Business and Economy
Easing Lockdown: How Greedy GTB Workers Demand Money From Customers To Gain Entrance Into Banking Hall![Exclusive Video]
Once beaten, twice shy. This very common but important words may have defined the reasons why a handful of Nigerians most especially customers of financial institutions trooped out in their large numbers to storm the banks in order to rectify their accounts in one way or the other. adsbygoogle || []).push({}); [adrotate banner="51"]
According to a privileged information made available to us, this move was necessarily taken by the people to guide against yet another sudden pronouncement of a nationwide stay at home order by the presidency which hit them unprepared.
The last two months have, therefore being those of a painful experience of brutal hunger, gnashing of teeth and visible regret of no preemption. It was indeed almost 60 days of abject poverty or what could simply be defined as an impromptu financial colonization. Save for the humanitarian and philanthropic gestures of some kind-hearted compatriots who benevolently gave out relief packages like food items and cash, Nigeria could have recorded an amazing death rate not basically from the rampaging corona virus but from what the people termed as death virus.
Yes, many lives would have been lost if not for some of these God-sent individuals who voluntarily ignored donating their cash to the federal government but made them available to vulnerable Nigerians. However, one of the banks that has greatly benefitted from the Nigerian populace since its establishment more than two decades ago suddenly and in a show of errant wickedness turned its back on its benefactors and bit the fingers that fed it. The bank is none other than Guarantee Trust Bank popularly called GTB. This bank founded by retired banker, Fola Adeola and late financial guru, Tayo Aderinokun added salt to the injuries already sustained by Nigerians during the Covid ’19 lockdown.
It was a sour tale left to be told by customers of the Herbert Macaulay, Alagomeji Yaba, Lagos branch of the bank who trooped to the premises on Tuesday, the 5th of May, 2020 expecting the bank to give them a friendly treatment but were left aghast and flabbergasted as staff of the bank including the security officers connived to add more to their customers’ painful tales. It was confirmed by our reporters that the customers were forced by the security guards at the said Alagomeji branch to part with a sum of N1000 before they could be ushered in for attention. This, we gathered was with the knowledge of the workers in the banking hall including the branch manager.
We also scooped that customers were coerced to stand or sat in the scorching sun with the deliberate snail movement level at which the bankers attended to customers which paved way for the accumulation of more people in the bank’s premises. In a thorough investigation conducted by our reporters, we gathered that the bankers at the Alagomeji branch of GTB have suddenly turned themselves to semi gods by displaying unnecessary wickedness to their own customers many of whom want to get some money available to combat the hunger effect of another possible lockdown as may be announced by President Muhammadu Buhari towards the weekend. The entire situation was so disgusting to an extent that the security personnel at the bank ignorantly asked our reporter, a journalist to part with 1000 to be able to cover the ugly scenario as summoned by the angry customers of GTB, Herbert Macaulay, Alagomeji Yaba branch.
The video covered as regards this event is available on HCS TV, youtube channel. Definitely, it is obvious that all those working in the Herbert Macaulay, Alagomeji, Yaba branch of GTB are criminals and undeserving elements handling the finances of innocent and hard working Nigerians. This is therefore a clarion call to the Central Bank of Nigeria and other stakeholders to look critically into this financial mess perpetrated by GTB staffers before it gets out of hand.
This is the link to the video by HCS TV:
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Business and Economy
Nigeria’s Recapitalised Banks Position as Engines of $1 Trillion Economy at London Capital Forum
By AbdulRahman Obaje
With 32 banks meeting new capital requirements and 72 per cent of funds raised domestically, Nigeria’s banking sector emerges from its most significant reform cycle as the primary engine of the country’s capital mobilisation agenda
LONDON — When Nigeria’s banking recapitalisation exercise was announced, the debate centred largely on compliance: which banks would meet the threshold, and by when.
[adrotate banner="51"] At The Africa Capital Forum’s inaugural convening in London on Tuesday, the conversation had moved on entirely. The question was no longer whether Nigeria’s banks could recapitalise. It was what a recapitalised Nigerian banking sector could now do for a $1 trillion economy.
The answer, according to the chief executives who gathered at The Peninsula London alongside President Bola Ahmed Tinubu’s UK state visit, is considerable.
Akin Ogunranti, Executive Director of Zenith Bank, set the tone early. “We need to give ourselves credit,” he told delegates. “The fact that over 72 per cent of the capital was raised locally is a major milestone.” That figure carries weight beyond optics. It signals that Nigerian capital markets are deepening, that domestic investors have confidence in the banking sector’s trajectory, and that the foundation for long-term growth is being built from within.
CBN Governor Olayemi Cardoso was direct about what the sector has become. “We are very proud of what the Nigerian banks have been able to accomplish,” he said. “They play a dominant role on the African continent and in the United Kingdom. They are our ambassadors.” Thirty-two banks have now met the CBN’s new capital requirements, and Cardoso described the system that has emerged as categorically different from what preceded it. “The financial system we had is dead and buried. What we have now is a new system that has brought liquidity and transparency.”
The implications for the broader economy were spelled out across the afternoon’s sessions. Yemisi Edun, Managing Director of First City Monument Bank, noted that recapitalisation had directly expanded the credit available to businesses: “The raised capital has created expansion of credits. The new recapitalisation has given more credibility to what we can do as industries.” Segun Alebiosu, Managing Director of First Bank, made the international dimension explicit. “With currency reforms, Nigerian banks will be able to take home bigger transactions. We can do more, and crowd new investments.” He added that Nigerian banks today maintain at least seven operations in the United Kingdom alone.
The scale of Nigerian banking’s continental footprint was perhaps most vividly illustrated by Oliver Alawuba, Group Managing Director of UBA, who noted that over 65 per cent of the bank’s revenue now comes from outside Nigeria. “That means that we can do more in Africa,” he said.
That outward reach is not incidental to the $1 trillion economy agenda. It is central to it. Miriam Olusanya, Managing Director of Guaranty Trust Bank, pointed to the restoration of correspondent banking relationships as a structural shift: “The confidence has been restored and corresponding banking relationships will continue to grow.” Those relationships determine Nigeria’s ability to facilitate cross-border trade, attract foreign investment, and participate in the global capital markets at the scale a $1 trillion economy requires.
Sanyade Okoli, Special Adviser to the President, framed the government’s position plainly: “The government alone cannot fund this growth. We need to work with partners who will bring the sticky, equity capital.” A recapitalised, internationally credible banking sector is how that partnership becomes possible.
Governor Cardoso closed by placing the banking sector’s transformation within its broadest context. “This is perhaps the first time in many years that we’ve had this level of consistent stability,” he said. “And it is likely to stay on course.”
The Africa Capital Forum was convened by the Central Bank of Nigeria in partnership with the UK Foreign, Commonwealth and Development Office and hosted by BBC News Presenter Lukwesa Burak. It was supported by Access Bank, FCMB, First Bank, Goldman Sachs, GTCO, J.P. Morgan, Nigerian Exchange Group, UBA, and Zenith Bank.
The Africa Capital Forum is an independent institutional convening platform dedicated to advancing strategic dialogue on capital mobilisation, financial system development, and investment into Africa. The Forum convenes senior leaders from global financial institutions, development finance organisations, central banks, and the private sector to examine the policy and market conditions shaping Africa’s economic trajectory.
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- Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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Ododo Lauds Tinubu Over Public Finance Reforms, As Chief Ibori Commissions Kogi Audit House
From Joseph Amedu, Lokoja
Kogi State Governor, Alhaji Ahmed Usman Ododo has commended President Ahmed Bola Tinubu, for his visionary leadership and steadfast commitment to strengthening governance systems across the country through public finance reforms.
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The Governor who stated this on Tuesday during the official commissioning of the Kogi State Audit House, said the ongoing national reforms in public finance management, institutional accountability, and economic restructuring under his administration have created an enabling environment for states to execute impactful projects that strengthen transparency and improve service delivery.
“We remain fully aligned with the Renewed Hope Agenda and deeply appreciate the support extended to sub-national governments.
Governor Ododo also acknowledge and commended Chief James Onanefe Ibori, former Governor of Delta State, who he described as a respected statesman and distinguished son of Niger Delta, for presence to commission the Audit House.
Speaking further on Chief Ibori, the governor said “Your contributions to governance, leadership, and national development continue to inspire many of us, and we are deeply grateful for your solidarity with the Government and people of Kogi State on this historic day.
“I therefore use this opportunity to specially welcome our visiting dignitaries, Auditors-General from across the Federation, party leaders, members of civil society organizations, development partners, and all friends of Kogi State who have honored us with their presence today.
“Your participation underscores the national significance of this event and the shared responsibility we all bear in strengthening democratic accountability and public sector performance in Nigeria.
“As we mark this commissioning, let this facility serve not only as an administrative center, but as a symbol of our collective resolve to uphold integrity, professionalism, and transparency in the management of public resources.
“It should also stand as a model and inspiration to other states to invest deliberately in institutional frameworks that support effective oversight and responsible governance.
“In conclusion, I reaffirm the commitment of my administration to building systems that protect public interest, strengthen public institutions, and promote inclusive development. The Kogi State Audit House represents a major step in that direction.
“It is therefore my honor and privilege, with gratitude to Almighty God and in recognition of his distinguished service to our nation, to invite His Excellency, Chief James Onanefe Ibori, former Governor of Delta State, to kindly perform the official commissioning of the Kogi State Audit House. The governor said.
While commissioning the edifice, Chief Ibori commended the the Kogi State Governor, Alhaji Ahmed Usman Ododo for his effort in promoting accountability and transparency in governance through institutional support.
He called on the people of the state to continue to support the programmes and vision of the Governor Ododo administration, saying that this will enhance all round development of the state.
“Let me commend Governor Ododo for his effort in promoting accountability and transparency in governance. I therefore called on all citizens of the state to continue to give their support to the administration, which will enhance all round development of the state.
Speaking earlier, the Auditor General of Local Government, Alhaji Yakubu Adabenege, noted that the commissioning of the Audit House was a dream come through.
Speaking further he said “Someone may ask why the audit house at this time. I have to tell the story for your record and for history. What you are seeing here today is beyond an ordinary building, it’s God’s own project, it is a dream come true.
“From this Audit House, we promise to put our body and soul to support your administration to achieve all its set goals. We shall follow every kobo, every resource deployed to its final intended destination, for you to leave many more lasting legacies for our dear Kogi State. He stressed
In his remarks, the Commissioner for Housing and Urban development, Hon. Taiye Abanika, noted that the Audit House stands as further proof of the Governor’s promise to support critical institutions with the needed infrastructures to enable them perform their responsibilities effectively.
He said It also reflects the governor’s firm belief that accountability and good governance can function effectively, if they are properly equipped and empowered.
“I sincerely appreciate the Governor for his trust in us and for his consistent support in the execution of this and all other projects across the state.
Author Profile
- Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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Nupe Natives Of Lokoja Flags Off Cooperative Union To Facilitate Development
From Joseph Amedu, Lokoja
Nupe Natives of Lokoja, has flagged off its CAMPDAVID MULTIPURPOSE COOPERATIVE UNION LIMITED registered with the Kogi State government, aimed at facilitating the development of the community of the native Nupe of Lokoja and her entire residents.
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Twelve other Cooperative Societies are registered to operate under the umbrella union which was launched in Lokoja over the weekend.
The Etsu Lokoja and Chairman, Lokoja Native Traditional Council, His Royal Highness, Emmanuel Akamisoko Dauda Shelika – Nyamkpa IV, performed the flag off ceremony during the first General Meeting of Nupe Natives of Lokoja in 2026, organized to showcase their culture and had interactions on how to attract development to their community.
The Royal Father in his speech, said that the Cooperative Union and its other sub-societies would no doubt facilitate people’s zeal to embark on self-help development that would impact on their living standards.
According to the traditional ruler “The newly registered cooperative societies would serve as veritable tools with which our people could utilize to generate funds to enable them embark on self-help projects such as drilling of motorized boreholes for portable water supply, rural electrification and health clinics amongst others.
“The need to complement government’s efforts in the provision of basic infrastructure for improved living conditions of citizens cannot be over emphasized, hence our desire as a people to do the needful”
The Etsu Lokoja used the occasion to call on the younger generation of the community to embrace skills acquisition of vocational enterprises such tailoring, welding, fabrication, carpentry, plumbing, hair dressing and farming among others for self-reliance.
He also disclosed his community’s planned programmes for this new year to include; facilitating of Summer Studies, Medical Outreaches for the less privileged, cultural and political summits.
He commended Governor Ahmed Usman Ododo of Kogi state for his passion to carry everybody along in his development programmes irrespective of political, ethnic and religious differences.
He reiterated the loyalty of his people to the present administration in Kogi state and assured that the tempo would be sustained.
Author Profile
- Prince Abdulrahman Obaje is a Media, Information and Computer Technology Consultant. A quintessential Journalist, online marketer, social media strategist, Mathematician and Computer Scientist is based in Abuja, Nigeria. He is the Founder and the Publisher of The Informavores!. You can reach me on +234 805 939 5252 or send i-witness report directly to me on news@informavores.com.ng.
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