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GTCO PLC Announces Successful Completion of the 1st Phase of Its Equity Capital Raise Programme; Raises ₦209 Billion 

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Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful completion of the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment of the Offer by the Securities and Exchange Commission (SEC).

 

The Offer, which garnered substantial interest from domestic retail investors, raised a total of ₦209.41 billion from 130,617 valid applications for 4,705,800,290 Ordinary Shares, fully allotted. This milestone concludes the first phase of GTCO’s phased equity capital raise programme, which is structured on a balanced allocation strategy based on an equal split between institutional and retail investors. This balanced approach aligns with GTCO Plc’s commitment to fostering a well-diversified and robust investor base.

 

Commenting on this phase of the recapitalization exercise, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, expressed his gratitude: “We extend our sincere appreciation to our new and existing shareholders, as well as the regulatory authorities, for their unwavering support during this initial phase of our equity capital raise. The strong participation and successful capital verification exercise and allotment process reaffirm the confidence investors have in our fundamentals and execution capabilities. This sets a solid foundation for accelerating our strategic roadmap, which aims to pivot the Group for transformational growth and unlock greater value across the Group’s Banking and Non-Banking businesses.”

 

GTCO Plc continues to lead its peers in key profitability metrics and financial performance. Building on this successful first phase, the Group will commence the second phase of its recapitalization plan in 2025, which is strategically positioned to attract significant foreign institutional investments, reinforcing its reputation as a “Truly International” financial services brand.

 

Proceeds from the combined equity raise will be strategically deployed to recapitalize the Group’s flagship subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), enhancing its ability to meet regulatory requirements and further solidify its position as a leading financial institution. Additionally, the funds will support Group-wide growth initiatives, including footprint expansion, product enhancement, and innovation across both Banking and Non-Banking subsidiaries. GTCO remains committed to delivering sustainable value to its stakeholders and driving innovation across the financial services landscape in Africa.

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FULL LIST: Japa, agbero, eba, 17 other Nigerian words added to Updated Oxford Dictionary…

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The Oxford English Dictionary has expanded its lexicon with 20 Nigerian words and expressions in its latest update.

 

The newly added entries include popular terms like “japa,” “agbero,” “eba,” “419,” and “abi,” among others.

 

These words, deeply rooted in the everyday lives of Nigerians, highlight the influence of Pidgin English, street slang, and cultural expressions that are increasingly gaining global recognition.

 

Notably, some of the words, such as “japa” and “jand,” appear as both nouns and verbs in the dictionary.

 

 

Pronunciation guides have also been provided to assist non-Nigerians in accurately articulating the words.

 

A Nigerian English consultant to the Oxford English Dictionary, Kingsley Ugwuanyi, announced the update on LinkedIn on Tuesday.

 

He expressed excitement over his role in drafting the words and recording their pronunciations.

 

 

Ugwuanyi wrote, “I’m thrilled to announce that the Oxford English Dictionary (OED) Oxford Languages | OUP has officially published its latest updates, featuring an amazing collection of Nigerian English words that beautifully reflect Nigeria’s culture, creativity, and the unique ways we express ourselves as Nigerians.

 

“This time, I not only drafted most of the words but also had the incredible opportunity to provide their hashtag#pronunciations! So, when you explore the OED online and click on the pronunciations, you’ll hear my hashtag#voice bringing these words to life.”

 

Among the entries, “japa” is defined as “the emigration of Nigerians to other countries (esp. those in Europe or North America) in search of further education, employment, or economic opportunity.”

 

 

“Agbero” is described as “a person (usually a boy or young man) who works as a tout, typically at car parks and bus stops, collecting money from passengers and drivers, and ushering passengers onto vehicles. ”

 

The term “419,” widely known in Nigeria, is defined as, “Fraud (now usually perpetrated on the internet) involving requests for advance payment in return for a substantial share of a large amount of money, which ultimately is never given. Frequently as a modifier, as in 419 email, 419 scam, etc. Cf. yahoo n.2”

 

Here is the complete list of Nigerian words added to the OED:

 

1. 419

 

2. . abi

 

3. adire

 

4. agbero

 

5. area boy

 

6. cross-carpet

 

7. cross-carpeting

 

8. eba

 

9. Edo

 

10. gele

 

11. jand (noun, verb)

 

12. janded (adjective)

 

13. Japa (noun, verb)

 

14. Kanuri

 

15. Kobo

 

 

16. Naija

 

17. suya

 

18. Yahoo

 

19. yahoo boy

 

20. Yarn Dust

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Viral Video: Teacher arrested for physically abusing three-year-old boy

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The Lagos State Domestic and Sexual Violence Agency has confirmed the arrest of a teacher following a viral video showing the suspect allegedly physically abusing a three-year-old boy at a school in Ikorodu.

 

The announcement was made in a statement shared on X (formerly Twitter) on Wednesday.

 

The video, shared by Oyindamola, who identifies as #dammiedammie35, captured a female teacher slapping the child’s face.

 

The video was captioned, “Footage from Christ-Mitots School in Ikorodu, a teacher named Stella Nwadigo was witnessed mistreating and physically abusing a three-year-old boy, Abayomi Micheal.

 

 

The footage has raised serious concerns about the safety and well-being of our little ones in school.”

 

Reacting to the incident, the Lagos DSVA issued a statement expressing gratitude to those who brought the video to their attention.

 

The statement reads, “We appreciate everyone who brought the disturbing incident of a teacher who was recorded physically abusing a 3-year-old boy to our attention.

 

 

We are pleased to inform the public that the teacher in question has been arrested by Owutu FSU, and an investigation has commenced in earnest.

 

The agency reiterated the state government’s commitment to protecting children, emphasizing that schools must be safe and nurturing spaces.

 

The statement added, “Indeed, institutions of learning should be safe, warm, and protective environments for all children in their care.

 

The State Government remains committed to ensuring the safety and well-being of every child by enforcing strict regulations, holding offenders accountable, and working with stakeholders to promote a zero-tolerance policy for abuse in any form.

 

 

 

 

 

 

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DHQ confirms death of six soldiers, 34 terrorists in Borno clash

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The Defence Headquarters on Wednesday said over 34 terrorists and six troops lost their lives during a fierce encounter in Sabon Gari village, Damboa Local Government Area of Borno State, on January 4, 2025.

According to a statement by the Director, of Defence Media Operations, Major General Edward Buba, the Islamic State of West Africa Province and Boko Haram terrorists, had launched an attack on troops stationed in the area to retaliate against the recent killing of their commanders and other combatants by troops.

Buba said the insurgents, riding on motorcycles and gun trucks, were met with stiff resistance when a patrol team returning to base foiled their planned ambush.

He said, “On January 4, 2025, an unspecified number of ISWAP/BHT terrorists riding on motorcycles and Gun trucks engaged troops deployed in Sabon Gari village of Damboa Local Government Area of Borno State in a firefight. The terrorists had attempted to surprise troops and retaliate against the recent killing of their commander and combatants by troops.

Recall that PUNCH Online reported that terrorists linked to the Islamic State West Africa Province killed six soldiers in a raid on the Forward Operating Base located in Damboa Local Government Area of Borno State, two military officers told AFP on Monday.

“The terrorists were taken unaware when troops fighting a patrol returning to base foiled their planned attack as soon as the attack commenced. Additionally, the troop’s reinforcement team comprising elements of the Civilian Joint Task Force, vigilantes as well and hybrid forces timely arrived at the scene to overpower the terrorists.

“Furthermore, although troops’ reinforcement team encountered an Improvised Explosive Device injuring the Vigilante Commander. The reinforcement team arrived in time to decimate the fleeing terrorist. “

Buba added that the Air Component of Operation HADIN KAI conducted air interdictions on the fleeing terrorists, noting that a battle damage assessment carried out confirmed the elimination of 34 terrorists and the recovery of 23 AK-47 rifles, over 200 rounds of 7.62mm ammunition, and other weapons.

Buba said, “Furthermore, the air component of Operation HADIN KAI conducted air interdiction on the fleeing terrorist. Battle Damage Assessment revealed several killed terrorists and recovered weapons.

“On the whole, 34 terrorists were killed and 23 AK 47 weapons were recovered. Troops also recovered with over 200 rounds of 7.62mm special ammunition. Sadly, six personnel were killed in action.”

He, however, said the names of the deceased troops have been withheld pending the notification of their next of kin, urging the media to cooperate with them as regards this.

“Kindly note that the names of killed in-action personnel are withheld to allow administrative procedures of notifying their Next of Kin to be concluded. Accordingly, the media is requested to respect the process, please,” Buba said.

He reaffirmed the commitment of the Armed Forces to ending insurgency and terrorism in the nation, stating that troops remain resolute in their mission to defeat the terrorists

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