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FIRSTBANK CONVENES NIGERIA ECONOMIC OUTLOOK WEBINAR FOR 2022, SETS THE TONE FOR DELIBERATIONS ON CONTINUED ECONOMIC RECOVERY AND BUSINESS IMPACT

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its “Nigerian Economic Outlook Webinar” convened to reflect national and global economic trends that shaped 2021, whilst forecasting the economic outlook of 2022.   

The virtual event themed “A rearview look at 2021, lessons learnt-Outlook 2022” is scheduled by 1 pm on Thursday, 13th January 2022 via Zoom meeting. Click on the link  https://firstbanknigeria.zoom.us/webinar/register/WN_zrF8VViyTp6wnzED_3IpWw   to register and participate in the event. Registration is Free!!!

The webinar aims to set the tone for the year by providing an opportunity for participants to learn directly from economic experts to stay informed and knowledgeably empowered to make the right decisions in their socio-economic activities in 2022 which will be impacted by the micro and macro-economic activities of the country.

With Nigeria’s economy projected to grow by 2.7% in 2022 as predicted by The International Monetary Fund (IMF) based on an expected recovery in crude oil prices and production, Nigeria will see economic activities normalizing. Key economic activities to watch out for in 2022 include the Global Market trends, removal of subsidies, and floatation of the Naira. However, recoveries in the oil sector and maximization of the e-Naira could help keep the parallel market in check. 

Bismarck Rewane, the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited and the event’s keynote speaker will lead deliberations at the event. Other speakers are Ini Ebong, Executive Director, First Bank of Nigeria Limited Treasury and International Banking; Opeyemi Agbaje, Chief Executive Officer (CEO) of RTC Advisory Services Limited, Olaitan Martins, Group Executive, Transaction Banking and Augustine Uddin, the Chief Economist, FirstBank.

Since the outbreak of Covid-19 over two years ago, the global economy has witnessed viral economic shocks that adversely affected socio-economic activities. These have left many individuals and businesses struggling to stay afloat amid the economic downturn. As a leading financial inclusion services provider in the country, FirstBank has remained committed to providing products, services and initiatives that have been crucial in mitigating the adverse effects of Covid-19 on individuals and households.  

Speaking on the event, the Group Head, Marketing & Corporate Communications of FirstBank, Ms. Folake Ani-Mumuney said ‘being woven into fabric of the society for over 127 years means that we provide value, support and innovation-driven solutions for our stakeholders regardless of the challenges of the pandemic. Our commitment to nation-building is anchored partly on our thought leadership role designed to relentlessly drive growth and scale for all through engagements that showcase versatile subject matter experts endowed with expertise, knowledge and valuable insights. The webinar provides a platform for cross fertilization of ideas and opportunities to learn and grow. Nigeria is a country rich in human and natural resources and these have helped in the reforms and resilience reflected in the economy in 2021’.

The COVID 19 pandemic brought disruption and challenges and largely Nigeria adopted measures to contain it. The pandemic also provided opportunities for rebuilding and facilitating economic transformation to close the gap with the rest of the world. These include innovations in information technologies (IT) which have been critical to ensuring business continuity and productivity among firms that have re-designed their work processes as well as telecommunications and payment systems in the e-commerce sub-sector.

Whilst many of the current government policies are aimed at absorbing the shocks induced by the pandemic, it is important to note that an economy that seeks to recover and build resilience should be one that focuses on innovation and creativity in driving its goal.

The event is for everyone as discussants will have the economic outlook for 2022 dissected so participants are knowledgeably equipped to make the right decisions thereby better planning their business and financial activities.

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GTCO Plc Becomes the 1st Financial Services Institution in West Africa to Achieve Listing and Trading of its Ordinary Shares on the London Stock Exchange

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 Guaranty Trust Holding Company Plc (GTCO Plc), Africa’s leading and most profitable Financial Services Group, has recorded a significant milestone in its growth and expansion journey with the successful admission of its Ordinary Shares to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange.

This historic achievement makes GTCO Plc, the 1stFinancial Services Institution in West Africa to dual list its Ordinary Shares on both the Nigerian and London stock exchanges, and subject to certain criteria, it is expected that the Shares will be transferrable between the two exchanges.

The admission follows the successful pricing of its fully marketed offering (The Offering) on the London Stock Exchange to raise gross proceeds of $105million in exchange for 2.29 billion of new ordinary shares in the company, which was supported by a strong book of high-quality, long-term institutional investors.

Concurrent with the Offering, the Company also gave notice of its intention to cancel the listing of its existing GDRs on the certificates representing certain securities (depositary receipts) category of the Official List of the United Kingdom Financial Conduct Authority (“FCA”) and the admission to trading of GDRs on the London Stock Exchange’s main market for listed securities.

Building on the momentum of the successful first tranche of its equity capital raise programme in July 2024, which secured ₦209 billion, GTCO will deploy the proceeds from the Offering to strengthen its capital base, meet its recapitalization target, and fund strategic expansion across high-growth markets and priority sectors within and outside Nigeria.

It is expected that Admission and unconditional dealing in the Shares will become effective on or before 8.00 a.m. (UK time) on 9 July 2025 under the ticker “GTHC”. Following the cancellation of the GDRs listing, the Company intends to change the ticker symbol for the Shares from “GTHC” to “GTCO” and will issue a separate announcement in due course to that effect.

Commenting on the LSE Listing, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Today marks a major milestone—not just for GTCO, but for the future we see for African financial institutions on the global stage. We are incredibly proud to be the 1stFinancial Services Institution in West Africa to list our ordinary shares on London Stock Exchange’s main market for listed securities, and even more honored by the trust placed in us by the investing community. For us, this was not just about raising capital. It was about validating the strength of our franchise, the clarity of our strategy, and the discipline with which we execute.”

He further said; “I would like to thank everyone who made this possible—our advisors and legal teams, our longstanding shareholders, the regulators both in Nigeria and in the UK, as well as the Nigerian government for creating an environment that supports our bold ambition and vision to be Africa’s leading financial services institution.”

GTCO’s fully marketed offering attracted long-term institutional capital, reflecting investor confidence in the Group’s fundamentals, governance, and strategic outlook. It also signals improving market sentiment, buoyed by ongoing economic reforms by the Federal Government and a return to traditional orthodox monetary policy by the Central Bank of Nigeria, which have gone a long way to stabilising the macroeconomic environment and gradually restoring investor confidence in Nigeria’s long-term prospects.

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ZENITH BANK RETAINS TOP SPOT AS NUMBER ONE BANK IN NIGERIA BY TIER-1 CAPITAL FOR THE SIXTEENTH CONSECUTIVE YEAR IN THE 2025 TOP 1000 WORLD BANKS’ RANKING

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  • Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital for
    the sixteenth consecutive year, in the 2025 Top 1000 World Banks’ Rankings, published by The
    Banker,FinancialTimesGroup,UnitedKingdom.ThisrankingplacesZenithBankPlcasthe
    581st Bank globally, with a Tier-1 Capital of $2 billion.
    The global rankings, published inthe July 2025 edition of TheBanker, was based on the 2024
    year-end Tier-1capital ofbanks. Thisis theprimary basisformost internationalorganizations’
    assessments of banks.
    Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame
    (Dr.) Adaora Umeoji, OON, said, “We are thrilled to have retained our position yet again as the
    Number One Bank in Nigeria by Tier-1 capital for the 16th consecutive year. This achievement is
    a reflection of the bank’s robust financial performance, prudent risk management and steadfast
    dedication to delivering exceptional value to our customers and stakeholders”. She thanked the
    Founder and Chairman, Jim Ovia, CFR, for his visionary and transformative leadership which has
    playedapivotalroleincultivatingaresilientandthrivinginstitution.Shealsoexpressedher
    deepest appreciation to the bank’s esteemed customers for their continued loyalty to the Zenith
    brand, the Board for the sound corporate governance, and the staff for their relentless & tireless
    efforts in ensuring the bank’s success.
    Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a
    regulator’sperspective.Accordingtotheranking,Tier-1Capital,asdefinedbytheBankfor
    International Settlements(BIS) guidelines,includes loss-absorbingcapital, i.e.,common stock,
    disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are
    less than whollyowned. A strongTier-1 capital ratio boostsinvestor and depositorconfidence,
    indicating the Bank is well-capitalised and financially stable.
    Accordingtotheaudited financialresultsforthe2024financialyearpresented totheNigerian
    Exchange (NGX), the Bank recorded a double-digit growth of 86% in gross earnings, increasing
    from N2.13 trillion in 2023 to N3.97 trillion in 2024. This growth was driven by a 138% increase in
    interest income, supported by investment in high-yield government securities, and growth in the
    Bank’s loan book. Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024
    from N796 billion in 2023. This performance saw the bank record an unprecedented total dividend
    payout of N195.67 billion at N5.00 per ordinary share in the 2024 financial year.
    Zenith Bank’s track record of excellent performance has continued to earn the brand numerous
    awards including being recognised as the Bank of the Year (Nigeria) in The Banker’s Bank of the
    Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025,
    in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the
  • Euromoney Awards 2023; and being listed in the World Finance Top 100 Global Companies in
    2023.
    Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021
    to2024intheWorldFinanceBankingAwardsandMostSustainableBank,Nigeriainthe
    InternationalBanker2023and2024BankingAwards.Additionally,ZenithBankwas
    acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate
    Governance Awards from 2022 to 2024 and ‘Best in Corporate Governance’ Financial Services’
    Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
    The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in
    Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year
    2023 and 2024 at the BusinessDayBanks and Other Financial Institutions (BAFI) Awards, and
    Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI
    Awards.TheBankalsoreceivedtheaccoladesofBestCommercialBank,NigeriaandBest
    Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.
    ZenithBankwasalsonamedMostResponsibleOrganisationinAfrica,BestCompanyin
    Transparency and Reporting and Best Company in Gender Equality and Women Empowerment
    at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of
    theYear2024byNewTelegraphNewspaper;andBestinMSMETradeFinance,2023by
    Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’
    at the Nairametrics Capital Market Choice Awards 2025
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Body of Bank CEOs Delivers Critical Relief to Flood Victims in Niger State, Pledges Continued Support

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Pix 1 L-R: Registrar & Chief Executive of the Chartered Institute of Bankers of Nigeria (CIBN) Akin Morakinyo; Managing Director and Chief Executive Officer of Keystone Bank Limited, Mr. Hassan Imam; Group Managing Director/Chief Executive, Zenith Bank, Dame (Dr.) Adaora Umeoji; The Executive Governor of Niger State, His Excellency, Governor Mohammed Umaru Bago; Chairman, Body of Bank CEOs and Group Managing Director/CEO, United Bank for Africa (UBA) Plc, Oliver Alawuba; Managing Director Taj Bank Mr. Hamid Joda; and Secretary to the Government of Niger State (SSG), Alhaji Abubakar Usman during the donation of relief materials from the Body of Bank CEOs in Nigeria, aimed at supporting victims of the recent devastating floods in Mokwa Local Government Area held at the Niger State House in Abuja at the weekend.

The Executive Governor of Niger State, His Excellency, Governor Mohammed Umaru Bago; Chairman, Body of Bank CEOs and Group Managing Director/CEO, United Bank for Africa (UBA) Plc, Oliver Alawuba during the donation of relief materials from the Body of Bank CEOs in Nigeria, aimed at supporting victims of the recent devastating floods in Mokwa Local Government Area held at the Niger State House in Abuja at the weekend

Pix 3: L-R: Managing Director and Chief Executive Officer of Keystone Bank Limited, Mr. Hassan Imam; Group Managing Director/Chief Executive, Zenith Bank, Dame (Dr.) Adaora Umeoji; The Executive Governor of Niger State, His Excellency, Governor Mohammed Umaru Bago; Chairman, Body of Bank CEOs and Group Managing Director/CEO, United Bank for Africa (UBA) Plc, Oliver Alawuba; and Managing Director Taj Bank Mr. Hamid Joda, during the donation of relief materials from the Body of Bank CEOs in Nigeria, aimed at supporting victims of the recent devastating floods in Mokwa Local Government Area held at the Niger State House in Abuja at the weekend.

In a heartwarming display of corporate social responsibility and solidarity, a consortium of Nigerian Bank CEOs, has pledged significant support to alleviate the suffering of flood victims in Niger State

The Executive Governor of Niger State, His Excellency, Governor Mohammed Umaru Bago on Saturday in Abuja received relief materials from the Body of Bank CEOs led by its Chairman, Mr Oliver Alawuba.

The gesture is aimed at supporting victims of the recent devastating floods in Mokwa Local Government Area of the state.

Oliver Alawuba who is also the Group Managing Director/CEO of United Bank for Africa(UBA), led the delegation to the Niger State Government house Abuja, where they presented essential relief items, including bags of rice, beverages, vegetable oil, and mattresses, valued at millions of naira.

The devastating floods, which have affected thousands of families in the region, have prompted the banking community to come together in a show of empathy and support to those displaced and affected by the disaster.

In his address, Alawuba expressed the banking industry’s deep sympathy for the affected communities and reaffirmed their dedication to sustainable support while pointing out that the gesture underscores the banking sector’s commitment to corporate social responsibility and humanitarian intervention especially in times of crisis.

He said, “Today, we stand with the people of Niger State in their time of need. We want you to know that we feel your pain and we give you our firm resolve to assist in rebuilding lives. This donation is just the beginning; we pledge continued collaboration with the Niger State Government to ensure long-term recovery and resilience.”

Other top CEOs and executives at the presentation included by the Group Managing Director/Chief Executive of Zenith Bank, Dame (Dr.) Adaora Umeoji, the Registrar and Chief Executive of the Chartered Institute of Bankers of Nigeria (CIBN), Mr. Akin Morakinyo, Managing Director and Chief Executive Officer of Keystone Bank Limited, Mr. Hassan Imam; Managing Director Taj Bank Mr. Hamid Joda; Secretary to the Government of Niger State (SSG), Alhaji Abubakar Usman senior government officials, banking executives, and media representatives, marking a significant step in public-private collaboration for humanitarian relief.

Governor Bago, who received the relief materials on behalf of the state, commending the banking sector for its timely intervention.

“This gesture reinforces the critical role of private-sector partnerships in disaster response,” Governor Bago stated. “We are grateful for this support and look forward to deeper collaboration in safeguarding our communities against future challenges. On behalf of the good people of Niger State, particularly the affected families in Mokwa, I extend our sincerest thanks for this timely and compassionate intervention,” Bago stated.

“The recent floods in the state brought immense hardship to the people, displacing families, destroying livelihoods, and disrupting communities and the banking sector, under the leadership of Alawuba and his esteemed colleagues, has demonstrated that beyond financial stewardship, they are true partners in national development and humanitarian service.

This donation is not just about the physical items; it is a symbol of hope, resilience, and the unwavering support of Nigeria’s financial institutions in times of need. It reassures our people that they are not forgotten, the governor stated.

 

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