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Shareholders Approve GT Bank’s N42.68bn Dividend

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10 years ago

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Roof of Apata Grammar School, Logudu, Bembo Area of Apata, damaged by rainstorm in Ibadan last Monday. Photo: NAN

Roof of Apata Grammar School, Logudu, Bembo Area of Apata, damaged by rainstorm in Ibadan last Monday. Photo: NAN

The shareholders of GT Bank have approved the final dividend of N42.68 billion declared by the bank for the financial year ended December 31, 2014.
The shareholders gave the approval at the bank’s 25th Annual General Meeting in Lagos, yesterday.
The Tide source reports that the dividend translated to N1.50 per share against the final dividend of N1.45 paid in 2013.
The bank had earlier paid an interim dividend of 25k, bringing the total dividend declared in 2014 to N1.75 or N50.03 billion against N1.70 or N45.62 billion paid in 2013.
Speaking at the meeting, Mr Boniface Okezie, the President, Progressive Shareholders Association of Nigeria (PSAN), commended the bank for the dividend declared in spite of the unfriendly environment.
Okezie also lauded the bank’s performance during the period in spite of the stringent regulatory environment, saying that the tempo should be maintained in the years ahead.
He said that the bank should continue to maintain high level of corporate governance in all its operations to avoid unnecessary penalties.
Also, Mr Nona Awoh, a shareholder, called on the bank’s management to work out the strategies aimed at reducing the bank’s unclaimed dividend figures.
Awoh said that the bank should reach out to the affected shareholders to reduce the unclaimed dividend which stood at N13.5 billion as at December 2014.
Mr Sunny Nwosu, the National Coordinator, Independent Shareholders Solidarity Association of Nigeria, commended the bank for the dividend it declared.
Nwosu said the bank should strengthen its investment strategies to improve shareholders’ returns.
Mr Segun Agbaje, the bank’s Managing Director, said that the bank would work very hard to reduce the unclaimed dividends profile.
Agbaje said that the bank would also continue to advertise to ensure reduction in the unclaimed dividend figures.
He urged the shareholders to embrace the e-dividend payment system introduced by the Securities and Exchange Commission.
Agbaje said that the bank would remain committed to efficient service delivery to ensure robust returns to all stakeholders in the years ahead.
NAN reports that the bank posted a profit after tax of N98.69 billion during the period under review against N90.02 billion posted in 2013.
The profit represented a growth of 10 per cent when compared with the figure for 2013.
Its profit before tax stood at N116.39 billion against N107.09 billion achieved in the comparative period of 2013, representing an increase of nine per cent.
The bank’s gross earnings stood at N278.52 billion against N242.67 billion achieved in 2013, representing a growth of 15 per cent.
The bank’s interest income grew by eight per cent to N200.60 billion compared with N185.38 posted in 2013.
Also, the net interest income rose to N142.36 billion from N136.94 billion recorded in 2013, representing a marginal increase of four per cent.

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NPA Assures On Staff Welfare 

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2 weeks ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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2 weeks ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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2 weeks ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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