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Nigeria’s top lawyer pledges to follow the rules

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Fagbemi says he will operate an open door policy and welcome constructive criticism.

Lateef Fagbemi (SAN), the new Attorney-General of the Federation (AGF) and Minister of Justice, says he will anchor his leadership on President Bola Tinubu’s renewed hope agenda.

Fagbemi said this as he resumed as Nigeria’s 24th Attorney-General, succeeding Abubakar Malami, who served in President Muhammadu Buhari’s regime for eight years on Monday in Abuja.

He noted that although expectations are high, he expressed readiness to work with the staff and added that he will operate an open door policy and welcome constructive criticism.

"We will anchor everything on Mr President’s renewed hope agenda.

"Considering the strategic role that our ministry is positioned to play, I want you to partner with me, follow the rule, engage in constructive criticism, so that together we can redouble efforts and get the job done," he said.

Responding, Beatrice Jeddy-Agba, the Permanent Secretary and Solicitor General of the ministry, in her remarks noted that the ministry’s constitutional responsibilities and statutory mandates are enormous.

"We will deploy all the human and material resources of the ministry and its parastatals to support and assist you in realising your set objectives," she said

The News Agency of Nigeria (NAN) reports that Fagbemi arrived at the ministry at 3:10 pm and was received by the Solicitor-General of the Federation and Permanent Secretary,

He was conducted round his office by the permanent secretary who introduced him to all the directors and heads of agencies under the ministry.

Some of the heads of the agencies under the ministry that were present include Buba Marwa, chairman, National Drug Law Enforcement Agency (NDLEA) and Tony Ojukwu, executive secretary, National Human Rights Commission (NHRC).

Senator Adeola accuses Nigerian soldiers of murdering aide

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Senator Solomon Adeola, popularly known as Yayi, the Chairman of the Senate Committee on Appropriations, has accused Nigerian soldiers of killing his senior aide, Mr Adeniyi Oluwatoson Sanni at a checkpoint in Lagos.

Mr Adeola said soldiers perpetrated the act tragic around the Ikeja neighbourhood early on Saturday, August 5, 2023.

The Senator’s allegation is contained in a statement he signed and made available to THISDAY in Abuja on Monday.

Mr Adeola said that his aide Mr Sanni was stopped at a checkpoint by security agents around the Ojodu-Berger area of Lagos on his way to his home at Isheri.

The senator said that the soldiers asked his late aide to provide his vehicle particulars and that he was able to provide them after his wife sent them to him on his phone via WhatsApp.

Mr Adeola said that when Mr Sanni’s wife called a while later, Sanni told her that he was still with the soldiers and that they were checking the documents.

Sanni’s remains, ridden with bullets, were later discovered at the Toyota Bus Stop area of Oshodi, close to a military barracks.

Mr Adeola said, “I am of the firm belief, based on available facts at the disposal of the police that his aide was killed by a syndicate of soldiers operating under the newly deployed Commander of 9 Brigade, Ikeja Cantonment of the Nigerian Army, Brigadier General Nsikan John Edet, through mounting of checkpoints and robbing of lone occupants of cars.

“Top police sources familiar with the investigation informed me that a similar brutal killing and armed robbery occurred around the same Ojodu-Berger late Thursday night of August 17, 2023, resulting in the killing of another Nigerian whose body was discovered around Iyana-Ipaja after he was taken away by soldiers from the checkpoint.

"Unknown to the soldiers, the occupant of the car they killed and took away his car was the second car in a convoy of two heading towards the same destination.

“The first car passed the soldiers checkpoint but the second car was stopped to check his vehicle’s papers.

“On noticing the absence of the second car after a while, the occupant of the first car (name withheld) placed a call to his colleague in the second car who informed him that he was being taken to Iyana Ipaja by the soldiers at the checkpoint.

"That was the last he heard from him and his dead body was later discovered dumped on the road just like Mr. Sanni.

“The survivor in the first car reported the case to the police and a pattern of armed robbery and killing in the area involving men in Army uniform was established.”

Mr Adeola asked the Chief of Army Staff, Maj. Gen. Taoreed Lagbaja, to find the soldiers who killed his aide so that they can be brought to justice.

The senator said that such killings and armed robbery incidents have been established against soldiers at checkpoints around Ikeja at night.

“To date, the black Toyota Camry of Mr Sanni, his phones and other valuables are yet to be recovered,” he added.

GTBank Releases 2020 Full Year Audited Results…Reports PBT of ₦238.1 Billion

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Guaranty Trust Bank plc has released its Audited Financial Results for the year ended December 31, 2020, to the Nigerian and London Stock Exchanges.

A review of the result shows improved performance across all key financial metrics in the face of the unprecedented challenges brought on by the COVID-19 pandemic, reflecting the quality of past decisions and reaffirming its position as one of the best managed financial institutions in Africa. The Group reported Profit before tax of ₦238.1billion, representing a growth of 2.8% over ₦231.7billion recorded in the corresponding year ended December 2019. The Group’s Loan book (Net) grew by 10.7% from ₦1.502trillion recorded as at December 2019 to ₦1.663trillion in December 2020, while Customers’ deposits increased by 38.6% from ₦2.533trillion in December 2019 to ₦3.509trillion in December 2020.

Guaranty Trust Bank’s Balance sheet remained well structured, diversified, and resilient with Total assets and Shareholders’ Funds closing at ₦4.945trillion and ₦814.4billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 21.9%, while Asset quality was sustained as NPL ratio and Cost of Risk (COR) closed at 6.4% (Bank: 5.9%) and 1.2% (Bank: 1.0%) in December 2020 from 6.5% (Bank: 6.2%) and 0.3% (Bank: 0.2%) in December 2019 respectively.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “2020 was arguably the most challenging year that the world has faced in decades. In such unprecedented times, we sought to live out the full extent of our values; safeguarding lives and livelihoods for our people, our customers, and across the communities where we operate. We were on solid footing going into 2020; the strength, scale, and liquidity of our balance sheet, coupled with the quality of our past decisions and the efficacy of our digital-first customer-centric strategy gave us the resilience and flexibility to navigate the economic shocks and market volatility that dominated the year.”

He further stated that; “Amidst the many challenges that persist, we remain ardent believers in Africa’s growth potential. Our world is increasingly digital, and we see it opening new and exciting opportunities for empowering people and uplifting our communities. With our commitment to deepening customer relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned to lead this new world.”

Guaranty Trust Bank plc continues to post the best metrics in the Nigerian Banking industry in terms of all Financial Ratios i.e. Post-Tax Return on Equity (ROAE) of 26.8%, Post-Tax Return on Assets (ROAA) of 4.6%, Full Impact Capital Adequacy Ratio (CAR) of 21.9% and Cost to Income ratio of 38.2%.

Renowned for its forward-thinking approach to financial services and customer engagement, GTBank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey, and ranking of the Top 100 admired brands in Africa. The Bank was also awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.

GTBank Champions Access to Health Insurance for Women on International Women’s Day

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As the 2021 International Women’s Day (IWD21) calls on people and organizations to #choosetochallenge for a better world for women, Guaranty Trust Bank plc (GTBank) has launched an initiative, tagged #GiveHerBetaHealth, to draw attention to the need for universal essential healthcare coverage, especially for women in the informal sector. Through the initiative, the leading African financial institution is providing 1000 self-employed women with BetaHealth for a year, at no cost.

Launched in 2020, BetaHealth is a low-cost healthcare package that provides coverage for essential health services such as malaria treatments, pre, and postnatal care, accidents, and medical emergencies as well as life insurance, all at a subscription fee of N500 per month. Offered through more than 1000 hospitals and pharmacies nationwide, BetaHealth also provides a telemedicine service that allows the user to speak with a doctor over the phone anytime, anywhere.

With the #GiveHerBetaHealth campaign, the Bank is calling on the general public to nominate 1000 women who will be given free BetaHealth coverage for a year. To nominate a woman, visit giveherbetahealth.gtbank.com.

#GiveHerBetaHealth is the latest in a long line of GTBank initiatives that reflects the Bank’s commitment to extending access to critical services for everyone, irrespective of their social or economic background. The campaign focuses on empowering self-employed women in the informal sector, many of who have limited or no access to financial services and health insurance. With this campaign, the Bank is putting a spotlight on the need for universal access to essential healthcare services that is affordable for every working Nigerian, and accessible across the country.

BetaHealth is available for everyone. To buy BetaHealth for yourself or someone else, simply dial *737*52*500*50# from your mobile phone.

Court sets August 23 date for FBN Holdings contempt suit

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The Federal High Court sitting in Lagos Wednesday adjourned till August 23 to hear a motion seeking to commit FBN Holdings Plc officials to prison for alleged contempt of court.

The motion, filed by three aggrieved FBN Holdings Plc shareholders, alleges that the firm held its Annual General Meeting (AGM) on Tuesday, August 15, despite an order of court specifically restraining it from proceeding with the AGM.

Justice Nicholas Oweibo had on August 14 warned FBN Holdings’ Group Managing Director, Nnamdi Okonkwo, not to disobey the order restraining it from holding its AGM.

The shareholders/applicants in the suit marked FHC/L/CP/1575/23, are Olojede Adewole Solomon, Adebayo Oluwafemi Abayomi, and Ogundiran Emmanuel Adejare.

At the resumption of proceedings Wednesday counsel to the Plaintiffs Dr. Muiz Banire (SAN) informed the court that the defendants were “in flagrant disobedience” of the court order.

He said an affidavit of facts, stating the particulars of the disobedience had been filed.

But FBN’s counsel Mutalubi Ojo Adebayo (SAN) informed the court that he had filed a motion seeking to discharge the order.

Adebayo, a former Oyo State Attorney-General and Commissioner for Justice, prayed the court for an adjournment.

Another counsel, Ebun-Olu Adegboruwa (SAN) also filed a motion for joinder as co-plaintiff to ventilate the right of his client who had a similar complaint.

Justice Oweibo adjourned the case to Wednesday 23 August for hearing of the motion for disobedience.

Attached to the petitioners’ affidavit is an August 14 notice purportedly signed by FBN’s Acting Company Secretary Adewale Arogundade explaining why the company went ahead with the AGM.

The letter was titled “Notification on conduct of Annual General Meeting of FBN Holdings Plc.”

It notified the public and the firm’s stakeholders that FBN Holdings Plc was served with an ex parte order of interim Injunction on Friday, August 11, 2023, restraining it from proceeding with the proposed Annual General Meeting (AGM) as scheduled for August 15, 2023.

FBN added: “We confirm that our lawyers have filed and served on the Petitioners the necessary processes and notice of appeal challenging the said order and seeking that same, as well as the entire proceedings be set aside, paving way for the AGM to proceed on August 15, 2023, as earller scheduled, Including but not limited to:

“A Notice of Appeal against the decision of the Federal High Court to grant the ex-parte order;

“A Motion on Notice for an order to stay and/or suspend the execution of the ex-parte order as well as to stay further proceedings In the Sult pending the hearing and consequent determination of the Appeal filed at the Court of Appeal.

“In the light of the foregoing, the Company believes that It can proceed and Is Indeed proceeding with the AGM (which is a statutory meeting) as scheduled on August 15, 2023.

“The AGM shall be conducted in accordance with the applicable laws and regulations, and the Company will continue to take all legal steps to prosecute its appeal against the ex parte interim order with a view to securing its vacation as well as the setting aside of the proceedings in its entirety.”