Shareholders of Guaranty Trust Holding Company Plc (GTCO) have praised the bank’s management for delivering a record total dividend payout of ₦12.76 per share for the 2025 financial year, the highest in Nigeria’s banking sector.

The commendation came during the company’s 5th Annual General Meeting (AGM), where investors also applauded GTCO’s financial performance and its compliance with the Central Bank of Nigeria’s ₦500 billion minimum capital requirement.

Why it matters

The payout signals strong financial health and investor confidence in one of Nigeria’s leading financial institutions.

It also reflects broader stability in the banking sector amid ongoing economic uncertainty, with dividend performance often seen as a key indicator of resilience and profitability.

Shareholders react

The President of the Nigerian Shareholders’ Solidarity Association, Chief Timothy Adesiyan, praised the board’s consistency.

“The board has demonstrated discipline to sustain its dividend payout to shareholders,” he said.

Similarly, the Chairman of the Pragmatic Shareholders Association of Nigeria (PSAN), Mrs Bisi Bakare, described the payout as historic.

“GTCO makes history as the first Nigerian bank to reward shareholders with ₦12.76 dividend payout,” she said, urging the management to sustain the momentum.

GTCO had earlier declared an interim dividend of ₦1.00 per share and a final dividend of ₦11.76, bringing the total payout to ₦12.76 for the year.

Company strategy and growth

Responding to shareholders, GTCO’s Chairman, Suleiman Barau, said the group’s transformation into a diversified financial services provider has strengthened its resilience.

“This diversification is not simply a structural change; it represents a strategic effort to build an institution that can serve customers more comprehensively while creating multiple engines of sustainable growth,” he said.

He added that diversification reduces risk and improves the company’s ability to withstand economic fluctuations.

“Maintaining a healthy balance sheet and strong credit practices is essential,” Barau noted.

Expansion and innovation

Group Chief Executive Officer Segun Agbaje highlighted 2025 as a pivotal year for the company’s expansion and digital transformation.

“Across our Banking, Payments, Asset Management, and Pension businesses, we leveraged data, digital tools, and operational insight to create frictionless experiences for our customers across Africa and the United Kingdom,” he said.

He also described GTCO’s listing on the London Stock Exchange as a major milestone.

“This historic achievement makes GTCO Plc the first financial services institution in West Africa to list its ordinary shares on the LSE’s main market,” Agbaje said.

Industry perspective

Analysts say GTCO’s performance reflects a growing trend among Nigerian banks to diversify income streams and expand globally.

The move into payments, asset management, and pensions aligns with industry efforts to reduce reliance on traditional banking revenue.

What’s next

Looking ahead to 2026, the company says it will focus on strengthening its ecosystem, deepening customer engagement, and leveraging technology.

“GTCO enters 2026 confident, resilient, and focused,” Agbaje said.

“Our ecosystem is stronger, our ambition greater, and our commitment unwavering.”

The Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Dr Ayodele Subair, says Lagos State’s strong tax performance and rising internally generated revenue are rooted in reforms introduced by President Bola Tinubu during his time as governor.

Subair made the remarks at a gala night marking the end of the 159th meeting of the Joint Revenue Board (JRB) in Lagos, where tax administrators from across Nigeria met to discuss improving revenue systems and compliance.

The meeting ran from April 20 to April 23.

Tinubu’s “autonomy reform” credited for tax success

Subair said the turning point for Lagos tax administration was the decision by then-governor Tinubu to grant operational autonomy to the LIRS.

He described it as a foundational reform that reshaped revenue generation in the state and influenced other parts of Nigeria.

“This story of taxation in Lagos was started seriously by our present President, Asiwaju Bola Ahmed Tinubu, who deemed it fit to give autonomy to the Lagos State Internal Revenue Service,” Subair said.

“His model is copied in most of the states in Nigeria… We are seeing the benefits of that vision.”

Tinubu, now President of Nigeria, is widely associated with Lagos State’s modern revenue structure, which many states have since attempted to replicate.

Why it matters: Taxes and development in Lagos

Subair linked Lagos State’s development achievements directly to improved tax compliance, saying public infrastructure projects are funded largely by taxpayers.

He noted that residents can now see visible results of their contributions, which he says is boosting voluntary compliance.

“All this would never have been possible without the good people of Lagos paying their taxes,” he said.

“There is a high level of correlation between the payment of taxes and development.”

He added that in many countries, high taxation is normal, stressing that Nigeria is still building a culture of voluntary compliance.

Sanwo-Olu’s administration highlighted

The LIRS boss also praised Lagos State Governor Babajide Sanwo-Olu for ongoing infrastructure projects, particularly in transport and urban development.

He pointed to the state’s expanding multimodal transport system, including rail, road, and water transport.

Subair said:

“Governor Sanwo-Olu is doing a great job. This administration is building the multimodal transport system… through the BRT, and then we have the ferry service.”

He also referenced upcoming projects, including electric ferries and the expansion of the Red Line rail project.

Industry voice: Compliance rising in Lagos

According to Subair, Lagos continues to lead Nigeria in tax compliance because residents can see the impact of government spending.

“In Lagos especially, tax compliance is moving at a much higher pace than that of the rest of the country,” he said.

“That is because people can see where their money is going.”

What happened at the 159th Joint Revenue Board meeting

The Joint Revenue Board meeting brought together top tax officials, including the Executive Chairman of the Nigeria Revenue Service, chairpersons of all 36 state internal revenue services, and representatives from key federal agencies.

These included the Federal Ministry of Finance, Nigeria Customs Service, Nigeria Immigration Service, and the Federal Road Safety Corps.

Delegates reviewed strategies for improving tax systems, compliance, and revenue generation across Nigeria.

Activities included committee sessions, technical discussions, and an excursion to key Lagos infrastructure projects such as the Blue Line Rail and Eko Atlantic City.

Key takeaway

Officials say Lagos’ revenue success reflects decades of reform, policy continuity, and visible infrastructure development—factors they believe are strengthening public trust in taxation.

The Nigeria Customs Service (NCS) and key stakeholders have called for stronger, clearer communication strategies to address food security and rising food prices in Nigeria.

The call was made during the 2026 Nigerian Public Relations Week (NPRW), held in Kaduna, where policymakers, communication experts and media professionals gathered to discuss how policy messaging affects public understanding and economic outcomes.

Nigeria’s Vice President, Kashim Shettima, and Kaduna State Governor, Uba Sani, attended the event, signalling high-level government interest in tackling food-related challenges.

Why it matters

Food inflation remains a major concern in Nigeria, affecting household incomes and access to basic nutrition.

Experts at the event said poor communication of government policies often worsens the situation, leading to confusion, mistrust, and misinformation.

They argued that when citizens clearly understand policies, they are more likely to support and comply with them.

‘Communication is critical to policy success’

Speaking during a high-level panel session, the National Public Relations Officer of the NCS, Abdullahi Maiwada, stressed that communication must be integrated into every stage of policymaking.

“Even at the implementation stage of any policy, communication is critical,” he said.

“Without clearly communicating these policies to the public, they may not achieve the desired impact. When people understand how policies affect them, they are more likely to align with them.”

He added that communication helps build trust and ensures policies addressing food supply and trade are widely accepted.

Experts link food inflation to climate, insecurity

Other panellists pointed to broader structural issues driving food inflation.

These include climate change, insecurity in farming regions, and disruptions in supply chains.

Bryiyne Chitsunge and communication expert Agnes Bassey said weak communication around these issues often fuels misinformation.

They called for more data-driven and solution-focused reporting by the media.

Customs strengthens communication capacity

The Nigeria Customs Service maintained a strong presence at the event, with more than 29 Public Relations Officers in attendance.

The participation reflects the agency’s effort to improve stakeholder engagement, particularly in areas such as trade facilitation and border management.

Observers say better communication from agencies like Customs could help clarify policies affecting food imports, tariffs, and supply chains.

Building trust beyond the conference

Beyond panel discussions, the event also focused on strengthening professional relationships.

A dinner hosted by the Customs PRO brought officers together in an informal setting to encourage collaboration and teamwork.

Assistant Comptroller-General Nsika Umoh described the bond among officers as “inspiring and family-oriented”.

Industry reactions

Communication professionals at the event said the discussions highlight a growing shift in public relations from information sharing to strategic influence.

Some media practitioners also noted that inaccurate or sensational reporting can worsen public anxiety about food shortages.

They urged journalists to prioritise accuracy and context in reporting economic issues.

What’s next

Stakeholders say the focus will now shift to implementing the ideas discussed at NPRW 2026.

This includes improving collaboration between government agencies, the media, and the private sector.

For ordinary Nigerians, the impact could be significant clearer communication may lead to better understanding of policies, reduced panic buying, and more stable food markets.