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GTB Nets N48.46bn Profit

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14 years ago

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Guaranty Trust Bank Plc says it recorded an outstanding profit before tax of N48.46 billion, representing about 73% increase above its 2009 performance of N27.96 billion.

The Managing Director of the bank, Tayo Aderinokun made this known at the 21st Annual General meeting of the bank at Onikan Lagos, on April 21, 2011.

Aderinokun, who was excited over the bank’s progress in 2010 was optimistic that the bank would achieve its 2012 strategic goals despite the inherent uncertainties within its operational environments.

He, however, said that the bank loan book grew by 5% to N593.56 billion at the end of last year while its total assets and contingents stood at N1.58 trillion as at December 2010 representing 12.7% growth over the N1.40 trillion recorded in 2009.

The Managing Director said the year 2010 marked not just another turning point for the bank, but opened window for future generations to look on with pride, joy and gratitude.

He acknowledged truly that the bank has come of age, adding that since its licencing in 1990 the dynamics of Nigerian banking industries has been in constant flux, posing varying degrees of challenges for industry players.

He thanked corporate organisations and constituences for their contributions and support in the success story of the bank and urged them to sustain the cooperation.

According to him, the bank got numerous awards and accolades within the year under review, they include the 2010 best bank in Nigeria by an international magazine, the 2010 bank of the year – Nigeria, the most customer focused bank award by KPMG which it retain for the 3rd consecutive year.

Aderinokun, however, said the bank actively engaged in other social responsibility initiatives to surpass the social, environmental and development expectations of host communities.

The Managing director also spoke about the bank’s commitment to environmental and social sustainability in course of the year and pledged to ensure that the bank’s lending and other operations would comply with international performance standards.

He told the bank’s stakeholders that this year promises to be another excellent year for the financial institution and assured that the management was determined to re-create business model a new, re-invent ways of doing business and focus with laser-like precision on customers service.

He also expressed in-depth gratitude to the bank’s customers whose continues patronage has been instrumental to its success and solicited their continuous cooperation.

Jennifer Mere

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Kenyan Runners Dominate Berlin Marathons

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4 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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4 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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4 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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