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GCR upgrades MTN credit ratings

Published

5 years ago

June 30, 2021

Global Credit Ratings has upgraded the national scale long-term issuer rating of MTN Nigeria Communications Plc.

MTN Nigeria, in a statement on Tuesday by the Company Secretary, Uto Ukpanah, said, “In addition, GCR upgraded the national scale long-term rating of the recently concluded N110bn Series 1 Senior Unsecured Bond to AAA with a stable outlook.

“These represent the highest possible long-term and short-term ratings on GCR’s national rating scale, and MTN Nigeria is the first mobile network operator in Africa to be accorded such ratings by GCR.”

Commenting on the rating, the Chief Executive Officer, MTN Nigeria, Karl Toriola, said, “We are delighted with the outcome of the GCR rating.”

He added that it demonstrated the resilience of the business and positions MTN Nigeria as the benchmark of reference for the information and communications technology sector for long-dated and fixed-term instruments.

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ZENITH BANK APPOINTS ENGR. MUSTAFA BELLO AS CHAIRMAN AT ANNUAL GENERAL MEETING

Published

16 hours ago

May 6, 2026

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Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of

Directors.Theappointment,whichtakesimmediateeffect,hasbeenapprovedbytheCentralBankof

Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.

Engr.Bello’sappointmentrepresentsastrategicsteptoensurethecontinuity,stability,andsustained

effectivenessoftheBoard,whilereinforcingthehighstandardsofcorporategovernance,regulatory

compliance,andstrategicoversightforwhichZenithBankiswidelyrespected.HejoinedtheBoardof

Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board

Audit and Compliance Committee, Board Governance, Nomination and Renumeration Committee and as

Chairman of theBoard RiskManagementCommitteeuntilhisappointmentasChairmanof theBoardof

Directors.

He has extensive leadership experience at Board and executive levels, a strong understanding of corporate

governanceprinciplesandregulatoryexpectations,andaproventrackrecordinstrategicoversightand

organisationalgrowth.Hehasconsistentlydemonstratedintegrity,independenceandsoundjudgement,

qualities that distinguished him as the natural choice to lead the Board into its next chapter.

Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more

than four decades across the public and private sectors of the Nigerian economy. He served as Minister of

CommerceoftheFederalRepublicofNigeriafrom1999to2002underPresidentOlusegunObasanjo,

GCFR,whereheledthedevelopmentofNigeria’sWTO-consistentTradePolicy.Healsooversawthe

CorporateAffairsCommission(CAC)onlineprojectof2002,whichmodernisedthewaybusinesses

registerandoperateinthecountry.FromNovember2003toFebruary2014,heservedasExecutive

Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where

hewasinstrumentalinattractingforeigndirectinvestmentintoNigeria,buildingmultilateralandbilateral

partnerships, and representing the Federal Government at international conferences and missions.

HegraduatedfromAhmaduBelloUniversity(ABU),Zaria,in1978withaB.Engr.inCivilEngineering

(SecondClassUpperDivision),winningtheShellPrizeforthebestprojectandthesisintheFacultyof

Engineering.HebeganhiscareerwiththeNigerianArmy’sDirectorateofQuarteringandEngineering

Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer

from 1980 to 1983.

HeiscurrentlytheChairmanofInvest-in-NorthernNigeriaLimited,aspecialpurposevehicleforthe

economic and social transformation of the Northern Nigerian economy, and has previously served on the

boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina

WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of

Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as

well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).

Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations

acrossNigeria,theUnitedKingdom,theUnitedArabEmirates,Ghana,SierraLeone,TheGambiaand

Côte d’Ivoire.

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ZENITH BANK EXPANDS FOOTPRINT WITH CÔTE D’IVOIRE SUBSIDIARY LAUNCH

Published

1 week ago

April 29, 2026

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Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy.The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the diplomatic community, highlighting the strategic economic ties and investment opportunities between the two markets.The new subsidiary, licensed in December 2025 by the Ministry of Finance and Budget, Republic of Côte d’Ivoire, and regulated by the UMOA Banking Commission, will commence operations from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.The launch represents a strategic move to deepen the Bank’s presence in Francophone West Africa and strengthen financial intermediation within the West African Economic and Monetary Union (WAEMU). Positioned as a gateway for cross-border trade and investment, Zenith Bank Côte d’Ivoire will focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions tailored to businesses operating across Africa and internationally.Commenting on the launch, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, said: “From the very beginning, our Founder and Chairman, Jim Ovia CFR, set out to build a truly global brand with a strong presence across Africa and key international markets. The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision; opening a strategic corridor into Francophone West Africa and reinforcing our commitment to facilitating trade, investment, and enterprise growth across the continent. As we continue to expand thoughtfully and strategically, we remain focused on delivering world-class banking solutions that connect African businesses to global opportunities.”The new subsidiary will be headed by MD/CEO Mr. Cédric Tano, a seasoned banking executive with over two decades of experience. Speaking ahead of the official opening, he said “We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration. Our focus is to showcase the Zenith brand as a customer-centric institution that combines global best practices with deep local insight. We are well positioned to support businesses with innovative financing solutions, facilitate cross-border trade, and contribute meaningfully to the growth of the Ivorian economy and the wider WAEMU region.”The Côte d’Ivoire launch forms part of Zenith Bank’s broader continental growth strategy. In addition to the Anglophone countries where it currently operates, and in line with the expansion into the Francophone market, the Bank has commenced its entry process into the CEMAC (Central African Economic and Monetary Community) region, with Cameroon as the focal point. With a footprint already spanning Nigeria, Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China, Zenith Bank continues to bridge African markets with global opportunities, enabling seamless trade and financial connectivity across the continent and beyond.

Founded in 1990, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a consistent track record of strong financial performance. For 16 consecutive years, the Bank has held the record of highest Tier-1 capital in the Nigerian banking industry. Built on the foundation of People, Technology, and Service, Zenith Bank continues to deliver innovative financial solutions while maintaining a disciplined approach to growth and risk management. Its performance has earned it numerous local and international recognitions and endorsements.

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GTCO Food and Drink Festival 2026 Presents “Everything Food and Drink”

Published

2 weeks ago

April 23, 2026

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Guaranty Trust Holding Company Plc (GTCO Plc) is pleased to announce the 9th edition of the GTCO Food and Drink Festival, scheduled to hold from Friday, May 1st to Sunday, May 3rd, 2026, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.Geographic Reference

This year’s theme, “Everything Food and Drink,” captures the expansive nature of the Festival experience. It reflects not only the variety of cuisines on display but also the depth of stories behind them. Over the years, the GTCO Food and Drink Festival has grown far beyond a seasonal celebration to become a culturally significant platform where food and drink serve as a meeting point for storytelling, innovation, and opportunity. The Festival will feature 204 free retail stalls, showcasing the rich diversity and creativity of our food culture; from time-honoured traditional dishes preserved across generations, to bold contemporary interpretations of global cuisine, creating space for every flavour, every technique, and every craving to find expression.

Visitors can expect a rich programme featuring interactive masterclasses, live culinary demonstrations, food and wine tastings, and a vibrant marketplace showcasing small and medium-scale food businesses alongside established culinary brands. In addition to its wide range of food and drink offerings, the GTCO Food and Drink Festival is renowned for its family-friendly atmosphere, with a well-equipped play area and a variety of engaging activities for children, ensuring an unforgettable experience for the whole family.

Speaking ahead of the 2026 edition, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, emphasized the Festival’s continued evolution as both a cultural and economic enabler: “The GTCO Food and Drink Festival has, over the years, become a living expression of what we stand for as an institution: innovation, opportunity, and enterprise that is accessible to all. What makes this platform special is not just its scale, but its humanity. It brings together people from different walks of life around something universal—food and drink—and in doing so, it breaks barriers and builds connections that extend far beyond the event itself.”

Since inception, the GTCO Food and Drink Festival has positioned itself as one of Africa’s most prominent culinary gatherings, attracting participation from across Nigeria and increasingly from the wider continent and diaspora.

Admission remains free and open to all, reaffirming the Festival’s commitment to accessibility as a consumer-focused event that brings people together through food, drink, culture, and enterprise.
For more information on the event, please visit: https://foodanddrink.gtcoplc.com

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