GTCO shatters records with ₦1.08t earnings in first three quarters of 2024 following historic Q1 profit.
Guaranty Trust Holding Company (GTCO) sets a new milestone with ₦1.08t profit after tax in the first three quarters of 2024, following its record-breaking first quarter.
The Government of Germany is the largest donor to AfDB’s Africa Climate Change Fund (ACCF), contributing $6.19 million in a single donation in April 2014.
The Government of Flanders (Belgium) follows closely with a total contribution of $6.12 million, made in two installments (2016 and 2019).
In 2023, the U.S. Department of State joined as a new donor with a contribution of $5.43 million.
The current value of the ACCF stands at $36.5 million.
To date, the ACCF has supported seven completed projects, 20 under implementation and one cancelled project (originally planned for Sudan).
Some completed projects include climate finance readiness initiatives in Eswatini and Côte d’Ivoire, while ongoing efforts feature "Capacity Building for Women Climate Change Negotiators in Eastern and Southern Africa" in Uganda ($950,000) and "Development of long-term low-carbon and climate-resilient development strategies (LTSs)" for Gabon, Liberia, Botswana, and Lesotho ($500,000).
The project in Sudan was cancelled due to the conflict in the country.
Despite substantial net interest revenue (₦2.2 trillion), CBN saw a significant loss of ₦1.15 trillion in 2023.
From 2017 to 2019, the bank reported negative net interest income while maintaining profitability.
In 2024, profits increased marginally to ₦38.8 billion, following a significant decrease in 2023. 2021 and 2022 were recovery years, with considerable increases in both net interest and profits.
Profit decreased by nearly 68% from ₦123 billion (2015) to ₦39 billion (2024).
Profit after tax was typically positive, with the exception of 2023, when the institution suffered a significant loss, likely due to naira redenomination.
Microsoft’s revenue has grown steadily from $26.8B in Q1 2018 to $70.1B in Q1 2025, marking a 161% increase over the seven-year period.
Its net income more than tripled from $7.4B in Q1 2018 to $25.8B in Q1 2025, with consistent year-on-year growth, especially sharp increases between 2020 and 2023.
The company crossed the $50B quarterly revenue mark for the first time in Q4 2021, and hasn’t dropped below that threshold since Q1 2022.
From Q1 2023 to Q1 2025 alone, Microsoft’s net income surged by over $7.5B, signalling an era of record profitability, with each quarter surpassing $20B in profit since Q2 2023.
