Business
Company Gives GTCO 7-Days To Retract Libellous Statement Or Pay N1bn
Guarantee Trust Company (GTCO) is currently enmeshed in a N1b defamation suit over an alleged libelous publication against Corporate Forwarders Limited.
Solicitors to Corporate Forwarders, in a letter, addressed to GTCO, demanded a retraction, an apology, and compensation for the injurious libelous falsehood’ against its client.
According to the letter, GTCO had erroneously flagged Corporate Forwarders Limited as credit risk based on a report from the Credit Risk Management System (CSRM) of the Central Bank of Nigeria (CBN).
GTCO accused Corporate Forwarders of being 1952 days late in repaying an overdraft of N13, 021,000 granted to the company in 2015.
However, Corporate Forwarders Ltd, a frontline logistics services provider of over 3 decades has never applied or received any financial support from GTCO.
The letter stated that the alleged error on the part of GTCO made Corporate Forwarders lose out on securing a loan from another commercial bank, thereby resulting in financial losses for the company.
However, the bank which received the demand letter on Nov 4 has until Nov 11 (seven days) to pull down the offensive and defamatory publication from the Credit Risk Management’s System platform, publish an apology for the misinformation on a national daily and pay the sum of N1bn as compensation or face legal proceedings.
Recall that in July, Guarantee Trust Bank Plc (GTB) completed its reorganization to a Holding Company Structure and adopted the name, Guarantee Trust Holding Company Plc (GTCO).
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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