Commissioner Madaki has ordered a full scale investigation to be carried out by detectives of the Command Criminal Investigation Department.

The Benue Commissioner has commiserated with Commissioner E. Aganya, ret’d as well as family members and vows not to leave any stone unturned apprehending the culprits.

Meanwhile, the Corpse has been deposited at Bishop Murray Medical Center Morgue while one suspect has been arrested in connection with the case.

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