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L-R:       Mrs. Cathy Echeozo, Chairperson, NGX Regulation Ltd; Mr. Hezekiah Oyinlola, Non-Executive Director, GTBank Nigeria; Ibrahim Hassan, Non-Executive Director, GTBank Nigeria; Mr. Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc; Mr. Temi Popoola,CFA Chief Executive Officer, Nigerian Exchange (NGX) Limited; Mrs. Osaretin Demuren, Outgoing Chairman, GTBank Nigeria; Mrs. Miriam Olusanya, Executive Director, GTBank Nigeria; Mr. Seyi Osunkeye, Non- Executive Director, NGX Ltd and other NGX Ltd Executives during the Closing Gong Ceremony to mark the listing of GTCO Plc on the NGX yesterday in Lagos

The Nigerian Exchange (NGX) Limited, on Tuesday, July 13, marked the listing of Guaranty Trust Holding Company Plc’s (“GTCO Plc”) shares with a Closing Gong Ceremony on the main floor of the exchange. This follows the completion of all regulatory requirements for the corporate reorganization of the leading financial institution into a holding company structure and the listing of GTCO Plc, on the Nigerian Exchange (NGX) Limited and the London Stock Exchange, replacing Guaranty Trust Bank Plc. 

Guaranty Trust was first listed on the Nigerian Exchange in 1997, winning the “Nigerian Stock Exchange President’s Merit Award” within months of its listing. In 2007, it became the first Nigerian bank to list on London Stock Exchange, the first to dual list on an international exchange and the first Nigerian company to raise international capital using listed Global Depositary Receipts. Since then, Guaranty Trust has embarked on a decade of unparalleled growth with total assets and shareholders’ funds closing at ₦4.993trillion and ₦837.2billion respectively, at the end of Q1, 2021. 

As part of its long-term growth strategy, Guaranty Trust has now adopted a holding company structure wherein GTCO Plc will operate as the parent company of all Guaranty Trust banking businesses across Africa and the United Kingdom as well as other non-banking businesses which will be established following the transition. 

Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust, commented: “These are very exciting times for us. Following our transition, we can now compete more effectively with non-banks in this new and evolving competitive landscape, whilst creating more value for customers and shareholders than we ever could as a bank. 

Although we are delighted to have completed this rigorous transition process, we know that the hard work has just begun. We are in the final phase of building a new payments business that will deepen and extend digital financial services across Africa. We also believe that we are in a better position to drive an Asset Management business and a Pension Fund business, given our strong retail base and digital-first approach to financial services, which we have honed over the past decade.” 

Founded in 1990, Guaranty Trust has maintained an unbroken streak of year-on-year growth and a consistent lead in driving the digitization of financial services in Africa. It is the best managed financial institution in Nigeria, leading the industry across key financial indices, such as Return on Equity (ROAE of 26.0% in Q1 2021), Return on Assets (ROAA of 4.3% in Q1 2021), and Cost to Income ratio (42.6% in Q1 2021).

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Yemisi Imasi, CEO of Yellowpoint Group Declared Wanted by Nigeria Police For Fraud

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The Nigeria Police Force has declared Victoria Yemisi Imasi, CEO of Yellowpoint Group wanted.

 

The warrant of arrest was issued by the Magistrate/High Court of Lagos, according to the special police Gazette .

 

The publication shows that the 46-year-old is wanted for fraud, obtaining money under false pretense, and stealing in Lagos by the assistant inspector general of the police Criminal Investigation Department, (FCID) Alagbon, Ikoyi – Lagos.

 

*Sketchy* *operations* : The development followed a petition by Chive GPS, a dispute resolution company that provides debt recovery solutions on issues bothering on obtaining money by false pretense and fraud against Imasi.

 

The debt recovery company had laid a criminal complaint, dated 16th July 2021, of a well-orchestrated theft by Imasi following an advert by her company, Yellow Point Media Enterprise, and Yellow Point FT International Ltd on social media channels.

 

One of the affected victims suffered a N47.73 million loss after transferring the money to different accounts operated by Imasi’s company with the intention of investing genuinely in the various investment packages in exchange for a fixed return.

 

Amount owed to subscribers: While the exact amount owed to all subscribers is unknown yet, reports indicate that the amount owed may sum up to billions of Naira.

 

On a platform, victims claim that over N10 billion was deceitfully and fraudulently collected from over 6000 Nigerians with the intention of trading forex.

 

The petition signed by 689 users as of press time accuses Yemisi of diverting the money to fund her lavish lifestyle and buying properties.

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Business

Shop Big Deals This Black Friday On Squad Black November

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With Black Friday finally around the corner, HabariPay is thrilled to announce that it has launched a seller community platform highlighting some of its merchants who have amazing deals for the season! Shoppers are encouraged to check out the Squad Black November sale page here to buy fashion pieces, groceries, household items, electronics, food, art, and so much more at unbeatable discounts! The sale is currently live and will run from now till 30th November 2022.With over 60% of shoppers set to purchase Black Friday deals online this year, HabariPay launched its #SquadBlackNovember campaign to help small businesses seamlessly showcase their products and services online. The company also supported these businesses with discounted logistics, FREE advertising, and connections with millions of ready-to-buy customers to ensure they would achieve massive sales during the period.Also, beyond the discounted prices, customers also have the opportunity to win shopping vouchers and coupons through trivia and contests on the brand’s pages. Follow and stay tuned @Officialsquadco on all platforms to be a part of this!Thinking of treating yourself or getting some early Christmas presents? Shop the Black November sale here – https://squadco.com/black-november/! PS: You still have a chance to be a part of this campaign as a merchant! Follow these steps:Sign up to Squad here – https://dashboard.squadco.com/sign-up and complete your KYC (if you haven’t).Upload the products you have for the black Friday sale to your Squad Storefront in readiness for sale, and make sure you reflect the discounts on each product. Visit the Google form here to input your details! Share your business name & category, brand logo, email, phone number and Squad frontlink.

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