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Emefele, Olugbemi, Akinwuntan Insist Banks Must Play a Critical Role to Restore Stability to Nigeria’s Economy
Banking stakeholders have in unison insiisted that banks must play a critical role to restore the Nigerian economy from the negative effects of COVID-19. Speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 13th Annual Bankers Conference in Abuja, the bank chiefs that included Godwin Emefiele, Governor Central Bank of Nigeria, Bayo Olugbemi, President/Chairman of Council, CIBN and Patrick Akinwuntan, Chairman of the Chartered Institute of Bankers (CIBN) Consultative Committee organizing the 13th Annual Bankers Conference and Managing Director Ecobank Nigeria noted that that it is imperative from an economic as well as a security perspective that banks work to support growth in sectors that have significant growth potential. These sectors they noted include Agriculture, Information Communication Technology and Infrastructure Finance amongst others.
In his presentation, the CBN Governor Godwin Emefiele said that our banking and financial system can enhance the resilience of the Nigerian economy, in the face of external shocks. According to Emefiele “we have witnessed the disruptions COVID-19 has had on global supply chains and food supply. If measures had not been taken earlier to improve cultivation and processing of staple crops in Nigeria prior to the onset of the pandemic, we would have had to deal with a major food crisis in the country. The banking sector therefore has a significant role to play as a facilitator of growth through its intermediation function”. He stated that “over the next 4 years, the banking sector should consider ways under which it could increase its loans to the agriculture sector from 4 percent to 10 percent by 2024”.
Further the apex bank Governor noted that “opportunities in the agriculture sector that banks should explore include addressing some of the existing gaps in the agriculture value chains, such as storage centers, transport logistics, and technology platforms, that can enable rural farmers to sell their produce directly to the markets. More importantly, he said the “agricultural sector also offers significant opportunity for the nation to earn foreign exchange through the exports of processed agricultural products. With declining foreign exchange earnings from crude oil, banks should consider supporting agro processing companies that are export oriented. These measures would help to improve productivity of farmers, increase our foreign exchange earnings, reduce post-harvest losses, while supporting the growth of other sectors of our economy such as manufacturing, and transportation”. He noted
According to Emefiele, another sector which has emerged as a significant source of resilience in mitigating the impact of Covid-19 on the economy, is Information and Communications Technology (ICT). He said in the “second quarter of 2020, the ICT sector made contributions of over 17.8 percent to GDP growth, 20 percent higher than its contributions a year earlier. It is important that we leverage ICT as an enabler for growth in key sectors of the economy”. He said “ICT start-ups are emerging to support SMEs, farmers, and in providing quality learning to students affected by the shutdown in schools. It is important that the banking sector consider viable IT firms in these areas that have the potential to not only serve the needs of the local market but are also able to export ICT related services to countries across the world”.
In his address, Bayo Olugbemi, President/Chairman of Council, CIBN, noted that “given the recent disruption caused by the impacts of the Covid-19 Pandemic, the role of banks have become more important now than ever before. According to him this year’s edition of the Conference aims to uncover and articulate the roles of the banking and finance sector in achieving a sustainable future for the country. He said the conference gives everyone the opportunity for an assessment of inclusive banking and the way forward, articulation of the risks of facilitating a sustainable future and positioning of banks in tackling risks, discussion on how Fintech is shaping the future through innovation and disruption, discussion on Green Banking and Economic Growth and the Impact of Finance on Emerging Sectors, spotlighting MSMEs, Manufacturing, Creativity and Agriculture Industry amongst others.
For Patrick Akinwuntan Nigeria need to move to the level of wealth creation, not just talking of poverty aliviation because we have the human capital and natural resources. We must therefore levarage technology, levarage access to fianance to be able to sopport the developing economy. He noted that the banks needs to support those who needs to grow their businesses, support those who need to invest in productive capacity. This according to him are some of the purpose of the 2020 annual conference, a message the institute is bringing to Nigeria. Further the Ecobank Nigeria Managing Director, reiterated that banks are unleashing digital platform to take financial services to the underbanked. He said the banks are determined to place Nigeria at the forefront of economic development in Africa.
The 2020 Annual Bankers conference themed; “Facilitating a Sustainable Future: The Role of Banking and Finance” has prominent bankers; major economic players; captains of industry; regulators; policy makers; members of the academic community and other stakeholders in the banking and finance industry in attendance.
The CIBN had adopted a hybrid approach for the two day event taking place simultaneously, at the Transcorp Hilton Hotel, Abuja and the Bankers’ House, Adeola Hopewell Street, Lagos and through Zoom teleconferencing. I n line with the theme, participants are evaluating the role of the Banking and Finance Industry in engendering an inclusive sustainable growth as well as offering a direction on how to reposition the Industry for relevance in the new world order, by leveraging on digitalization to boost Nigeria’s economy.
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BANKING ON HER TOMORROW: ZENITH BANK EMPOWERS 300 GIRLS WITH EDUCATION, KNOWLEDGE AND CONFIDENCE
Zenith Bank Plc has launched the maiden edition of its Girl-Child Empowerment Programme, themed “Banking on Her Tomorrow,” bringing together 300 schoolgirls aged 13 to 17 from selected schools across Lagos for a day of learning, mentorship and personal development.
Held on Monday, October 12, 2026, at the Civic Centre, Victoria Island, Lagos, the programme featured sessions on finance and investment, etiquette and personal development, social media ethics, and social relationships and interactions, equipping participants with practical knowledge and skills for their personal, educational and future career journeys.
The initiative, a brainchild of the Bank’s Group Managing Director/Chief Executive Officer, Dame (Dr.) Adaora Umeoji, OON, reflects Zenith Bank’s commitment to nurturing the potential of young girls and helping them make informed choices about their futures.
In her welcome address, Dame (Dr.) Umeoji urged the participants to believe in their abilities, pursue their ambitions and remain focused and disciplined. Drawing on examples of young girls who have achieved remarkable feats, she challenged them to look beyond their present circumstances and envision the women they aspire to become.
“To all my amazing young ladies here today, each of you possesses gifts, talents, and ideas that are capable of revolutionising the world. You can revolutionise the world with your ideas,” she said.
The GMD/CEO further encouraged the girls to explore their interests and resist societal limitations, stressing the importance of taking ownership of their futures.
“Never allow gender or age to limit your goals. Whatever interests you today, explore it. Whatever you choose to pursue in life, give it your best shot,” she said.
Delivering the keynote address, Her Majesty, Olori Atuwatse III, Queen Consort of the Warri Kingdom, encouraged the girls to embrace their identities, develop resilience and use their abilities to make a positive difference in the lives of others.
Using the mangrove tree as a metaphor for resilience, she reminded the participants that challenges need not define their futures and that their worth extends beyond academic results and external expectations.
“Every time you affirm the truth about who you are, you are building confidence. Every time the tide of life goes out and you are still standing, you are building resilience. And every time you use your gifts for another person, you are discovering your purpose,” Olori Atuwatse III said.
The programme featured interactive sessions led by accomplished professionals and personalities:
Ayanime Edem, founder of The Elite Finishing School and modern etiquette educator, discussed confidence, communication, self-presentation and etiquette.
Nigerian actress and content creator Bukunmi Adeaga Ilori, popularly known as Kie Kie, addressed responsible social media use, authenticity and digital boundaries.
Representing Zenith Bank, Thelma Okonye and Adesola Adeyemo introduced the girls to saving, responsible money management and investment, highlighting the importance of developing sound financial habits early.
While Nigerian filmmaker, creative executive and educator,Praise Onyeagwalam, Director Pink, led a session on healthy relationships, self-awareness and effective communication.
The sessions encouraged active participation, giving the girls opportunities to ask questions and engage with the speakers on issues relevant to their experiences and aspirations.
The programme also featured competitions, with cash prizes totalling over ₦1 million awarded to winners. The participants received books to encourage reading and personal growth, while musical performances by Nigerian singers Qing Madi and No. 11 added to the lively atmosphere. The event was hosted by Temi Badru, public speaker, communications coach and lawyer, with Darasimi Destiny Nadi serving as mini host.
Delivering the closing remarks, Executive Director, Zenith Bank Plc, Dr. Mrs. Adobi Nwapa, highlighted the GMD/CEO’s vision for the initiative and the Bank’s commitment to sustaining its impact.
“The programme is the vision of our GMD/CEO, who conceived and championed it, demonstrating her unwavering commitment to the empowerment of the girl child. Through her leadership, she has shown the girls what is possible when a woman dares to lead. At Zenith Bank, our commitment to the girl child extends beyond today, and we will continue to nurture their aspirations through this annual initiative,” she said.
Dr. Nwapa thanked the speakers and participants for contributing to the programme’s success and encouraged the girls to apply the lessons learnt, remain confident and pursue their aspirations with determination.
The initiative builds on Zenith Bank’s longstanding commitment to advancing opportunities for women and girls through programmes including its annual International Women’s Day Seminar, the Zenith Women’s Basketball League, the Women of Honour Awards in partnership with the Ford Foundation, the Pad-a-Queen Initiative and Z-Woman, which supports women-owned businesses through business support and access to credit at discounted rates.
Through “Banking on Her Tomorrow,” Zenith Bank is extending this commitment to a younger generation, equipping girls with the knowledge, skills and confidence to pursue their ambitions and contribute meaningfully to their communities and society.
Zenith Bank Plc is set to launch the maiden edition of its Girl-Child Empowerment Programme, an initiative aimed at inspiring young girls to dream boldly, develop the skills and confidence to pursue their aspirations, and prepare for meaningful opportunities in the future.
The event, themed “Banking On Her Tomorrow,” is the brainchild of the Bank’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, the first female GMD/CEO in Zenith Bank’s history and a strong advocate for girl-child education and empowerment. The event will be held virtually on Monday, October 12, 2026, at 11:00 a.m., a day after the International Day of the Girl Child, observed globally on October 11.
The programme, which will feature an impressive lineup of distinguished experts in various fields, seeks to provide girls with the inspiration, knowledge and practical perspectives needed to navigate their education and careers, while exposing them to opportunities in skills development, mentorship and leadership. As an annual platform, it will encourage girls to recognise their potential, broaden their aspirations and equip themselves to make informed choices about their future.
The initiative builds on Zenith Bank’s longstanding commitment to women and girls, demonstrated through programmes and platforms including the Bank’s annual International Women’s Day Seminar, its sole sponsorship of the Zenith Women’s Basketball League, the Women of Honour Awards in partnership with the Ford Foundation, and the Pad-a-Queen Initiative. These complement the Bank’s women-focused financial solutions, including the Z-Woman initiative, an empowerment programme that supports women-owned and women-led businesses through specialised funding, capacity building and networking. Together, these initiatives reflect the Bank’s broader commitment to supporting women and girls at different stages of their lives, and to contributing meaningfully to national development.
This maiden edition is open to all, with girls, parents, educators and other members of the public invited to participate. Interested participants can register via the link below. Those unable to join via Zoom can follow the live stream on Zenith Bank’s social media platforms.
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GTCO Plc Releases 2026 Half Year Audited Results …….. Reports Profit Before Tax of ₦603.03billion,Pays Interim Dividend of ₦1
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group posted a profit before tax of ₦603.03 billion, driven by strong performance recorded on the interest and trading income lines, which grew y-o-y by 7.5% and 24.7%, respectively. The strong earningsrecorded was moderated by a ₦46.2 billion fair value loss recognized in H1–2026, limiting y-o-y growth in PBT to 0.4%.
The Group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified. This growth was recorded in each jurisdiction where we operate a banking franchise, and across our Payments, Pension and Funds Management businesses.”
Group’s Total assets and shareholders’ funds closed at ₦18.6trillion and ₦3.3trillion, respectively. Capital Adequacy Ratio (CAR) remained very strong, closing at 34.9% (Bank 29.2%), and asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5% and 4.6% % at both Bank and Group Level in H1-2026 (Bank -3.4%, Group 5.0% in FY-2025). Cost of Risk (COR) improved to 0.6% from 2.2% during the same period.
The Group’s Loan book (net) grew marginally by 0.5% from ₦3.13trillion as of December 2025 to ₦3.15trillion in June 2026, converse for improved performance on Deposit liabilities which grew by 10.3% from ₦12.87trillion to ₦14.19trillion during the same period.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; “Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”
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., Pre-Tax Return on Equity (ROAE) of 35.9%, Pre-Tax Return on Assets (ROAA) of 6.6%, Capital Adequacy Ratio (CAR) of 34.9% (Bank: 29.2%) and Cost to Income ratio of 31.5%.
GTCO 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. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets
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