Business and Economy
Euromoney Awards: GTBank Ranked Best Bank in Nigeria
Guaranty Trust Bank Ltd. has been ranked the”Best Bank in Nigeria” at the Euromoney Awards for Excellence 2023.
The bank said in a statement on Monday that the latest recognition underscored the bank as the leading financial institution in Nigeria. adsbygoogle || []).push({}); com/pagead/js/adsbygoogle.js">
Announcing the award, Euromoney said: “Nigeria’s best bank, Guaranty Trust Bank, has continued to do a good job of convincing investors that it is better placed than its key competitors to deal with the risks ahead and perhaps to take advantage of opportunities in economic and policy transition.
“Despite a difficult operating environment, the bank continues to deliver exceptional results as the flagship franchise of Guaranty Trust Holding Company Plc.
“It recorded a profit before tax of N214.2 billion, pre-tax return on Equity (ROAE) of 23.6 per cent, and Cost to Income Ratio (CIR) of 48.0 per cent for the period ended, Dec. 31, 2022.”
Euromoney is an authority for global banking and financial markets and the annual awards for excellence, celebrates financial institutions that demonstrate leadership, innovation, and resilience in the markets they operate.
Commenting on the award, Mrs Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd., said, “we are honoured to be named the Best Bank in Nigeria by Euromoney.
“This recognition reflects our unwavering commitment to the values of excellence and innovation which form the bedrock of our value proposition as an institution and has guided the mother-brand to achieve remarkable success for over 30 years.
“As part of a thriving financial holding company, we will continue to prioritise service delivery and innovation whilst maintaining our strong financial performance,” she said.
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Business and Economy
Kogi Govt Opens Bids for Livestock Market Rehabilitation Project
From Joseph Amedu, Lokoja
The Kogi State Government has embarked on a major initiative to rehabilitate nine livestock markets across the three senatorial districts of the state.
The bid opening ceremony for the project took place over the weekend, at Kogi State Livestock Productivity and Resilience Support (Kogi L-PRES) Project office in Lokoja.
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The Project Coordinator, Mr Abdulkabir Onoruoyiza Otaru, highlighted the importance of the initiative and assured of a transparent process.
Otaru described the market rehabilitation project as a new dawn in Kogi State’s livestock value chain, and commended Gov. Ahmed Ododo for fully supporting the project.
He revealed that the World Bank had approved the project, with nine livestock markets to be rehabilitated in the first phase across the state’s nine Federal Constituencies.
“We’ve secured World Bank approval for the rehabilitation of one livestock market in each of Kogi State’s nine Federal Constituencies.
“We’ve engaged stakeholders to ensure a smooth bidding process and successful project execution.
“I urge the winning contractor to deliver high-quality work within the timeframe.
“Governor Ahmed Ododo’s support for L-PRES has been instrumental in improving livestock farmers’ livelihoods and the state’s economy,” Otaru said.
He emphasised that the rehabilitation of the nine livestock markets is expected to enhance livestock productivity and value chain in the state, improving the livelihoods of farmers and the economy,” Otaru said.
The Commissioner for Livestock Development, Dr Olufemi Bolarin, said the rehabilitation project aims to enhance the livestock sector, crucial to the state’s economy and food security.
“The modernisation of the markets will improve trading conditions, boost the livelihoods of farmers and traders, and create hygienic and efficient market spaces that meet international standards,” Bolarin said.
Represented by the Ministry’s Director of Livestock, Mr Ali Peter, the commissioner emphasised the need for a transparent and competitive bidding process.
The commissioner urged participants to adhere strictly to the guidelines.
The ministry’s Permanent Secretary,, Dr Abdulsalam Hadi, commended the governor for his commitment to transforming livestock development in the state.
He expressed confidence that the project would be a success, contributing significantly to the growth of the state.
The Kogi L-PRES Procurement Officer, Mr Adeolu Oshadare, disclosed that five companies submitted bidding documents with prices ranging from N1.22 billion to N2.12 billion.
According to him, the project bid was advertised on September 12, 2025, and five companies submitted bids by October 10, 2025.
According to him, the bid prices are: Nuelika Infinity Ltd (N1.54 billion), Izyprecs Ltd (N1.55 billion), Emmanuel-NIK and Gold Ltd (N1.47 billion), RSA Global Investment Ltd (N1.22 billion), and Numora Integrated Ltd (N2.12 billion).
Adeolu noted that the next stage would be the evaluation of bids by the evaluation committee within the next week.
In his remarks, Prof Usman Omeiza, Chairman of the Chartered Institute of Purchasing and Supply, Kogi State Branch, commended the Kogi State Livestock Ministry, L-PRES, and other stakeholders for ensuring a seamless and transparent bidding process.
He urged them to maintain this transparency throughout the project.
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Business and Economy
KGIRS Gives Rebates, Urges Land Owners towards Voluntary Payment
From Joseph Amedu, Lokoja
The Kogi State Internal Revenue Service (KGIRS) has charged property owners who have received Land Use Charge Demand Notice to pay in order to fulfil their obligation to the State.
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Executive Chairman of KGIRS, Alhaji Sule Salihu Enehe made the call in a chat with Our Reporter on the significance of Land Use Charge and early payment of the tax.
He said the Land Use Charge introduced by the government was aimed at eliminating the burden of multiple taxation, provision of a more streamlined and efficient system.
Alhaji Enehe urged property owners that have receivethem enjoy Use Charge (LUC) Demand Notice to pay as soon as possible to enable them enjoy early payment incentives.
“Payment within 5 days of receipt of Demand Notice attracts 15% discount while payment within 15 days of receipt of demand notice has 10% discount and payment within 25 days of receipt of Demand Notice also has 5% discount to encourage prompt payment of the LUC.
“Payment can be made in all bank branches across the State as well as Kogi State Revenue POS Agents” he stated.
He assured that government would continue to use the revenue for infrastructure development, maintenance of the environment, and provision of adequate security for the State.
While re-emphasising the significance of the tax, the Executive Chairman, KGIRS, said “The Land Use Charge offers several benefits, including; Accurate assessment of property values for taxation purposes, Identification and registration of property in the State, Allocation of land for government projects and social amenities, Employment opportunities for enumerators from the District, and Creation of a reliable database on the property makeup of the State to inform decision-making.
“The tax obligation section of the Land Use Charge focuses on property used for lease and commercial purposes, but there are exemptions, and they include; Property owned and occupied by religious bodies for public worship or education, Public cemeteries and burial grounds,
“Others are non-profit educational institutions and public libraries, palaces of recognised traditional rulers, community property like town-halls used for community meetings, and Property owned and occupied by pensioners” Alhaji Enehe stated.
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Business and Economy
Kogi Revenue Generation Capacity Hits N3 billion Monthly
From Joseph Amedu, Lokoja
The Executive Chairman of the Kogi State Revenue Service (KGIRS), Sule Salihu Enehe has said that the revenue generation capacity of the state under his leadership has increased to N3 billion Monthly.
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The Executive Chairman disclosed this while giving account of his leadership since he came on board during the Stewardship Forum organised by the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ), Kogi State Council on Thursday.
Enehe said that him and his management team have lived up to expectation in ensuring effective tax administration and service delivery.
He noted that the N3 billion monthly revenue generation currently in place supercede the proposed taxation income budget for the half year.
“We will ensure that the revenue figure attained does not drop but continue to go higher. KGIRS under my administration has been able to judiciously utilised its 10% IGR in payment of staff salaries and running its day to day operations
“We have also been able to change the narrative through capacity building and care for staff welfare as well as promotion of staff and adherent to seniority in hierarchy to boost their moral for higher productivity
“Further more, we have been able to introduce Central Billing System and Automated Taxation to reduce leakages in revenue collection”
He expressed the readiness of KGIRS to continue to partner Journalists in publicising its activities
He also expressed the hope that the new Nigeria Revenue Tax Act which will become operational in January next year would benefit Kogi State tremendously.
“The new law harmonizes all tax acts into single document to reduce double taxation” Enehe explained.
He appealed to the people of Kogi State to embrace prompt payment of their taxes to enjoy more dividends of democracy and development of the state at large.
“However, the greatest challenges of KGIRS have been that of obstacles in enforcement of taxation laws and reluctant on the part of tax payers to live up to their responsibility in tax payment”
Earlier, the Chairman of the Correspondents’ Chapel of the Nigeria Union of Journalists NUJ, Kogi State Council, Segun Salami had informed the Executive Chairman and his management team that the Stewardship Forum was put in place to enable the elected and appointed leaders showcase their achievements and challenges to justify people’s mandate in service delivery.
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