Guaranty Trust Fund Managers Limited (“GTFML” or the “Fund Manager”), the asset management subsidiary of Guaranty Trust Holding Company Plc, today announced the launch of the Guaranty Trust Investment Fund 724 (“Fund 724”), an open-ended, naira-denominated Unit Trust Scheme duly authorised and registered by the Securities and Exchange Commission, Nigeria (SEC). The Scheme lists 10,000,000 Units of ₦100.00 each in the Fund by way of Offer for Subscription and aims to distribute the capital growth it generates from a diversified portfolio of money market instruments, including fixed deposits, commercial papers, Nigerian Treasury Bills, and other short-term instruments to subscribers of…
Author: Khadijah Olowode
As Nigerians await Kogi State former governor, Yahaya Bello’s arraignment over alleged diversion of public funds made against him by the Economic and Financial Crimes Commission (EFCC), legal practitioners and human rights activists have raised concerns over lack of synergy among law enforcement agencies, identifying it as major reason behind more record of corruption cases in public offices. They stated that the poor cooperation between them especially the EFCC and Police as well as Directorate of State Services (DSS) has been a major hurdle holding back government’s push to reduce corruption in public offices as well as ensure strict adherence…
By Enejo Shaibu Since the saga between the Economic and Financial Crimes Commission (EFCC) and former governor of Kogi State, Yahaya Adoza Bello one question that crescendos in the minds of well-meaning Nigerians is: what is it about the former Kogi governor that heads of security agencies ‘’fold their arms’’ while the institutions they run are being rubbished? It is now common knowledge that Bello and the EFCC have been in the news due to allegations and investigations relating to financial misconduct during his tenure as governor of Kogi State. Bello, who served as the governor of Kogi for eight…
Despite lawmakers and other politicians’ calls for suspension and possible removal of the Chairman of the Economic and Financial Crimes Commission (EFCC) Ola Olukoyede, after dusting reports on allegations of financial improprieties against high-profile current and former public officeholders, the appeals have not caught the attention of President Bola Tinubu, who has held tenaciously to his campaign promises on corruption. Rather than consider appeals from members of his political party, All Progressives Congress (APC), and opposition parties, the President directed that the Olukoyede-led anti-graft agency build on achievements recorded and effectively tackle corruption particularly as it affects Nigeria’s image. While…
Former member of the Lagos State House of Assembly, Dr Oluyinka Ogundimu has described the Senior Special Assistant to the President on Sustainable Development Goals (SSAP-SDGs), Princess Adejoke Orelope-Adefulire as a pride not only to Lagos State but also to Nigeria, reports thegazellenews.com Dr Ogundimu stated that the former Deputy Governor of Lagos State has always displayed her motherly care to all who come across her. Dr Ogundimu stated this in his birthday message to the SSAP-SDGs on her 65th birthday celebration. “She has made all of us proud, not only in Lagos State but in the entire country. “Her…
Shell has named a new Managing Director for its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo.) He is Ronald Adams, formerly Chief Executive Officer of Atlantic LNG, Trinidad and Tobago. He takes over from Elohor Aiboni who proceeds on international assignment to Brunei Shell Petroleum (BSP) as Asset Director. Both appointments take effect today (October 1.) Country Chair, Shell Companies in Nigeria, Osagie Okunbor said: “I’m pleased to welcome Ronald to Nigeria to consolidate and further improve the outstanding performances of SNEPCo in deep-water production and life-changing social investments across Nigeria. I wish to congratulate Elohor for the outstanding…
Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard. As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel. …
The Federal Government has confirmed that it will commence the supply of crude in Naira by the Nigerian National Petroleum Company Limited(NNPCL) to the Dangote Refinery from Tuesday, October 2024 to reduce the cost of Premium Motor Spirit(Petrol). Dare Adekanmbi, the spokesperson to the Chairman of the Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency, Zacch Adedeji and the Chairman of the Federal Inland Revenue Service confirmed this in a statement on Sunday, 29 September, 2024 He said, “I can confirm to you that the Chairman, Sub-Technical Committee, Zacch Adedeji, is working day and night to ensure…
Imports bill on used vehicles (Tokunbo) in Nigeria dropped by 83 percent to N138.62 billion in the first half of 2024 compared to N819.15 billion the corresponding period in 2023. This is according to the National Bureau of Statistics, NBS, Commodity Price Indices and Terms of Trade Data. According to the data, in Q2 2024, the value of imported used vehicles stood at N138.62 billion, representing an 81.5 percent decline on a year-on-year basis from N749.92 billion in Q2 2023. Further analysis of the data indicated that the used vehicles were imported mainly from the United States of America. “On…
The World Bank on Monday, 30 September, 2024 announced that it has approved an additional $1.57 billion loan to the Nigerian government to fund three projects. The Washington-based bank, which made this disclosure in a statement issued on Monday, 30 September, 2024, noted that new funding will support Nigeria in addressing governance challenges in education and healthcare, improving primary healthcare services, and increasing resilience to climate change through enhanced dam safety and irrigation infrastructure. According to the World Bank, the approval of the loan was made last week, 26 September, 2024. The approved funding highlights the World Bank’s commitment to strengthening…