Business
TTP: Nestlé Nigeria Graduates 6th Batch, Celebrates Best Graduating Student
Oluwadarasinmi Adesakin is a beneficiary of Nestlé Nigeria’s 18-month Technical Training program which aims to bridge the skills gap by equipping youth with the required expertise to support industrialization. He is the best graduating student of Batch 6.
A citizen of Oyo State in Western Nigeria, Darasinmi obtained his National Diploma in Mechanical Engineering from the Petroleum Training Institute in Warri, Delta State.
Although he was already working, he aspired to develop himself further and was elated to be accepted into the technical training program. He therefore set his mind to make the best of the opportunity and to attain the best possible result.
Darasinmi’s determination paid off as he finished his studies in flying colours, achieving a total of 29 distinctions, out of 36 courses in the City and Guilds examinations, the best result since the program started in 2011.
“Today was a huge surprise for my father, Mr. Adesakin Adeoye, a Mechanical Engineer himself,” Darasinmi said. “He did not know I was the best graduating student or that I would be going to Switzerland for an internship program. He was so elated and could not hold back his joy. This, for me, was very fulfilling.”
Oluwadarasinmi Adesakin was ecstatic as he joined his colleagues at the 6th graduation ceremony which took place at Nestlé Nigeria’s Technical Training Center in Agbara, Ogun State. All of the 20 trainees excelled at the Diploma 3, 4 and 5 examinations of London City and Guilds, obtaining distinctions in Thermodynamics, and the best overall results in West Africa.
Speaking at the ceremony, the MD/CEO, Nestlé Nigeria, Mr Wassim Elhusseini said, “At Nestlé, we believe that young people have a key role to play in building thriving, resilient communities. Young people are our future, they are the entrepreneurs and innovators of tomorrow. They do not only help their communities thrive, but also benefit Nestlé with their fresh ideas, diverse perspectives, and energy. This is why we are passionate about helping them to build the capabilities and skills they need to contribute towards accelerating the industrialization we need to grow our economy.”
In his comments, Thomas Schneider, Consul General, Consulate of Switzerland in Lagos, said, “We are delighted that for eleven years on, this joint training program between the Switzerland Government and Nestlé Nigeria is still making impact on young people within the country, creating job opportunities.”
Inaugurated in 2011, The 18-month intensive program trains participants in machining, mechanical fitting operations, electrical operations, instrumentation operations and automation. The program culminates in the prestigious London City and Guilds technical certification with the top five graduates of each batch undergoing a further three-month internship program at a Nestlé factory in Switzerland, sponsored by the Swiss Embassy in Nigeria.
Over 160 students have benefitted from the program since its inception, with over 90% of them directly employed by Nestlé Nigeria. All the participants of batch 6, 40% of them females, successfully completed the training and the top 5 performers will be undertaking an internship and mentoring program at Nestlé factories in Switzerland in the first few months of 2023. 95% of the graduates, including Darasinmi, have been employed by Nestlé Nigeria.
Parents of the graduates, the Traditional Ruler of Agbara, and representatives of the Ogun State Government present at the event all expressed their appreciation of the value that the TTC has been adding over the past 11 years.
The Ogun State Commissioner for Education, Science and Technology, Prof. Abayomi Arigbagbu, represented by the Zonal Education Officer, Ado-Odo Ota, Mr Olugbenga Kikisuhu said, “Education is the bedrock of any meaningful social and economic development, and we all must accord education the priority it deserves. Nestlé Nigeria PLC has today taken another giant step on her journey of empowering young Nigerians for a better tomorrow by upskilling and employing the graduates. I congratulate the beneficiaries of this laudable technical training program and particularly appreciate the Management of Nestlé Nigeria PLC for her consistent contribution to educational development in the state.”
In his remarks, the Ogun State Commissioner for Youth and Sports Development, Dr. Kehinde Oluwadare, represented by Adetokunbo Salami, Director, Youth Development for the Ministry, said, “I am delighted to witness another batch of young Nigerians graduating from the Nestlé technical training program. Initiatives such as these are well aligned with the vision of the Ogun State Government on youth empowerment. I commend Nestlé for this sustained intervention which not only equips young people with relevant industry skills and expertise but is also providing economic and job opportunities.”
On his part, the Alagbara of Agbara, HRM Oba (Barr.) Lukman Jaiyeola Agunbiade, commended Nestlé for the positive impact the company is making within the Agbara community, especially in capacity development and empowerment of young people. He described Nestlé Nigeria as a valued stakeholder, and congratulated all graduates, encouraging them to maximally utilize the opportunity provided by the company.
Speaking on behalf of his colleagues, Oluwadarasinmi Adesakin, said, “We are grateful for this excellent platform created by Nestlé Nigeria for young Nigerians. The training program has been an unforgettable journey and a robust experience that has equipped my colleagues and I with knowledge, skills and core values such as integrity, leadership and accountability required to thrive in life.
We are sincerely grateful to Nestlé, the Swiss Consulate and all the partners supporting this program. I commend all my colleagues for the passion, teamwork and dedication that has enabled us to successfully complete the program.”
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.
