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GTCO to Raise N400.5bn Capital Via Public Offer

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Guaranty Trust Holding Company Plc (GTCO) says it plans to raise N400.5 billion through a public offer on the Nigerian Exchange Ltd. (NGX).

Mr Segun Agbaje, Group Managing Director of GTCO, disclosed this on Monday during the “Facts Behind the Offer Presentation” in Lagos.

The capital raise is subject to Securities and Exchange Commission (SEC) approval and is aimed at meeting the Central Bank of Nigeria’s (CBN) recapitalisation directive for banks.

Agbaje outlined the plan to issue nine billion ordinary shares of 50 kobo each at an offer price of N44.50 per share, stating that the initiative was set in motion before the CBN’s announcement earlier in the year.

He attributed the need for additional capital to offset the effects of the Naira devaluation, which had impacted banks’ asset strength and operational capacities.

Agbaje expressed confidence in GTCO’s ability to achieve significant milestones, including becoming the first Nigerian financial institution to reach one billion dollars in profit.

He emphasised the importance of boosting the market capitalisation to enhance Nigeria’s economic standing.

“We want a market capitalisation that Nigeria will be proud of.

“There is no Nigerian company that has ever made one billion dollar in profit and we are going to be the first to achieve it,” he added.

According to him, the balance sheets of banks have shrunk and the ability to do business has reduced, thus, they need equity to operate.

In line with the Federal Government’s goal of achieving a one trillion dollar economy by 2026, Agbaje said ut was necessary for banks to increase their equity base to support expanded business operations.

Looking ahead, he outlined GTCO’s growth strategy, which includes deepening its footprint in Nigeria and expanding into critical sectors such as the pension industry.

He also said that the group planned to invest in Senegal and expand operations in Cote d’Ivoire, Ghana, and Kenya.

He stated that the group would also embark on acquisition with the new capital and also change its core-banking software across its region.

Addressing stakeholders, Alhaji Umaru Kwairanga, Group Chairman of NGX Group Plc, commended GTCO for its resilience and leadership in the financial sector.

He affirmed NGX’s commitment to supporting GTCO and other financial institutions in their recapitalisation endeavours.

Kwairanga highlighted NGX’s initiatives aimed at enhancing market efficiency and accessibility, noting that GTCO’s proactive engagement through presentations like these fosters transparency and investor confidence.

Ahonsi Unuigbe, the Chairman of NGX Exchange Ltd., lauded GTCO’s recent financial performance, citing gross earnings of N1.19 trillion and robust profitability metrics.

He urged GTCO to maintain sustainability amidst evolving economic landscapes by upholding high standards of corporate governance and regulatory compliance.

Unuigbe advised GTCO to continue delivering value to shareholders through strategic initiatives that promote long-term growth and stability in the Nigerian financial market.

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CWIDI Trains Young Girls on Legal, Health Rights to Mitigate SGBV in Benue

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By David Torough, Abuja

About fifty Adolescent Girls and Young Women (AGYW) living in rural communities and villages in Tarka local government have been empowered with relevant laws to enable them to advocate for their legal and health rights, following the high prevalence of Sexual and Gender-Based Violence (SGBV) in the state.

The young women, aged between 15 and 25 years and considered highly vulnerable, were engaged in a two-day capacity-building workshop that focused on relevant human rights and legal provisions, including the Violence Against Persons Prohibition (VAPP) Law.

The workshop was held in Wannune, Tarka Local Government Area of Benue State.

The training, organised by the Concerned Women International Development Initiative (CWIDI) with support from the French Embassy Fund for Civil Society Organisations (FEF-OSC), was titled “Empowering Highly Vulnerable Adolescent Girls and Young Women with Legal and Health Rights Awareness.”

According to a 2024 reported survey, Benue State recorded a prevalence rate of 72 per cent, indicating a high level of Gender-Based Violence (GBV) experiences. The report further shows increasing cases of sexual exploitation, intimate partner violence, child sexual abuse, rape, among others, particularly affecting adolescent girls and young women in the state.

The Executive Director of CWIDI, Bridget Okeke, represented by the Programme Officer, Becky Gbihi, said the organisation embarked on the project to educate and empower young women in rural communities with relevant legal and health rights knowledge to help mitigate incidences of SGBV.

Gbihi maintained that once young women understand their rights, society becomes better, as they are more equipped with accurate information to share and create awareness among their peers and other young girls.

The lead guest speaker, former Chairman of the Nigerian Bar Association (NBA), Makurdi Branch, Barrister Justin Gbagir, who recently resigned as Executive Director of Justice Rights Initiative, stated in his presentation on legal rights that both males and females, irrespective of status, are equal before the law. He described the violation of women’s rights as worrisome in Nigeria and Benue State due to several factors, and urged young girls to approach the police or courts whenever their rights are violated, assuring them that justice would be served.

The second guest speaker, Dr Dooter Christiana Mnena, identified stigmatisation, fear, and lack of awareness as major reasons for the underreporting of SGBV cases. She noted that inadequate knowledge of relevant laws and appropriate response steps often prevents victims from seeking help, expressing optimism that such training would empower more young women to know what to do when violated.

Some of the participants, including Anaka Keziah and Nyesan Faith, who thanked CWIDI for the workshop, expressed joy and satisfaction, stating that they learned a great deal from the training. They promised to cascade the knowledge gained to their friends and family members.

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Nasarawa Tiv Ethnic Nationality Pays Tribute to Benue Guber Aspirant

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By David Torough, Abuja

Leaders of the Tiv ethnic nationality from Nasarawa State, led by Prof. Dugeri Terzungwe, paid a thank you and solidarity visit to Prof. Sebastine Hon, SAN, in his Abuja residence.

Speaker after speaker, each of them praised Prof.

Hon’s enormous contributions to their welfare in Nasarawa State.
They singled out the various cases he is handling free of charge for them concerning confiscation of their ancestral lands by the Nasarawa State Government and several other interventions, including lifting their children in their chosen careers.
They further appreciated Prof. Hon for always standing up for justice, including the defence of Prof.
Zacharys Gundu, in the defamation suit filed by Governor Sule of Nasarawa State.

According to them, Governor Sule wants to silence Tiv Nasarawa and further oppress them by filing that suit. They expressed their strong support for Prof. Hon’s governorship ambition in Benue State, saying that Benue needs such a purposeful leader.

They pledged to encourage their kith and kin in Ihyarev axis of Benue State and all their loved ones in the State to support Prof. Hon’s candidature.

Responding, Prof. Hon thanked the visitors for their show of love, promising to continue to do his best in all areas of human endeavour.

Other members of the delegation included T.J. Aondo, SAN, Emmanuel Iotim Agyoh, Sir Francis Akie (KSM), Kumaiin Ikya fnivs), Alphonsus Audu, Matthias Ikyav, Tivlumun Aondo, Ehud Agera, Sarah Zakari, Shimachimin Moses and Ukoyor Thomas.

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CIMICO Condemns Kaiama Attack

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…Calls for Closer Civil, Military Cooperation

By Mike Odiakose, Abuja

The Centre for Civil-Military Cooperation (CIMICO) has condemned the recent Boko Haram attack in Kaiama, Kwara State, describing it as reprehensible and anachronistic.

Reacting to the incident on Thursday in Abuja, the Coordinator of the CIMICO Center, Dr.

Adams Otakwu mni, called on civil society organizations and citizens to volunteer credible information and intelligence to assist security agencies in tracking down those responsible.

“This is a moment that requires active civil–military cooperation. Citizens must see themselves as partners in security by providing useful information that can help identify and arrest the perpetrators,” he said.

The attack also prompted a response from the Federal Government, with President Bola Ahmed Tinubu ordering the deployment of an Army battalion to the area.

Dr. Otakwu noted that the development places a serious responsibility on the Armed Forces to demonstrate their operational capacity in containing the threat.

“This incident is a test of national security preparedness. The ability to fish out the culprits swiftly will send a strong signal that insurgency has no space in the North-Central region,” he stated.

He further maintained that bringing the attackers to justice would have implications beyond the immediate security situation.

According to Dr. Otakwu, “successfully tracking and prosecuting those behind this attack will go a long way in reshaping international commentary and perception of Nigeria’s security environment.”

He stressed on the need for the greater Civil-Military Cooperation in Nigeria, as sustained vigilance, community participation, and intelligence sharing remain critical to counterterrorism efforts.

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