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FG okays MTN’s N202.8bn tax for completion of Enugu-Onitsha Expressway
The Federal Executive Council (FEC) has endorsed the completion of the ongoing Enugu-Onitsha expressway by MTN Nigeria PLC, telecommunication company, at the cost of N202.8billion via the Tax Credit Scheme of the Federal Government.
Minister of Works and Housing, Babatunde Fashola, revealed this when he along with Minister of Police Affairs, Maigari Dingiyadi as well as the President’s media aide, Malam Garba Shehu, briefed the State House correspondents on the outcome of the Council meeting.
The meeting was presided over by President Muhammadu Buhari at the Council Chamber of the Presidential Villa Abuja on Wednesday.
Fashola said: ”Today, we have two more. So, the first that was approved today was the one by MTN Nigeria PLC, the telecommunication company to take over and complete the ongoing Enugu -Onitsha expressway.
”That road is a 110km, which is being dualized. So, you have 110km times two. The outstanding works aggregate to about 91 point something kilometres on both sides, if you accumulate it for those who use the road.
”You will see that the Enugu bound section has been largely completed but there’s a lot of work to be done on the Onitsha section.
”So this policy is going to allow a steady and sustained stream of funding to completion by MTN and the amount approved is N202,887,436,672,11 billion to complete the outstanding works of an aggregate of 91.9km on both sides.”
The minister also disclosed that the Council approved the reconstruction of Umuchi -Ususu-Umueme GZ Industries Road in Abia by a company known as GZ Industries, at the cost of N4.2billion through similar tax credit scheme.
He said: ”The second memo also was under the Tax Credit Scheme and while the first one was related to the road linking Anambra and Enugu states, this one is with respect to a road in Abia.
”Now the road is called Umuchi -Ususu-Umueme GZ Industries Road in Abia.
”The private sector beneficiary of the approval is a company called GZ Industries.
”GZ Industries manufactures aluminium cans for bottling drinks. They have a factory in Agbara in Ogun and they have another one in Abia in this area. So, it’s a link road to their factory.
”The approval was for N4.205,454,855billion. The road is a 3.7km road. So it’s an access road to their Industry. Council approved both memoranda.”
The Minister of Police Affairs, Maigari Dingyadi also disclosed that the Council approved N4.5billion for the procurement of utility vehicles for the Police Trust Fund.
According to him, the money approved will cover the cost of procuring the vehicles and that of insurance for the vehicles.
”I’m happy to announce that the Federal Executive Council has today approved the award of contract for the Nigeria Police Trust Fund for the supply of vehicles and insurance cover for several other vehicles at a total cost of N4, 541,829.17.
“The vehicles consist of land cruisers, Toyota Prado 2021 model and Toyota Camry. The land cruisers are about eight in number while the Prado are eight in number also, and then the Toyota Camry vehicles are about 44 in number.
“The Vehicles will be supplied at the cost of N1, 200,400,000.24 , The cost of fueling of the vehicles has also been approved at the total cost of about 5,093,770 litres at the cost of N1, 039,169,880 respectively.“
According to him, the affected vehicles are to be used for patrols and tactical operations to tackle security challenges across the country.
“The insurance cover is intended to cover all the vehicles purchased by the police Trust Fund between 2020 and 2022, involving about 450 vehicles, assorted vehicles for that matter, also at the cost of N812, 309,823.93.
”This is what has been approved for the police Trust Fund at the just concluded Federal Executive Council,” he said.
On his part, Shehu disclosed that the Council ratified the International Labour Organization’s convention 181.
According to him, the convention guarantees the rights and dignity of low cadre employees, who serve as house helps.
He said: ”The council ratified the International Labour Organization’s convention 181.
”Essentially, it seeks to permit the operations of private employment agencies in countries. If this is carried through, Nigeria will be the 3rd African Country after Ethiopia and Morocco to approve such.
“This is about the protection of the rights of persons employed by individuals as house helps with some of them being treated as slaves.
”Government is interested in their being treated with decency, respect and dignity,” he said.
Shehu also revealed that the Council approved a second memo for the adoption of the revised National Policy on labour migration.
According to the media aide, this also protects the rights of Nigerians employed in other countries as foreign employees serving in Nigeria.
He said: “The second memo by the Labour Ministry; which has been approved is for the adoption of the revised National Policy on labour migration and its action plan.
“This is also about the protection of the dignity of Nigerians and it is a two-way thing. Nigerian government is interested in protecting migrant workers who are here with us and our people who work out there.
”They shouldn’t be treated as slave or discriminated anyhow in so many respects.
“Certainly the policy seeks to confront the challenges of illegal migration and employment, exploitative tendencies, forced labour, smuggling and human trafficking in our society and entrenching general obligation to respect human rights of human beings.”
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BANKING ON HER TOMORROW: ZENITH BANK EMPOWERS 300 GIRLS WITH EDUCATION, KNOWLEDGE AND CONFIDENCE
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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.
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ZENITH BANK TO LAUNCH MAIDEN GIRL-CHILD EMPOWERMENT PROGRAMME
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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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