Obong Idiong

Guaranty Trust Holding Company Plc (GTCO) has announced a significant capital injection of N365.85 billion into its flagship subsidiary, Guaranty Trust Bank Limited (GTBank), as part of efforts to meet the Central Bank of Nigeria’s (CBN) new capital requirements for banks with international authorization. The move, disclosed in a regulatory filing on Friday and signed by Company Secretary Erhi Obebeduo, was executed through a rights issue involving the issuance of nearly 7 billion ordinary shares of GTBank to GTCO. This strategic transaction raises GTBank’s share capital from N138.186 billion to N504.037 billion, surpassing the CBN’s mandated minimum of N500 billion for internationally licensed commercial banks. Visit www.nairametrics.com to read more.

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📢 New Article Alert!! We’re pleased to share our latest publication “Capital Gains Tax Under Nigeria Tax Act 2025: What It Means for Upstream Asset Deals'' by Chinenye Alaeto, ACA, Assistant Manager and Uzoma Okafor, Associate, Energy, Mining and Maritime. 🔍 What’s Inside? This article explores the implications of this change, examining its impact on IOCs seeking to divest their onshore and shallow-water assets and the indigenous oil and gas companies looking to acquire these assets. 📖 Read the full article here: https://lnkd.in/dJg38eER #NTA #Capital #Gains #Tax #CGT #Upstream #Assets #Andersen #AndersenNigeria

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Mergers and Acquisitions (M&A) continue to feature prominently in Nigeria’s business landscape, with over 40 transactions recorded in the first nine months of 2024. As deal volumes rise and competition rules tighten, understanding the merger control regime of the Federal Competition and Consumer Protection Commission (FCCPC) has become critical for any company looking to grow or restructure through M&A. The FCCPC’s merger control framework sets out the legal, procedural, and documentary requirements for transactions, including those involving sector-specific regulators like the CBN, SEC, and NCC. Parties must navigate merger thresholds, complete notification processes, and meet documentation standards, while also avoiding common pitfalls like gun-jumping or insufficient disclosures. In this article, our Team Leads, Noble Obasi, Francisca Igboanugo, and Associates, Ibitola Akanbi, Ebube Okorji, and Linda Daramola, unpack the key requirements, stages, and compliance expectations that apply to M&A transactions under Nigeria’s merger regime. They also outline how parties can engage with the FCCPC during pre-notification, prepare required forms and submissions, and mitigate legal and reputational risk. Click the link beloe to read the full publication and reach out to [email protected] for further inquiries and consultation. https://lnkd.in/d9z7dY24 #strenandblanpartners #mergersandacquisitions #fccpc #regulatorycompliance #mergerthreshold

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Cross-border crimes like money laundering raise complex questions about the reach of Nigerian courts. As global transactions expand, understanding the limits of extra-territorial jurisdiction has become necessary for businesses and individuals.   Authored by TEMPLARS Partner, Emmanuel Gbahabo, CCEP-I, Senior Associate, Lawal Kazeem, ACIArb, and Associate, Grace Ezinne Nwaigwe, this article analyses the Money Laundering (Prevention and Prohibition) Act, 2022, highlighting the risks of an overbroad interpretation that could extend jurisdiction to non-citizens without a clear link to Nigeria, and argue for limiting jurisdiction to cases involving Nigerian citizens or national interests.   The article calls for legislative clarification and judicial guidance to align Nigeria’s framework with global best practice. To understand the implications and how to navigate compliance in cross-border transactions, read the full publication: https://lnkd.in/d_wRuA8X ..................................................... #CrossBorderTransactions #MoneyLaundering #FinancialCrime #NigeriaLaw #AntiMoneyLaundering #AMLCompliance #RegulatoryFramework #GlobalBestPractice #InternationalLaw #BusinessCompliance 

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NSE Partners with People Capital Global LLC to Enhance Professional Development and Capacity Building The Nigerian Society of Engineers (NSE) has forged a strategic partnership with People Capital Global LLC (PCG), a leading high-tech firm, to bolster the professional development and capacity building of its members. This collaboration emphasizes NSE’s dedication to advancing the skills and expertise of Engineers in response to the evolving demands of the profession. As part of this partnership, NSE members will gain access to PCG’s cutting-edge WES-Online platform, a multilingual, AI-enabled tool designed to accelerate skill development in emerging sectors and improve workplace readiness. The platform offers a range of solutions to enhance employability, facilitate experience-building across industries, and provide robust competency assessment tools, all while supporting continuous career and professional growth. The Memorandum of Understanding (MoU) was signed by Engr. Margaret Aina Oguntala, FNSE, President of NSE, with Engr. Abubakar Halilu Mu’azu, FNSE, the Executive Secretary, serving as a witness. Representing PCG, Mr. Roti Balogun, Founder and Managing Partner, signed the agreement, with Atim Amana witnessing the event. This partnership signifies a significant step in equipping NSE members with the resources necessary for success in an increasingly technology-driven global workforce. In a world where digital transformation is accelerating, this partnership places NSE members in a prime position to remain relevant and excel in the competitive Engineering landscape. By integrating advanced learning technologies, NSE is ensuring that its members are well-prepared to tackle the challenges of the future and continue to lead in their respective fields. #engrmargaretainaoguntala #nse #nsehqtr #engineers #society #media

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