Banking

GTBank to go Ahead with AGM, to Stream Meeting Live

Published

6 years ago

25/03/2020

By Modupe Gbadeyanka

The management of Guaranty Trust Bank (GTBank) Plc has disclosed that it would go ahead with its Annual General Meeting (AGM) scheduled for Monday, March 30, 2020.

Due to the coronavirus pandemic, the Lagos State government has banned gatherings of more than 25 persons so as to stop the spread of the disease, which has infected at least 46 persons in Nigeria and has claimed one life. Globally, nearly 500,000 persons have been infected, while almost 20,000 people have died from the disease.

The directive restricting gatherings more than 25 persons was made by the state government after the lender had fixed its annual shareholders’ gathering, the 30th edition, slated to take place at Oriental Hotel, Victoria Island, Lagos.

GTBank, in a notice to the Nigerian Stock Exchange (NSE) today, said it would hold the AGM because of the legal framework and corporate actions predicated on the meeting, which include the payment of dividends, election of audit committee members, the filing of annual returns and approval of the fee of external auditors, which actions will remain in abeyance if the gathering is postponed or cancelled.

GTBank explained that it held meetings with the regulators on the AGM and it was agreed that it could be held with attendance by proxy to minimize social contact.

The lender said shareholders are advised to appoint proxies to represent them at the meeting as “the company would abide by the Lagos State government directive of not having more than 25 people in a gathering (or any other number as may be permitted at the date of the meeting).”

“Thus, as a law-abiding corporate citizen, the number of people that would be allowed into the venue of the AGM will be restricted to the number the Lagos State government permits for social/public gathering as at the date of the meeting.

“Kindly note that the measures above take into consideration the provisions on quorum for the meeting, as quorum can be achieved either by physical attendance or by proxy,” it added.

GTBank urged shareholders to appoint proxies and send the duly completed proxy form(s) to the registrar, Datamax Registrars Limited at No 2c, Gbagada Express Road, Gbagada Phase 1, Lagos State or via email to [email protected], not less than 48 hours before March 30, 2020, noting that, “The Annual General Meeting would also be streamed live on the bank’s website and shareholders are encouraged to log in to observe proceedings.”

It further said, “The shareholders who are able to attend the AGM would be properly screened at the security points and be required to undergo safety/health measures as directed by the Nigeria Centre for Disease Control (NCDC) and the Lagos State Ministry of Health.”

“It is important to note that these measures have been put in place to ensure the health and safety of our staff and esteemed shareholders and to further ensure that the operations of the company are not disrupted as a result of the inability to carry our corporate actions,” the bank concluded.

Banking

Secure IT, StockMed, 18 Others Make Wema Bank Hackaholics 6.0 Top 20 List

Published

2 hours ago

18/12/2025

Modupe Gbadeyanka

By Modupe Gbadeyanka

The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.

The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.

The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.

They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.

They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.

The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.

In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.

The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.

After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.

“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.

“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.

“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.

“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.

“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.

Banking

Customs to Penalise Banks for Delayed Revenue Remittance

Published

7 hours ago

18/12/2025

Adedapo Adesanya

By Adedapo Adesanya

The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.

This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.

“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.

“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.

“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”

Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.

He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.

“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.

“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.

Banking

First Bank Deputy MD Sells Off 11.8m First Holdco Shares Worth N366.9m

Published

7 hours ago

18/12/2025

Aduragbemi Omiyale

By Aduragbemi Omiyale

The deputy managing director of First Bank of Nigeria (FBN) Limited, Mr Ini Ebong, has offloaded some shares of FBN Holdings Plc, the parent firm of the banking institution.

A regulatory notice from the Nigerian Exchange (NGX) Limited confirmed the development on Thursday.

It was disclosed that the transaction occurred on Friday, December 12, 2025, on the floor of the stock exchange.

The sale involved about 11.8 million shares, precisely 11,783,333 units traded at N31.14 per share, amounting to about N366.9 million.

Mr Ebong, who studied Architecture from University of Ife and obtained Bachelor and Master of Science degrees, became the DMD of First Bank in June 2024. Prior to this appointment, he was Executive Director, Treasury and International Banking since January 2022.

He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the bank’s Treasurer from 2011 to 2016.

Before joining First Bank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital. He also worked with Citigroup for 14 years as Country Treasurer and Sales and Trading Business Head.

He has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities.

He has worked closely with regulatory bodies such as the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) in assisting with the development of fresh monetary and foreign exchange policies, to broaden and deepen markets and open them up to international practices.

At various times he has facilitated and delivered courses and seminars on a wide variety of subjects covering Money Markets, Securities and Foreign exchange trading and market risk management subjects to regulators, corporate customers, banks and market participants.