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GTBank Named Best Bank in Africa at Euromoney Awards

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…Also emerges Best Bank in Nigeria for a record 9th time

Foremost African financial institution Guaranty Trust Bank plc has been named the Best Bank in
Africa 2019 by Euromoney at its annual Awards for Excellence, which held in London on
Wednesday, July 10, 2019 at the London Hilton Hotel, Park Lane. GTBank was also named the
Best Bank in Nigeria for a record ninth time, reflecting the Bank’s position as one of the best
managed financial institutions in the country, with strong and focused leadership that keep the
business in a constant state of re-invention and innovation.
Now in its 50th year, Euromoney is the leading publication for covering the growth of international
finance. Euromoney's Awards for Excellence are the awards that matter to the banks and
bankers who matter. This year, Euromoney received almost 1,500 submissions from banks in an
awards programme that covers 20 global awards, more than 50 regional awards, and best bank
awards in close to 100 countries. The Magazine’s Awards for Excellence celebrates the best
banks around the world by recognizing institutions that have demonstrated leadership,
innovation, and momentum in the markets they operate. In selecting its award recipients,
Euromoney combines quantitative and qualitative data to honor institutions that have brought the
highest levels of service, innovation and expertise to their customers.
Key to the emergence of GTBank as the Best Bank in Africa and the Best Bank in Nigeria, is the
Bank's digital drive and its clarity of vision in reimagining the future of banks and banking. The
Euromoney awards also recognized GTBank's commitment to leading the future of banking as
well as its consistent long-term strategy led by a senior management team that abhors
complacency and keeps the business in a constant state of innovation.
Commenting on the Bank’s Euromoney awards, the Chief Executive Officer of GTBank, Segun
Agbaje, said; “We are delighted and proud to win the Euromoney Awards for Africa’s Best Bank
and Nigeria’s Best Bank. These awards reflect the progress we are making in delivering the best
banking experience that captures what customers want in the world of today and tomorrow. They
are also a testament to our leading role in driving world class corporate governance standards,
excellent service quality and innovation in Africa’s banking industry.
He further stated that; “At GTBank, we are passionate about building the bank of the future by
leveraging the best of technology to add real value to our customers’ lives, and these awards
illustrate the hard work and commitment of our staff, management and board towards achieving
this goal.
GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is
regarded by industry watchers as one of the best run financial institutions across its subsidiary
countries and serves as a role model within the financial service industry due to its bias for world
class corporate governance standards, excellent service quality and innovation.

News and Report

Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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