Paradise News

Category: Business

  • FG, AfDB to launch $538 million SAPZ project in C’River on April 10

    FG, AfDB to launch $538 million SAPZ project in C’River on April 10

    The Federal Government of Nigeria is set to launch Phase One of the Special Agro-Industrial Processing Zones (SAPZ) programme, backed by a significant $538 million investment from the African Development Bank (AfDB).

    In a statement on Sunday, the AfDB announced that groundbreaking ceremonies for the commencement of Phase 1 will be held on April 8 in Kaduna State and April 10 in Cross River State.

    This landmark project, AfDB’s largest single-country programme to date, will be led by Nigeria’s Vice President, Kashim Shettima, and AfDB President, Dr. Akinwumi Adesina.

    Construction will begin across eight key locations: Kaduna, Kano, Kwara, Cross River, Imo, Ogun, Oyo, and the Federal Capital Territory.

    Read Also: Nigerian Agency TETFUND Staff Accuse Executive Secretary’s Sibling, Adams Echono Of Abuse Of Power, Transfer Of Female Workers Who Rejected Sexual Advances

    “The initiative is being launched at a critical time as Nigeria intensifies efforts to diversify its economy and combat rising food insecurity,” the statement read. “Kaduna and Cross River States will lead this agricultural transformation, marking a pivotal shift in Nigeria’s approach to agribusiness and food security.”

    According to the bank, “With an unprecedented investment of $538 million, SAPZ Phase 1 marks the African Development Bank’s largest programme in any African country to date, underscoring the scale and significance of this undertaking.

    The SAPZ initiative embodies President Tinubu’s commitment to strengthening food security, generating sustainable employment opportunities, and revitalizing peri-urban economies through innovative public-private partnerships.”

    Source: Nairametrics

  • Cross River Concessions Garment Factory, Others to Jampur Group

    Cross River Concessions Garment Factory, Others to Jampur Group

    By Daniel Bebia

    As part of efforts to enhance job creation and economic opportunities for its citizens, the Cross River State Government has officially handed over the state-owned Garment Factory, Fertilizer Plant, and Sack/Bag Factory to Jampur Group, an Indian company, under a 20-year concession agreement.

    Speaking during the handover ceremony at the Ayade Industrial Park in Calabar, the State Governor, His Excellency, Senator Prince Bassey Edet Otu, represented by the Commissioner for Wealth Creation and Employment, Hon. Patrick Egbede, emphasized that the concession aligns with his administration’s commitment to generating employment for the youth.

    Governor Otu reiterated his government’s dedication to the prosperity of the people, assuring that it remains steadfast in improving their standard of living. He noted that the concession was structured under a Public-Private Partnership (PPP) arrangement, ensuring the industries remain operational and productive for the next two decades.

    He further stated that Jampur Group was selected based on its strong track record of integrity and excellence in Nigeria and globally, expressing confidence that the partnership would lead to job creation and increased opportunities for the people of Cross River State.

    Read Also: ITTF 2025: Governor Bassey Otu Congratulates Canaan Queens

    Also speaking, the Commissioner for Industry, Dr. Mathias Angioha, commended the Governor for recognizing the need to transfer the industries to private management for improved efficiency.

    “Today, we are gathered here to witness the handover of some of our industries to Jampur Group. As we all know, in developed countries, industries are not managed by the state but are rather concessioned for better and more effective operations,” he stated.

    Dr. Angioha highlighted that the concession would drive the state’s industrialization agenda, boost government revenue, reduce financial burdens, and enhance public services.

    In his remarks, the Director-General of the Bureau of Public-Private Partnership, Dr. Francis Ntamu, clarified that the handover was not an outright sale but a PPP-driven initiative aimed at ensuring sustainability and efficiency.

    He expressed gratitude to Governor Otu for approving the concession, describing it as a step in the right direction.

    Speaking on behalf of Jampur Group, Muhammed Akmal assured the government and people of Cross River State that they would not regret the partnership.

    “Over the years, Jampur Group has built a reputation for honesty, integrity, and competence. We are committed to upholding these values as we commence operations, and the people of Cross River State can expect nothing but excellence,” he stated.

    The highlight of the event was the official handover of the industries to Jampur Group.

  • Ikom Cocoa Processing Factory Can Generate 400 To 600million Dollars Annually – Chairman

    Ikom Cocoa Processing Factory Can Generate 400 To 600million Dollars Annually – Chairman

    By Nsan Ndoma-Neji

    Management of AA Universal Bean and Co Ltd, (managers of Ikom Cocoa Processing Factory), says the cocoa plant has potentials to generate $400 to 600 million dollars into coffers of federal government on annual basis.

    Chairman of the company, Chief Chris Agara made the remarks during a telephone conversation at the weekend.

    He described AA Universal Bean and Co Ltd as a firm operating in joint venture  with AA Universal Industries Ltd, and a member of LR GROUP of Israel has potentials to break even in the shortest possible time if given assistance and enabling environment.

    While giving insight on the join venture, Agara stated that both companies formed an SPV (Special Purpose Vehicle) company known as AA Universal Bean & Co, which provides management of the cocoa value chain.

    Read Also: Burial Arrangements for High Chief Dr Emmanuel Nyong Nsan, OFR

    “This can be achieved if we take the factory to full potential, if we do value addition. What we are saying is that we don’t want to export cocoa beans any longer.

    “We want to be processing our cocoa beans into cocoa butter, cocoa liquor, cocoa powder, possibly chocolate because the potentials in Ikom cocoa area of Cross River State can generate that amount, if we go for the full potentials,” he maintained.

    “We have a grant agreement with the United States government through the United States Department of Trade and Development Agency (USTDA)

    “We are to carry out a feasibility study and bankable business plan for the development and production of cocoa and Casava farm produce and value addition processing from farm to table for local use and export purposes.

    “We are working with a team that has expertise, where nothing is wasted. We uptake cocoa pods away from the farmers because the plenty shells that  farmers throw away, we still process them to food paste,” he stated.

    Agara averred that his firm will assist  cocoa farmers with high quality  pesticides that will help farmers  overcome issues of black pods and several diseases that stand as obstacle to production of cocoa.

    “We process that sweetener the one we lick to juice, and we still used that same juice to process our sweetener for glutton free a chocolate.

    “We will pay beyond the premium price of the cocoa beans that farmers are presently offered because we will support them,” he maintained.

    Agara disclosed that plans are underway by the cocoa processing firm to establish farmers micro finance bank to aide farmers carry out farming activities with ease.

    “In addition to providing support of chemicals and pesticides, fertilizers etc to farmers, our updated and current farming methodology would enable farmers harvest up to 3.5tons of cocoa per hectare as against the 400kg per hectare being harvested now which is  8 times more.

    “This we would achieve by helping the farmers to regenerate their old farms in addition to the new greenfield farms by adopting our established and confirmed farming protocols currently in practice in our Ecuador South America farms.”

    On the issue of off- taking cocoa pots from the farmers, the chairman also stated that “it would go a long way to satisfy the traceability concerns of our cocoa farming and production processes.

    “In addition, off taking the cocoa pots directly from the farms to our processing site would eliminate the practice of using children and women to crack the pots, dry and ferment cocoa at the farms before sales to buyers.

    “This clears the international community concerns regarding the issue of child labour in our cocoa farming practices.”

  • GTCO Launches ‘Waste for Gas’ Initiative to Empower Underserved Communities in Ogun State

    Lagos, Nigeria – Guaranty Trust Holding Company Plc (GTCO) today unveiled its transformative “Waste for Gas” project, designed to improve the quality of life for low-income households and empower women in underserved communities in Ogun State. The initiative, which will distribute 3,000 3kg gas cylinders along with burners, is set to replace traditional firewood and charcoal cooking methods with a more efficient and sustainable alternative.

    A Dual-Phased Approach

    The project will roll out in two phases:

    • Identification and Distribution (February 18th-21st, 2025):
      GTCO teams, working alongside local government representatives, will conduct door-to-door visits across 12 wards in Obafemi Owode Local Government. The aim is to identify eligible households that currently rely on firewood or charcoal for cooking. These households will be invited to participate in the “waste for gas” exchange programme, where they can exchange plastic waste for a gas cylinder and burner.
    • Monitoring and Adoption (February 22nd-23rd, 2025):
      The second phase focuses on monitoring the uptake and proper utilization of the new cooking method, ensuring a smooth transition and sustained benefits for the communities involved.

    Transforming Lives and Communities

    Mr. Segun Agbaje, Group Chief Executive Officer of GTCO Plc, emphasized the initiative’s broader impact:

    “At GTCO, we are committed to driving progress not just through innovative financial solutions but by creating real impact in the communities where we operate. Waste for Gas is about making life easier for families, giving them more time for what truly matters—whether it’s education, meaningful work, or personal development.”

    By shifting household energy practices, GTCO aims to reduce the daily burden on families while promoting responsible waste management and environmental sustainability. The structured exchange programme is expected to foster a culture of sustainability, as residents are encouraged to manage plastic waste effectively.

    A Legacy of Social Impact

    This initiative is part of GTCO’s broader commitment to corporate social responsibility. With operations spanning across Africa and the United Kingdom, GTCO Plc continues to leverage its extensive financial services expertise to drive socioeconomic progress in the communities it serves. The “Waste for Gas” project not only aligns with the company’s innovative approach to CSR but also sets a blueprint for future community-focused interventions.

    About GTCO Plc:
    Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc is a leading financial services institution with a presence in 10 countries. Evolving from a traditional commercial bank to a diversified financial services powerhouse in April 2021, GTCO Plc’s operational entities include Guaranty Trust Bank Limited (GTBank), Guaranty Trust Fund Managers Limited (GTFM), Guaranty Trust Pension Managers Limited (GTPM), and HabariPay Limited (Habari). Renowned for its “Proudly African and Truly International” ethos, GTCO remains committed to enriching lives and empowering communities through sustainable and innovative initiatives.

  • GTBank Removes POS Processing Fees to Support Businesses

    Guaranty Trust Bank Ltd has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions.

    This initiative, which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.

    With this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant’s enterprise, and enhancing customer experience.

    Speaking on the initiative, Miriam Olusanya, Managing Director, Guaranty Trust Bank Nigeria, said: “At Guaranty Trust Bank, we are always looking for ways to add value to our financial ecosystem. By implementing the zero processing fees on POS transactions, we are empowering businesses to get the full value of every payment they receive, whilst also ensuring a more seamless and efficient payment experience.”

    The Zero Processing Charge campaign aligns with GTBank’s ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency.

    For more information, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at poshelpdesk@gtbank.com.

    About GTBank

    Guaranty Trust Bank (GTBank) is a leading financial institution committed to delivering innovative banking solutions that empower businesses and individuals. With a strong focus on technology and customer satisfaction, GTBank continues to redefine the banking experience across Africa and beyond.

  • Gadholtech: Revolutionizing Tech and Media Consulting with Visionary Leadership

    Gadholtech: Revolutionizing Tech and Media Consulting with Visionary Leadership

    By Prince Cyril

    In the dynamic world of technology and media, few companies stand out like Gadholtech. With its headquarters in the vibrant city of Calabar, Nigeria, Gadholtech has emerged as a leading force in tech and media consulting. Helmed by the visionary CEO, Mr. Isong Cyril Paul, the company has carved a niche for itself by offering unparalleled services in project personalization and social media presence management.

    Our Mission: Empowering Media Personalities and Brands

    Gadholtech is driven by a clear mission: to amplify the voices of its clients and ensure their recognition in the competitive media landscape. By blending cutting-edge technology with innovative strategies, we help clients achieve verified recognition and enduring visibility.

    What We Do
    Gadholtech specializes in a range of services designed to elevate personal and brand profiles:

    Feature Placement in National Dailies

    Gadholtech has established strong partnerships with leading national newspapers, ensuring that our clients’ stories are told with impact. From interviews to feature articles, we position our clients in the spotlight.

    Wikipedia Page Creation and Management

    A Wikipedia presence signifies credibility and relevance. At Gadholtech, we craft well-researched, notable, and compliant Wikipedia pages, giving clients a lasting digital footprint.

    Social Media Verification

    Gaining a verified badge on platforms like Facebook and Instagram is no small feat, but Gadholtech has perfected the art of securing these highly coveted symbols of authenticity for our clients.

    Media Personality Branding

    We specialize in elevating the profiles of celebrities and dignitaries, crafting compelling narratives that resonate with their audience while ensuring consistent media exposure.

    Comprehensive Project Management
    From ideation to execution, Gadholtech handles projects of all scales with precision and innovation, delivering results that exceed expectations.

    Making Waves in the Media Space
    Under Mr. Isong Cyril Paul’s leadership, Gadholtech has built a reputation for its unmatched ability to propel clients into the limelight. Our expertise has benefited countless dignitaries and celebrities, securing them prominent spots in the public eye and on digital platforms.

    Why Choose Gadholtech?

    Tailored Solutions: We understand that every client is unique, and we customize our services to meet individual needs.

    Proven Track Record: Our portfolio is rich with success stories of verified accounts, published features, and elevated profiles.

    Innovative Strategies: We stay ahead of trends, leveraging the latest tools and techniques to deliver impactful results.

    Commitment to Excellence

    At Gadholtech, quality is non-negotiable. Every project we undertake is executed with the highest level of professionalism.

    Looking to the Future

    Gadholtech is not just about making a mark in the present; we are shaping the future of tech and media consulting. As the media landscape evolves, Gadholtech remains committed to innovation, ensuring our clients stay at the forefront of relevance and recognition.

    Contact Us
    Are you ready to take your personal or brand profile to the next level? Gadholtech is here to make it happen. Join the league of distinguished clients who have trusted us to deliver excellence in tech and media consulting.

    Gadholtech@gmail.com
    +2349116304376

    Gadholtech – Where Visibility Meets Credibility.

  • GTCO raises ₦209bn in its first tranche of equity capital raise programme

    Lagos, Nigeria – Guaranty Trust Holding Company Plc (GTCO Plc), listed on the Nigerian Exchange (NGX: GTCO), has announced the successful conclusion of the first tranche of its equity capital raise programme.

    This milestone follows the completion of a capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment by the Securities and Exchange Commission (SEC).

    The offer, which attracted significant interest from domestic retail investors, raised ₦209.41 billion through 130,617 valid applications for 4,705,800,290 Ordinary Shares. The allotment was fully subscribed, marking a successful start to GTCO Plc’s phased recapitalization strategy, designed to balance participation between institutional and retail investors.

    Speaking on the development, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, expressed gratitude to stakeholders: “We extend our sincere appreciation to our new and existing shareholders, as well as the regulatory authorities, for their unwavering support during this initial phase of our equity capital raise.

    READ ALSO: U.S Congress Certifies Trump’s Election Four Years After Capitol Building Invasion

    “The strong participation and successful capital verification exercise reaffirm the confidence investors have in our fundamentals and execution capabilities. This sets a solid foundation for accelerating our strategic roadmap to unlock greater value across our Banking and Non-Banking businesses.”

    The Group plans to commence the second phase of the recapitalization exercise in 2025, which will focus on attracting foreign institutional investments to bolster GTCO’s international footprint. Proceeds from the equity raise will be used to recapitalize Guaranty Trust Bank Limited, its flagship subsidiary, ensuring regulatory compliance while enhancing growth initiatives. The funds will also support product innovation, expansion across Banking and Non-Banking subsidiaries, and overall operational improvements.

    GTCO Plc is recognized as one of Africa’s leading financial institutions, with a presence in 10 countries across Africa and the United Kingdom. The Group provides comprehensive banking, wealth management, and financial technology services to millions of customers, cementing its position as a key player in the financial services sector.

    This achievement underscores GTCO’s commitment to sustainable growth and innovation, as it continues to deliver value to its stakeholders and contribute to Africa’s economic development.

  • Rock-Link Real Estate Academy Graduates 30 Realtors in Anambra

    Rock-Link Real Estate Academy Graduates 30 Realtors in Anambra

    By Ovat Abeng

    Rock-Link Real Estate Academy, one of the most prestigious real estate training institutions in Nigeria, with its head office located at No. 1 Rev. Prof. Daddy Hezekiah Street/High Tension, Awka, Anambra State, has graduated thirty new realtors.

    The graduation ceremony, which took place on Saturday at the academy’s premises in Awka, also featured the issuance of certificates to the successful students, the official opening of the company’s permanent office, and the celebration of Rock-Link Real Estate Company Nigeria Limited’s 11th anniversary.

    During the event, the Chairman and Chief Executive Officer of the Rock-Link Real Estate Company Nigeria Limited, Chief Kingsley Obika (Akudo N’Ogbunka), announced that the thirty graduates completed courses in Marketing and Real Estate.

    He said that he specializes in residential property and is also a developer. Chief Obika noted that many of Nigeria’s leading estate companies have emerged from Rock-Link Real Estate Company.

    Read Also: Nigerian Police Killed Our Son In Cell, Told Us He Committed Suicide On His Knees When We Pointed Out Cell Ceiling Is Too Low –Family Of Late Kwara Man

    “My primary goal in establishing this academy was to align with Governor Chukwuma Charles Soludo’s vision of creating a digitalized, secure, livable, and prosperous state in Nigeria,” he said.

    He further urged Ndi Anambra, both at home and abroad, to heed the Aku Luo Uno call from the Anambra State Government and invest with Rock-Link Real Estate Company Nigeria Limited, assuring them of legitimacy, transparency, and quality service delivery.

    The Chairman also commended Governor Soludo for his developmental initiatives and efforts to create a favorable business environment in Anambra State.

    The event was attended by several notable figures, including former Super Falcons player and coach, Maureen Madu, members of the Awka Car Dealers Association, realtors, comedians, and many others.

  • Johanah Napoleon Unveils Global Expansion Plans for 2025 and Beyond

    Johanah Napoleon Unveils Global Expansion Plans for 2025 and Beyond

    Wellness entrepreneur and founder of Jay Luxury Spa and Wellness, Johanah Napoleon, widely known as “Ms. Jay,” has announced ambitious expansion plans for her wellness brand. During a recent conversation with our reporter, Ms. Jay detailed her vision for 2025, which includes opening new branches across Africa, North America, Europe, and the Caribbean.

    “While 2024 was all about laying down the foundation, 2025 will be a year of consolidation and growth,” she said. “We are looking forward to opening branches in various African countries and other locations in North America, starting with a branch in Canada next year. Plans are also underway to establish outlets in the United Kingdom, Turkey, and the Caribbean.”

    As a trailblazer in the wellness industry, Johanah’s work goes far beyond her role as a healthcare and wellness expert. Her entrepreneurial vision reflects her deep commitment to health, beauty, and compassion. Drawing inspiration from her Haitian heritage, Ms. Jay has built a brand that merges her cultural pride and professional expertise.

    Born in Haiti, the world’s first Black republic and often called the “Pearl of the Antilles,” Johanah takes pride in her roots. “My name, Napoleon, carries a weighty significance tied to my heritage. It’s a name that resonates across Haiti, the Caribbean, and even France,” she shared.

    Read Also: Two Nigerian men caught with drugs worth over N111m in South Africa

    Raised in Boca Raton and Manhattan, New York, Johanah’s multicultural upbringing fueled her drive and passion for excellence. Her background in healthcare provided the foundation for her transition into the wellness and beauty industry.

    Today, her flagship wellness center, Jay Luxury Spa and Wellness, has become a sanctuary for clients seeking rejuvenation and holistic care. Beyond wellness, Johanah’s entrepreneurial pursuits include real estate development and investments, underscoring her dedication to building a lasting legacy that combines business innovation with heartfelt service.

    With her upcoming global expansion plans, Ms. Jay is poised to elevate her brand to new heights, solidifying her influence as a leader in the wellness industry. “This is more than business; it’s about bringing the essence of care, health, and beauty to people worldwide,” she stated.

    As 2025 approaches, Johanah Napoleon’s vision promises to set a new standard for wellness, health, and self-care on a global scale.

  • Anambra govt initiates low interest loan to support MSMEs

    Anambra govt initiates low interest loan to support MSMEs

    By Ovat Abeng

    The Anambra Government says it has initiated low interest loans to support Micro, Small and Medium Enterprises (MSMEs) in the state.

    The State Commissioner for Industry, Trade and Investment, Mr Christian Udechukwu, disclosed this while declaring open, a one-day Anambra Small Business Summit with the theme: “Enhancing the Growth of Small Business for Job and Wealth Creation, held at King David Hotel Awka over the weekend.

    He said the initiative was in line with present administration of governor Chukwuma Charles Soludo’s vision of making Anambra prosperous homeland in Nigeria.

    Udechukwu, who did not disclosed the interest rates, however, said the mandate of the ministry was to enhance businesses for jobs and wealth creation.

    Read Also: Economic Hardship: How Stress Fuels Hypertension

    According to him, in the ministry under my watch, we have funds that we have made available to micro, small, medium and large enterprises.

    “For micro businesses, you can apply from zero to NN10 million. It is funded by the Anambra State government and the Bank of Industry,” he said.

    He explained that to access more than N10 million loan the business owner had to register with the Corporate Affairs Commission (CAC) and also own assets.

    The commissioner emphasized the need for small business owners in the state to register with the Small and Medium Enterprises Development Agency (SMEDAN) and Nigerian Association of Small and Medium Enterprises (NASME).

    He said the measure would enable them access the various low interest loans available in the state.

    He noted that the government of governor Soludo was building structures that would promote the non-oil sector through small scale businesses and agriculture.

    In her address, the State SMEDAN Coordinator, Mrs Chito Onuzuluike, said it was unfortunate that small business owners in the state do not take advantage of the opportunities abound in the agency to boost their operations.

    Onuzuluike quarrel that the plan of SMEDAN to help small scale businesses in the state to develop  was being hindered by lackadaisical attitude of business owners.

    Also speaking, Mr Kingsley Ahamefula,  the head of Corporate Affairs Commission (CAC), in the state said business registration was important in order to be recognised locally and internationally.

    Earlier, the State Chairman of the National Association of Small Medium Enterprise (NASME), said the summit was first of its kind organised by the private sector to provide solutions to the challenges of doing business in Anambra State.