Business
FCT, Niger Shine at Nestlé MILO 2023 Basketball Championship
It was a dream come true for coach Emmanuel Biodun Tanko, head coach of Father O’Connell Science College, Minna, Niger State, as his team defeated their counterparts from Government Secondary School, Karu, FCT in the final of the boys’ category in the just concluded Central Conference of the MILO Basketball Championship.
According to Coach Tanko, his team lost to the same opponents last year in the same championship. On the team’s preparation on the road to victory this year, Coach Tanko said, “We had a 70-day period of training. During Ramadan, we were there. It is a testimony that hard work pays. Also, without God we would not have been able to achieve this feat.”
Captain of the winning team from Father O’Connell Science College, Minna, Niger State, Mahmood Mustapha Mohammed, thanked Nestlé MILO for supporting and sponsoring them. The young man who says his dream is to play with globally recognized stars in the National Basketball Association (NBA) one day, also said, “I want to give a big shout out to our parents and coaches for always being there for us and believing in us, trusting that we will come back with the trophy.”
The boys from Father O’Connell Science College, Minna, Niger State fought hard in a keenly contested encounter to defeat the boys from Government Secondary School, Karu, FCT with 53 points to 49. They were therefore crowned champions in the boys’ category at the Central Conference of the 23rd MILO Secondary Schools Basketball Championship held in Abuja from the 12th to the 19th of May 2023.
In the final game of the girls’ category of the championship, Government Secondary School, Karu, FCT defeated their counterparts from Queen Amina College, Kakuri, Kaduna State by 35 points to 24 points. Both Father O’Connell Science College, Minna, Niger State and Government Secondary School, Karu, FCT will represent the Central Conference at the national finals of the 23rd MILO Basketball Championship in Lagos in July.
Other teams who will be in Lagos for the national finals are winners from the already concluded Savannah Conference which held in Kano from the 3rd to the 10th of May and winners from the two upcoming conferences – Atlantic Conference in Asaba from 20th to 27th of May and Western Conference in Ibadan from May 30th to June 6th, 2023.
Category Manager for Beverages, Nestlé Nigeria, Mr. Olutayo Olatunji, reiterated Nestle’s commitment to developing talents, promoting healthier lifestyles, and instilling values for success in life through sports. “MILO, firmly believes that through participation in sports, children learn enduring values to help them achieve success
in life,” he said.
“We are therefore, pleased to have this opportunity to provide a platform where young talents find expression through MILO Secondary School Basketball Championship. On the field of play, the teams depend on the discipline, perseverance, courage, self-belief, and respect that they imbibe during practice and through their interactions with each other. These life skills are not only for basketball; they equip the players to navigate their careers and to be productive in society. In a nutshell, ‘the GRIT’ you learn in sport, you keep for life.”
Nestlé Nigeria’s MILO Secondary School Basketball Championship has been promoting the value of grit for over 23 years, helping schoolchildren learn essential life skills such as resilience, persistence, stamina, cooperation, and self-belief. These values enable them to overcome challenges and achieve their goals in life.
Nestlé continues to lead grassroot sports development in Nigeria through its MILO Basketball Championship, contributing to the growth of many players in the Nigerian national teams, and notable clubs across the world today.
States which competed in the Central Conference of the MILO Basketball Championship at the Indoor Sports Hall, Package ‘B’ of the MKO Abiola Stadium in Abuja from the 12th to 19th of May, 2023 are Kebbi, Kogi, Nasarawa, and host FCT. Others are Kaduna, Niger, Plateau, Benue and Sokoto states.
The MILO Basketball Championship has grown tremendously from about 500 schools at its commencement in 1999. It now reaches over 150,000 individual players from over 10,000 schools across Nigeria every year.
Guaranty Trust Holding Company Plc has reported a profit before tax of N600.9 billion for the half year ended June 30, 2025.
The figure is contained in the company’s audited consolidated and separate financial statements, which were released to the Nigerian Exchange Group and the London Stock Exchange.
The group stated that the performance was driven by growth in core earnings lines, including interest income and fee income, which rose year-on-year by 31.5% and 33.0%, respectively.
It explained that the growth helped to cushion the absence of N493.01 billion in fair value gains recorded in 2024, resulting in a 40 per cent decline.
GTCO stated that its total assets stood at N16.7 trillion, while shareholders’ funds totaled N3.0 trillion during the review period.
It added that its balance sheet remained strong, diversified, and de-risked across operating jurisdictions, as well as its payments, pension, and funds management businesses.
The group disclosed that its Capital Adequacy Ratio closed at 36.2 per cent, while asset quality improved with IFRS 9 Stage 3 loans declining to 3.2 per cent.
At the group level, Stage 3 loans stood at 4.5 per cent, compared with 5.2 per cent in December 2024.
Similarly, the cost of risk improved to 1.7 per cent from 4.9 per cent recorded in December 2024.
The company stated that its net loan book increased by 20.5 per cent, from N2.79 trillion in December 2024 to N3.36 trillion in June 2025.
Deposit liabilities also increased by 16.6 per cent from N10.40 trillion to N12.13 trillion during the same period.
The board of GTCO approved an interim dividend of N1.00 per share for the half year ended June 30, 2025.
Commenting on the results, Segun Agbaje, Group Chief Executive Officer, said the half-year performance reflected business strength and progress towards building a diversified financial services ecosystem.
He said beyond last year’s extraordinary one-off gains, the group was now driving sustainable growth with recurring earnings that demonstrated the resilience and scalability of its model.
Mr Agbaje noted that continued investment in technology, particularly in core banking upgrades, was delivering stronger uptime, efficiency, and greater capacity to scale with a growing customer base.
He added that across banking, funds management, pension, and payments, GTCO was leveraging a de-risked balance sheet to reinforce its market position while maintaining strategic flexibility. According to him, this foundation positions the group to seize emerging opportunities and deliver lasting value for all stakeholders.
Mr Agbaje stressed that GTCO had continued to post some of the best metrics in Nigeria’s financial services industry in terms of key financial ratios. He said the group recorded Pre-Tax Return on Equity of 60.4 per cent, Pre-Tax Return on Assets of 10.6 per cent, Capital Adequacy Ratio of 36.2 per cent, and Cost-to-Income ratio of 30.1 per cent.
NAN
In line with its commitments of promoting sports and developmental initiatives at all levels, First Bank of Nigeria Limited is partnering the organizers of the first of its kind E1 Lagos GP an all-electric powerboat racing championship, set to hold between the 3rd and 5th of October 2025.
Disclosing this at the E1 Lagos GP Stakeholder Immersion session in Lagos recently, Olayinka Ijabiyi, the Acting Group Head, Marketing and Corporate Communication of FirstBank, reaffirmed the Bank’s commitment to supporting initiatives that engender human development across the country while cementing legacies.
“Our involvement in the E1 Lagos GP is about driving legacy and enabling the passions and aspirations that unite Nigerians. We are a bank that has been in business for over 131 years and we recognize that sports drives us as a country, which is why through our First@Sports initiative, we continue to invest in platforms that inspire and elevate our people. We have been supporting legacy sport tournaments like the Georgian Polo Cup which we have hosted for 105 years, and the Lagos Amateur Open Golf Championship for 64 years now,” Ijabiyi said.
With the event slated for the start of the fourth quarter, FirstBank is aligning its partnership with the annual DecemberIssaVybe initiative, a campaign that celebrates the vibrant spirit of Nigerians during the festive season by curating unforgettable experiences that blend culture, entertainment and lifestyle. “FirstBank is deeply woven into the fabric of society and the lives of our customers. As presenting partner, we are creating meaningful touchpoints with customers and prospects, offering them a world-class experience of relaxation and celebration that captures the true essence of Lagos during the festive season,” he added.
Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, who was also at the event, described the initiative as an event that will grow not just the sports but also showcase Lagos’s vibrant culture, dynamic people, and global relevance, while commending FirstBank for their support.
The teams owned by notable stars like Tom Brady, LeBron James, Didier Drogba, Will Smith, Marc Anthony, Steve Aoki, Rafael Nadal will compete in the Lagos leg before the 2025 season of the competition terminates in Miami in the United States.
Zenith Bank Plc has released its Group financial results for the half year ending June 2025, posting an impressive profit before tax of N625.629 billion. Following this robust performance, the Board has approved an interim dividend of N1.25 per share, a 25% increase over the N1.00 paid in the first half of 2024, maintaining the Bank’s position as a leading dividend-paying Bank and reinforcing its longstanding commitment to rewarding its esteemed shareholders.
The substantial dividend payout reflects exceptional underlying performance. Despite higher provisioning requirements from the industry-wide exit of the CBN forbearance regime, the Bank recorded a robust 20% year-on-year increase in gross earnings, rising from N2.1 trillion to N2.5 trillion in H1 2025. Interest income drove this performance with an impressive 60% growth, climbing from N1.1 trillion to N1.8 trillion. The Bank achieved this impressive increase in interest income through strategic repricing of risk assets and effective treasury management.
Commenting on the H1 2025 results, Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, noted that Zenith Bank’s performance reaffirms the creativity and innovation of our unicorn workforce in a dynamic operating environment. “Despite the huge provisioning requirements as the industry exits the CBN forbearance regime, we’ve seen substantial improvement in our asset quality. Our balance sheet remains robust with adequate capital buffers, positioning us well to seize opportunities across our key markets,” she said.
Building on this strong foundation, the GMD/CEO indicated that the Bank expects to accelerate its growth trajectory in the second half of the year following the successful exit from CBN forbearance. She assured shareholders that the robust performance, combined with the improved asset quality, positions the Bank to deliver exceptional returns, with expectations of a quantum year-end dividend for 2025. “Our shareholders can look forward to continued value creation as we leverage emerging opportunities and maintain our strategic growth with strong corporate governance culture,” she noted, highlighting the Bank’s track record of improving dividend payments even during challenging periods.
Looking beyond H1 2025, she reinforced her optimistic outlook: “We’re on a solid growth path that we expect to maintain through the rest of 2025 and into 2026. Our focus remains on innovation, digital transformation, and developing solutions that address our clients’ changing needs. With improving market conditions, we’re well placed to sustain this momentum whilst maintaining responsible leadership and delivering exceptional value to all our stakeholders.”
The Bank’s financial performance indicates strong fundamentals in a transitioning macroeconomic environment, with profit after tax reaching N532 billion and earnings per share standing at N12.95 for the period under review. Net interest income demonstrated exceptional growth, surging 90% year-on-year from N715 billion to an impressive N1.4 trillion, whilst non-interest income contributed N613 billion in H1 2025.
The Bank’s total assets expanded to N31 trillion in June 2025, representing steady growth from N30 trillion in December 2024, underpinned by a robust and well-structured balance sheet. Customer confidence remained strong, with deposits growing by 7% from N22 trillion to N23 trillion in June 2025. The loan book stood at N10.2 trillion in June 2025 against N11 trillion in December 2024., reflecting the Bank’s prudent risk management approach.
The Bank delivered strong returns with ROAE at 24.8% and ROAA at 3.5% as at June 2025. The cost-to-income ratio stood at 48.2%, reflecting necessary provisioning for regulatory compliance and the impact of inflationary pressures. Asset quality improved significantly, with the NPL ratio dropping to 3.1% in June 2025 from 4.7% in December 2024. The Bank maintains a fortress balance sheet with capital adequacy at 26% and liquidity ratio at 69%, both comfortably exceeding regulatory requirements.
In a statement to the investing community, the Bank emphasised that its H1 2025 performance aligns with global sustainability objectives, demonstrating its commitment to integrating ESG principles into both products and operations. The Bank has leveraged its financial strength to create lasting impact, particularly through initiatives supporting SMEs and women entrepreneurs with capital access, training, mentoring and market opportunities. The loan portfolio incorporates multi-tiered processes to ensure ESG compliance, whilst the adoption of cleaner energy sources across business operations reflects the Bank’s responsible banking philosophy and environmental commitments.
