Business
Shalina Healthcare Wraps Up 2021/22 Financial Year, Celebrates Staff
There was excitement, show of gratitude and placement of honours during a Gala Night and Award for Excellence ceremony tagged Celebrating Shalina Stars in Lagos, when one of Nigeria’s leading pharmaceutical company, Shalina Healthcare wrapped up its 2021/22 financial year.
The event which was in different sessions was used by the company to assess the outgone financial year while projecting into the new year, celebrate its members of staff as well as take them through leadership training program session.
Welcoming everyone to the event ,the Chief Executive Officer (CEO) of the company, Shalina Clifford said the outgone year has been of a tremendous success for the company, and the contributions of the entire staff of the company in this regard can never be overemphasized.
“We have made a lot of successes in the year, and it is a fact that this can never be achievable without the contributions of all of you. I really appreciate your efforts in ensuring that we have the best of business in the year. Your dedication, commitments and loyalty to the company are invaluable. These have made us gone this far.” She said.
Addressing the members of staff at the event, the Vice President/ Head, West Africa, of the company, Arun Raj while appreciating them also encouraged the staffs not to look back in consolidating on the success made, saying “the company will always do its best to provide a good working condition and support every member of staff in every area to bring out the best in them.”
In the same regard, the company’s Head of Consumer Business West Africa, Suresh Karuppiahsamy, promised that no one will regret associating with the company. “We are a big family here. We are most interested in your happiness, this is part of what we are doing by recognising and honouring some of you and encouraging others to put more efforts.”
Announcing some of the winners of special awards at the event, the Head of Corporate Marketing, Folorunso Alaran highlighted the core values of company which form some of the basis for winning some of the awards. According to him, “the core values of the company with an acronym EPPIC, stand for Entrepreneurship, Persistence, People, Integrity and Customers Obsession.”
In recognition of their outstanding performance in the year under review, a good number of the staffs were awarded with certificates of honours which came with cash award among other benefits in different categories. The categories for the individual awards include, Quarterly Award, Long Service Award, Special Recognition Award, Special Mention Award, Annual Award and Global Award.
In the Annual Award, Gloria Okolie and Olutayo Olutade won the Best Consumer Delegates while Chindima H. Mbakagu and Gabriel Joseph won Best Pharma Delegates award, and Ruth Dinwabor, Israel Akinola won Medical Delegates Awards respectfully. In the other annual awards, David Nwadike and Adekunle Abass Yussuf won Best Regional Manager (Trade) and Best Regional Manager (Insti) respectfully.
In the over 50 awards won at the event both on the individual and team basis, one of the most prestigious awards was the Global Award where the winners would enjoy an all-expenses paid trip to Dubai, UAE to compete at the international level with other staffs of the company from all over the world. In this regard, Chindima H. Mbakagu and Chiuba Nwosu emerged the winners of Pharma Delegate and Consumer Delegate Awards respectfully.
Meanwhile, in their earlier individual remarks, some of the members of staff of the company who were elevated in the year praised the company and promised to do more. Francis Ude, Regional Manager (East) said; ” Thank you for the promotion! I am excited and look forward to adding more value to my team in my new position.”
Also, Donald Oluwatosin, Regional Manager CVD(East) said; ” I feel privileged to be a Shaliknight, a workplace that exudes love, radiates passion and encourages human development . Shalina is one of the best workplaces and I look forward to give my best in the new role. ”
In his own remark, the Regional Manager, Mass Speciality Lagos, Ololade Okanlawon, said that “the work ethics and leadership in Shalina Healthcare has been an inspiring example, I look forward to continued success.”
Sterling Bank, on Wednesday, announced the removal of account maintenance fees on all personal accounts, describing the decision as a “gift” to Nigerians in celebration of the country’s 65th Independence Day.
The decision, which follows the abolition of transfer fees on local online transactions in April 2025, was outlined in a statement shared by the bank. The bank said the policy would allow customers to keep more of their earnings, framing it as a step toward financial freedom.
“Every fee we remove is one less barrier between our customers and true financial freedom. This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees,” Sterling Bank’s Managing Director, Abubakar Suleiman, said.
The statement highlighted that in 2024 alone, tier-1 banks in Nigeria earned over ₦650 billion from account maintenance and e-banking charges. “This decision cuts at the heart of a revenue model that has long cost Nigerian customers dearly,” the bank noted.
Obinna Ukachukwu, Sterling’s Growth Executive for Consumer and Business Banking, said the initiative was intended to strengthen long-term relationships with customers. “This initiative is about building lasting relationships that fuel sustainable growth. We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future,” he said.
Sterling Bank also framed the removal of fees as part of a broader strategy to make banking more inclusive and customer-focused. The April 2025 transfer fee abolition had already eliminated charges on all local online transactions, easing costs for individuals and small businesses. At the time, Ukachukwu described the move as a values-driven decision aimed at ensuring fair access to money.
“Access to your own money shouldn’t come with a penalty. This is more than a financial decision—it’s about redefining banking to put customers first,” Ukachukwu said.
The latest move aligns with Sterling’s positioning as a bank committed to transparency, customer value, and digital innovation, and it signals a continued effort to reshape banking practices in Nigeria.
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.
