Kunle Awosika

President of Dangote Group, Aliko Dangote, on Sunday stated that his company’s aim is to become the leading supplier of foreign exchange in the FX market soon, as it targets $30 billion in revenues by the year 2025.

Guaranty Trust Holding Company plc (“GTCO PLC” or the “Issuer”) (NGX: GTCO) today announced the opening of its Offer for Subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at N44.50 per Ordinary Share (the “Offer”) following the clearance of the Offer Prospectus and registration of the Offer Shares by the Securities and Exchange Commission, Nigeria (SEC Nigeria). Net proceeds of the Offer will be applied toward the recapitalisation of GTCO PLC’s principal banking subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria) as well as support Group-wide growth and expansion initiatives. 

Despite the growing controversy surrounding Betta Edu's alleged manipulation of the Ministry of Humanitarian Affairs and Poverty Alleviation, the Economic and Financial Crimes Commission (EFCC) has remained notably silent on the matter.

In a shocking turn of events, suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, has sparked outrage by extending condolences to the victims of the Jos school building collapse using official ministry letterhead. This move has raised eyebrows and implications of her continued influence despite her suspension.

Cyberbullies often believe they can hide behind their electronic devices to harm others without consequence. However, one woman is finding out that the law can catch up with them.

Following recent online reports and a video circulating online, as well as an article published in the Tribune newspapers, BUA Cement Plc wishes to clarify that the truck involved in the accident on Agulu-Agwubu Road in Anambra State on Tuesday, July 9, 2024, is not a BUA Cement truck.

Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, retaining the award for a fourth consecutive year.

Management of Dangote Cement, Okpella has signed a development and social support agreement with its Okpella Edo state host communities in demonstration of its commitment to the development and overall well-being of host communities and their people, as a responsible corporate entity

The signing of the Community Development Agreement (CDA) came just as the Edo state and the federal government commended the company for its proactiveness in planning for the growth of its host communities as a sure means of promoting peaceful co-habitation.

The Okpella Plant Director, Dangote Cement Plc, Mr. Mohammed Ismaeel, at the CDA signing ceremony said the cement company has fully complied with the provisions of the Minerals and Mining Act, 2007 and that of the Minerals and Mining Regulation 2011 of the federal republic of Nigeria.

Signing the agreement on behalf of the company at Okpella, Mr. Ismaeel said the ceremony was very significant in that it aimed at promoting harmonious and mutual benefits between the cement company and its host communities.

"Today's occasion is not only a demonstration of our compliance to these regulatory provisions as a responsible corporate organization but it also a demonstration of our commitment to the development and overall wellbeing of our host communities.

"For us as a company, we believe in the mantra, good neighbourliness is good business, hence we are doing everything possible to maintain harmonious relationship with all the communities where we operate", Ismaeel added.

He added that the occasion marks the beginning of concrete infrastructural development and social supports in the areas of education, improved access to health care, economic empowerment programmes targeted at the youths, women and the farming population, improved access to potable water, support to improve electrification and power supply among other things.

The Plant Director pointed out that the CDA also provides for scholarship grants for students in secondary and tertiary institutions to promote excellence in educational pursuits of indigent students from Dangote Cement, Okpella host communities.

He added that the CDA document clearly states the consultative framework for engagements, grievance management and obligations of both the Plant and the host communities for mutual growth and development stressing that, it is clearly a path to define relationships, commitments, obligations and expectations with potential to address immediate concerns and future social issues that may arise in the course of the relationship between the company and its host communities.

Ishmaeel then requested the host communities to keep their end of the bargain by supporting and collaborating with the company so as to foster all round development. “Be assured that we are always ready to listen, dialogue and resolve all concerns”, he noted.

Speaking on the occasion, the Edo State Commissioner for Mines and Energy, Hon. Donatus Ojiefoh, who represented the State Governor, Godwin Obaseki, praised the company’s management for taking the path of peace with its host communities pledging by so doing, that the state governor will always support any investors who wants to invest in the state.

He assured the people of the communities that more investors are willing to come and invest in the state but that the people most be willing to cooperate and provide the enabling environment for them to operate.

Ojiefoh admitted that it is imperative for students to study the mineral resources that are abound in their communities in order to be able to appreciate them.

In her own remark, the host Etsako East Local Government Chairman, Mrs. Benedicta Atu, commended the company for signing the agreement despite the odds and the delay occasioned by some factors saying it was good that the signing took place at the time.

She called on the companies operating within the local government to urgently help with the payment of the monumentization of the boundary between Okpella and Kogi State.

Speaking for the host communities, High Chief Afiabor Peter, Secretary, Ukhomunyio Council of Village Heads, Afokpella thanked the Dangote's Cement for the signing of the CDA, saying that it was a welcome development as it will benefit all the parties involved.

He expressed confidence that all that are contained in the agreement were thorough reflections of the wish and aspirations of the host communities and promised that the host communities would be up and doing to fulfil their own side of the bargain.

The Group Managing Director/Chief Executive Officer, United Bank for Africa, (UBA) Plc, Oliver Alawuba has been appointed as the Chairman of the Chartered Institute of Bankers of Nigeria (CIBN) Body of Banks’ CEOs.

International financial analytics corporation, S&P Global, has described the 650,000 barrels per day (bpd) Dangote Oil Refinery and Petrochemicals company as capable of resolving Nigeria’s foreign exchange (forex) issue and its huge pressure on the local Naira currency, while also catalysing the country’s economic development.