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Ecobank Group announces the upcoming retirement of Patrick Akinwuntan as Regional Executive and Managing Director, Ecobank Nigeria

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Ecobank Group, the leading pan-African banking group, announce the upcoming retirement of Patrick Akinwuntan, Regional Executive and Managing Director, Ecobank Nigeria. Patrick Akinwuntan will retire in January 2022, upon reaching the retirement age.  Patrick Akinwuntan started his career with Ecobank in 1996. He has held various senior and executive management positions in the over 25 years he has spent with the Ecobank Group, during which he has been based in Ghana, Togo and Nigeria. Before his appointment as Regional Executive and Managing Director, Ecobank Nigeria, Patrick was the Group Executive, Consumer Banking, where he was responsible for leading the Consumer Banking business across Ecobank’s global network of 39 countries, 35 of which are in Africa. He managed the Group’s digital transformation journey and has been instrumental in the development of the world class digital products and services that Ecobank provides today. Patrick is a seasoned banker who also previously was on the Board of ETI as a Group Executive Director and held the positions of Group Chief Finance Officer of ETI, Group Executive Director Domestic Bank, Operations, Technology, Transaction and Retail Bank, including Executive Director, Retail Bank at Ecobank Nigeria among others. He was the pioneer Managing Director of eProcess S.A, the Ecobank Group’s technology service company, where he ensured the connectivity of all the Group’s operations across its vast footprint. Patrick was appointed Managing Director of Ecobank Nigeria in July 2018 where he has been rebuilding and repositioning Ecobank Nigeria for growth in the Nigerian market. The business in Nigeria is on the path to regaining its respect and transformation. Under Patrick’s leadership, Ecobank has won several global, regional and national awards.  A Fellow of the Institute of Chartered Accountants of Nigeria (FCA), Patrick also holds a Master of Business Administration from the Obafemi Awolowo University, Ile Ife. He is an alumnus of the senior executive program (SEP) of the Harvard Business school, an honorary Fellow of the Chartered Institute of Bankers of Nigeria (FCIB), Fellow of the Institute of Credit Administrators of Nigeria (FICA) and an Associate of the Chartered Institute of Taxation of Nigeria (ACTI).   Commenting on Patrick Akinwuntan’s retirement, Ade Ayeyemi, CEO, Ecobank Group, said: “We warmly congratulate Patrick as he prepares to retire having given over 25 years of solid contributions to Ecobank. I extend my immense gratitude to Patrick for his long, illustrious and successful career that is now culminating in a well-deserved retirement. His contributions to the Ecobank Group have been invaluable. On behalf of the entire Ecobank Group, I thank him for his years of commitment to the pan-African ideals of Ecobank, his loyalty and hard work in the various positions he has held, most recently as Managing Director of Ecobank Nigeria, where he has repositioned the franchise for growth. Patrick is leaving an indelible mark and will continue to be a cherished member of the Ecobank family.”  The Chairman of Ecobank Nigeria, Mrs. Bola Adesola said: “I congratulate Patrick for his dedicated service to the Ecobank Group as a whole and the significant work that he has done in repositioning Ecobank Nigeria. On behalf of the Board of Ecobank Nigeria, I wish him a long and happy retirement.”     Patrick Akinwuntan said: “It has been a rare privilege to have had the honour of serving for over a quarter of a century at Africa’s most exciting and unrivalled Pan-African Banking Champion, Ecobank. I am exceedingly thankful to God, my family, friends, all Ecobankers, our founders, shareholders, regulators and all our customers and stakeholders for the support and help that they have given on this journey.” In line with Ecobank’s leadership and business continuity procedures, Patrick Akinwuntan will continue to manage Ecobank Nigeria and will ensure a smooth handover and transition to his successor.  

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

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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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Fidelity Bank Partners Aircraft Finance Germany to Grow African Aviation Industry

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Leading financial institution, Fidelity Bank Plc, has announced the signing of a strategic partnership agreement with Aircraft Finance Germany (AFG) to advance the aviation sector in Nigeria and across Africa by both organisations.

The agreement was formally executed by Mr. Christian Hatje, Managing Director, Business Aviation and SVP Commercial, representing AFG; and Mr. Stanley Amuchie, Executive Director and Chief Operations and Information Officer of Fidelity Bank Plc at a signing ceremony in Germany recently.

Speaking at the signing ceremony, Mr. Christian Hatje stated, “This partnership marks a significant milestone in our commitment to Africa’s aviation future. Partnering with Fidelity Bank, Nigeria’s leading aviation financier, we are confident in our ability to structure solutions that will drive meaningful growth across the sector.”

Through this partnership, both institutions will work closely to identify, finance, and grow aviation opportunities across the continent. The collaboration aims to provide innovative leasing and financing solutions that support airlines, aviation operators, and related stakeholders in expanding capacity, modernizing fleets, and strengthening operational and fleet efficiency.

“Fidelity Bank remains dedicated to supporting the aviation industry through tailored financial solutions. Our collaboration with AFG strengthens our capacity to provide sustainable financing that will contribute to the expansion of aviation in Nigeria and across Africa,” explained Mr. Stanley Amuchie.

This partnership reflects a shared vision to foster long-term development, stimulate investment, and create sustainable opportunities within the African aviation industry.

Nigeria remains a strategic hub for aviation development in Africa. By combining AFG’s leasing expertise with Fidelity Bank’s deep sector knowledge and financial strength, the partnership is positioned to unlock new growth pathways and enhance the sustainability of the aviation ecosystem.

This collaboration in Africa forms part of AFG’s broader global portfolio expansion strategy, reflecting the company’s continued commitment to structured aviation investments across multiple international markets.

Fidelity Bank is regarded as a market-leader in the Nigerian aviation industry with a long list of interventions across the value chain. Its aviation finance solutions support aircraft acquisition and leasing, route expansion, aviation infrastructure development, cargo and export enablement; and partnership structures for large projects.

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GTCO Plc Releases 2025 Full Year Audited Result …Declares Another Record Dividend of 12.76k;

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Re-affirming Unrivalled Capacity to Creating Value₦ Lagos, London – 31st March 2026Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).The Group reported profit before tax of 1.23trillion underpinned by strong growth in core earnings, with interest₦ income and fee income increasing y-o-y by 23.2% and 25.9%, respectively. The performance reaffirms its capacity to generate sustainable earnings and builds on the momentum from 2024, when GTCO delivered a record profit of 1.27trillion, driven in part by 517.5billion in fair value gains, which did not recur in 2025.₦ ₦The Group’s 2025 profit after tax came in at 865.75billion against 1.02trillion recorded in 2024. The profit after tax₦ ₦ reflects the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments. However, when normalised for this effect, underlying earnings remain robust, driven by growth in core operating income. The Group continues to maintain a well-structured, healthy, and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals. Total assets and shareholders’ funds closed at 1₦ 7.8trillion and 3.₦ 4trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 43.8%, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.4% and 5.0% at Bank and Group level in FY-2025 (Bank, 3.5%, and Group, 5.2% in December 2024). Cost of Risk (COR) also improved to 2.2% from 4.9% in December 2024. In specific terms, the Group’s loan book (net) grew by 12.4% from 2.79trillion as of December 2024 to₦ 3.13trillion in December 2025. Similarly, deposit liabilities grew by 23.8% from 10.40trillion to 12.87trillion during₦ ₦ ₦ the same period.Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses. The strength of our underlying earnings, despite a stronger Naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns. Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential. Looking ahead, we remain focused on scaling our ecosystem, driving innovation across our financial services platform, and delivering consistent, high-quality earnings that support superior value creation for our shareholders.”Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Post-Tax Return on Equity (ROAE) of 28.3%, Post-Tax Return on Assets (ROAA) of 5.3%, Capital Adequacy Ratio (CAR) of 43.8% and Cost to Income Ratio of 27.9%.Guaranty Trust Holding Company Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. GTCO Plc is committed to delivering long-term value to stakeholders while driving growth and development across its markets.

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