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GTBank Appoints 4 New Directors, 4 Others Retire

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Guaranty Trust Bank Plc has demonstrated its commitment to the sustenance of good corporate governance with the appointment of four new directors to its Board following the retirement of 4 current directors.
The institution has appointed Messrs Ibrahim Hassan, Olabode Agusto, Mrs. Stella Okoli (MON) and Engr. Adebayo Adeola as Non-Executive Directors. 
Until their appointments, the four new directors have distinguished themselves in various fields of human endeavor making significant contributions to the growth of the national economy.
Mrs. Stella Okoli OON, is founder and CEO of Emzor Pharmaceutical Industries Limited. A seasoned industrialist, she obtained her M.Sc. in Biopharmaceuticals from University of London Chelsea College in 1971 before setting up Emzor Chemists Limited in 1984 and successfully guiding it to become one of Nigeria’s leading Pharmaceutical Manufacturing Industry. She has attended numerous management courses at Harvard Business School, Insead France, IES Barcelona, Singapore Institute of Management and the Lagos Business School and, is currently the National Vice-President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture. She holds the National honour of Officer of the Order of the Niger (OON).
Mr. Ibrahim Hassan is a Petroleum Geologist and Entrepreneur with Masters in Oil and Gas Enterprise management. He is the Managing Director and CEO of Summit Energy Limited.
Engineer Adebayo Adeola holds Bachelors and Masters degrees in Engineering and brings to the Board, over 34 years experience in Engineering and Project Management at the highest levels. He is the founder and pioneer Managing Director of Comprehensive Project Management Services Ltd, a firm of project managers.
Similarly, Mr. Olabode Agusto brings to the Board of Guaranty Trust Bank, a wealth of experience that cuts across both the public and private sectors. A seasoned accountant, his experience of over 30 years spans various organizations including Price WaterHouse, Nigeria International Bank, Agusto & Co. Ltd whilst he also held various public positions including Director of the National Pension Commission, Member of the Central Bank of Nigeria Monetary Policy Committee and Director–General of the Budget Office of the Federation. He holds the National honour of Member of the Order of the Federal Republic (MFR).
These appointments come pursuant to the decision of the Guaranty Trust Bank Board to peg the tenure of Non-Executive Directors at 12 years in line with the Central Bank of Nigeria’s Code of Corporate Governance. This has seen 3 Non-Executive Directors, Messrs Victor Osibodu, Tokunbo Adesanya and Alhaji M. K. Jada resign from the Board. The current Chairman of the Board, Owelle G.P.O Chikelu, who has also served over 12 years on the Board, will however be retiring after the Annual General Meeting of the Bank, which is scheduled to hold on May 5, 2010. A new Chairman of the Board will be announced thereafter by the Bank.
With over 160 business offices in Nigeria and banking subsidiaries in Ghana, Sierra Leone, Gambia and the United Kingdom, Guaranty Trust Bank has over the years maintained a preeminent position as a major player in the Nigerian financial service industry through its consistent remarkable achievements. Among these achievements is its emergence as the first Nigerian bank to receive the International Standard Organization (ISO) 9001:2000 award of the Standards Organization of Nigeria (SON) in recognition of its quality management system and conformity with global best practice.
 
 


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Senate Gives Tinubu Nod to Borrow Fresh $6Bn

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Senate on Tuesday approved the fresh $6 billion loan request forwarded to the lawmakers by President Bola Tinubu.

Senate Gives Tinubu Nod to Borrow Fresh $6Bn

Lawmakers approved the fresh loan on the same date the request letter was read by Godswill Akpabio, senate president.

The Senate approved the loans following the presentation and consideration of the report by Senator Aliyu Wamakko, chairman, Senate Committee on Local and Foreign Debts.

President Tinubu had written to the Senate seeking approval to borrow a total of $6 billion to finance key government projects and address budgetary gaps.

The requests were contained in two separate letters addressed to Godswill Akpabio, president of the Senate, and read during Tuesday’s plenary.

In the first letter, the President requested approval to obtain a $5 billion loan from Abu Dhabi Bank.

According to the President, the facility will be used to cover the nation’s budget deficit and support debt financing, among other fiscal obligations.

The request forms part of the Federal Government’s efforts to stabilise public finances and sustain ongoing government programmes.

In a separate communication, Tinubu also sought approval to secure a $1 billion UK Export Finance loan facility from London Citi Bank.

The loan is intended for the rehabilitation of key port infrastructure, including the Lagos Port Complex and Tin Can Island Port.

The President said the project aims to address critical infrastructure deficiencies in the country’s maritime sector

According to him, the rehabilitation will help improve efficiency, enhance safety standards, and support Nigeria’s efforts to diversify its economy beyond oil.

He added that the initiative would also strengthen Nigeria’s position as a regional trade hub.

Both requests have now been considered and approved by the Upper Legislative Chamber.


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FG Earmarks $2Bn to Launch 2 Satellites in 2028, 2029

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Federal government has fixed 2028 and 2029 for the launch of two communication satellites, NIGCOMSAT-2A and NIGCOMSAT-2B, as part of efforts to strengthen security and expand digital connectivity.

FG Earmarks $2Bn to Launch 2 Satellites in 2028, 2029

The government will be committing over $22 billion on the ambitious space-led growth agenda focused on new satellite launches, increased industry revenue and expanded broadband access in underserved communities.

At the opening of the 2026 Nigerian Satellite Week in Abuja, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, confirmed the government’s approval for the acquisition of two new satellites—NigComSat 2A and 2B, describing the move as a “defining commitment” to national development, digital sovereignty and economic competitiveness.

Also, Mrs Jane Nkechi Egerton-Idehen, managing director of Nigerian Communications Satellite Limited (NigComSat), noted that the projects have moved beyond procurement to the execution stage.

She said the satellites are designed to enhance intelligence gathering, surveillance, and connectivity across Nigeria and neighbouring countries, particularly in support of security operations.

“For 2A and 2B, we have started the process. We have closed the tender and are now back into the financing and implementation stage. 2A is built to come up in 2028, and 2B for 2029.

“When they are up and running, they are expected to provide security within the borders and neighbouring countries. They will support the security agencies because data collection and intelligence in real time is important. Satellites like communication satellites allow that, irrespective of where they are,” she said.

On his part, Tijani, said the satellite programme forms part of a broader government strategy to deepen digital infrastructure nationwide.

According to him, the initiative complements ongoing investments in fibre-optic expansion and telecommunications infrastructure, while extending connectivity beyond Nigeria’s borders.

“The President’s approval of NIGCOMSAT-2A and 2B demonstrates a clear commitment to building the future. These satellites will enhance security, connect remote communities, and extend our fibre-optic network into neighbouring countries.

“Some of these neighbouring countries pay up to ten times more for internet capacity than Lagos. Extending our fibre network will not only improve connectivity but also enhance border security and regional collaboration.

“Satellite technology affects everything, from how a child in a rural community accesses the internet to how farmers make critical decisions and how businesses operate across distance,” he said.

 


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FG Launches CLHEEAN to Streamline Access to Government Services

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Federal government has announced the launch of CLHEEAN, an artificial intelligence-powered mobile application designed to improve interactions between citizens and public institutions.

FG Launches CLHEEAN to Streamline Access to Government Services

It is also a civic education and community engagement app.

Developed under the National Orientation Agency (NOA), the platform functions as a virtual assistant accessible via mobile devices.

It allows users to access information on public policies, ask questions, and interact directly with government services.

The app includes features such as instant messaging, voice recognition, and multilingual support, including several local languages, to reach a wider audience.

With CLHEEAN, users can also submit feedback, report concerns, and take part in discussions on public policies. The approach is intended to strengthen citizen participation and improve communication between the government and the public.

Lanre Issa-Onilu, director general of the NOA, said the initiative addresses a long-standing gap between citizens seeking to be heard and systems that do not always respond effectively, adding that the platform marks a step toward closing that gap.

The launch comes as Nigeria continues to face challenges in citizen engagement and the dissemination of public information.

By leveraging artificial intelligence, authorities aim to make public services more accessible while improving transparency and responsiveness.

The initiative also reflects a broader trend across Africa, where governments are increasingly exploring the use of AI to modernize public services and strengthen ties with citizens.


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