Sunday, November 28

Tag: GTBank

Banks, MTN Dispute Over USSD, Airtime Fees Deepens
Business

Banks, MTN Dispute Over USSD, Airtime Fees Deepens

There were strong indications last night that some commercial banks may have yanked off their USSD, airtime purchase, and other online services from MTN network due to the disagreement between the financial institutions and the telecommunication company on the amount to be charged. THISDAY gathered that the bank Chief Executive Officers had at a recent meeting agreed to shut down purchase of MTN services across all their channels beginning from 11 pm last night until further notice. Attempt by THISDAY to purchase airtime from GTBank last night showed that the commercial bank had removed MTN among the network its customers could purchase airtime from. However, Fidelity Bank was still offering the service as of midnight. A source close to the banks explained that the disagree...
Relaxing Lockdown Is A Colossal Mistake, Says Melaye
Politics

Relaxing Lockdown Is A Colossal Mistake, Says Melaye

The former member representing Kogi west senatorial district in the upper chamber of the National Assembly, Dino Melaye says relaxation of the lockdown imposed on some of the States in the country is a colossal mistake. Speaking via his official Twitter handle, the former lawmaker shared a video of a mammoth crowd at Area 3 Abuja branch of both GTbank and Union bank. “Easing the lockdown is a colossal mistake. See GTbank and Union bank in Area 3 Abuja,” Melaye tweeted.
COVID-19: GTBank setting up 100-Bed Intensive Care Center
Health

COVID-19: GTBank setting up 100-Bed Intensive Care Center

Guaranty Trust Bank, Nigeria’s leading lender, is setting up a 100-bed Intensive Care Centre at Onikan for Nigerians that may be infected by coronavirus, the bank said Tuesday. Segun Agbaje, Chief executive Officer, GTBank in a statement said that the center will be fully equipped with all the necessary gadgets, including respirators and personnel to treat and care for those that may be affected. The Centre will be fully set up by the end of this week, Agbaje said.
N8.7bn Debt: Innoson Motors Moves To Take Over Gtbank Branches
News

N8.7bn Debt: Innoson Motors Moves To Take Over Gtbank Branches

Innoson Nigeria Limited, Nigeria’s indigenous vehicle production company, has instituted a move to take over Guaranteed Trust Bank, GTB, following a ruling by the Supreme Court over the bank’s N8.7 billion indebtedness to the company. The company’s chairman, Chief Dr Innocent Chukwuma, made the move through a “Writ of FiFa taken over Guaranty Trust Bank PLC for and on half of Innoson Nigeria Ltd” as a result of the Bank’s indebtedness to Innoson Nigeria Ltd. In a landmark decision on February 27th 2019, the Supreme Court had dismissed GTB’s appeal marked SC. 694/2014- against the judgment of Court of Appeal, Ibadan Division. The Court of Appeal, Ibadan division had in its decision of 6th February 2014 dismissed GTB’s appeal against the Federal High Court, Ibadan Division. Thus,...
Gtbank Dominates CBN E-payments Awards, Wins 8 Out Of 12 Banking Honours
Uncategorized

Gtbank Dominates CBN E-payments Awards, Wins 8 Out Of 12 Banking Honours

Guaranty Trust Bank plc continued its dominance of Nigeria’s most qualitative digital financial service awards for the fourth year in a row, winning eight of the twelve honours available to Banks in the 2019 edition of the Central Bank of Nigeria (CBN) Electronic Payment Incentive Scheme (EPIS) Efficiency Awards. The foremost African financial institution, renowned for its innovative products and services, won awards for efficiency and excellent service delivery in virtually every E-payment channel. The CBN EPIS Efficiency Awards is organized to celebrate financial institutions, merchants and other stakeholders at the forefront of driving electronic payment in Nigeria. Now in its fourth year, the awards are based on objective analysis of all E-payments data collated by the Nigeria In...
GTBank 2019 Lagos Polo: Machines, Tila Farms Make Winning Starts
Sport

GTBank 2019 Lagos Polo: Machines, Tila Farms Make Winning Starts

The much-awaited 2019 GTBank Lagos Polo International Tournament galloped off in an exhilarating fashion yesterday with Lagos Machines and Kaduna Tila Farms commencing their Silver Cup adventures on winning notes. The Machines defeated Kano Nakudu 8-4 while Tila Farms stroll passed low flying Lagos. Two more games were decided on the opening day, but the game that keep the legendary Ribadu Road polo ground on fire, was the titanic Open Cup clash between Lagos Carveton SaoPolo and debutants from Abuja, Team Almat. The Machines and Nakudu match commenced the two-phase of what promises to be a bumper-to- bumper galloping expedition at Nigeria’s commercial capital and the former lived up to their high rating as they took the game to their opponent from the opening bell. However, i...
Fitch Expresses Concern Over FG’s Ability To Support Banks
News

Fitch Expresses Concern Over FG’s Ability To Support Banks

GLOBAL rating agency, Fitch Ratings, has expressed concern over the ability of the federal government to support the banking industry especially in terms of foreign exchange. Fitch stated this in its latest credit ratings for three Nigerian Tier-1 banks namely Access Bank, Guaranty Trust Bank (GTBank) and United Bank for Africa (UBA). Stressing that the credit rating of each bank is constrained by the operating environment in Nigeria, Fitch said: “The fragile economic recovery restrains banks’ growth prospects and asset quality. Operating conditions are still difficult for banks. “Despite stronger oil prices in second half of 2018 (H2’18) supporting economic growth, credit demand is weak and banks face pressure on margins and capital. “Fitch believes that sovereign support to Nigerian b...
Bisi Alimi Slams Gtbank For Inviting Gay US TV Host, Jay Manuel
Entertainment

Bisi Alimi Slams Gtbank For Inviting Gay US TV Host, Jay Manuel

Nigerian gay rights activist, Bisi Alimi has called out GTBank for inviting Jay Manuel to its fashion week masterclass. In an Instagram post, Bisi Alimi slammed the bank for its hypocrisy. According to him, they will never invite well known Nigerian gays for such events but won’t mind spending huge money on bringing foreign gays like Jay Manuel. He also wondered why GTBank, which is in a country with strict laws against LGBT, cannot speak against such laws but don’t mind working with foreign gays. Bisi Alimi wrote: ”So @gtbank is inviting @mrjaymanuel to Nigeria for a master class and I am really upset. I will tell you why I am upset and why I hope Jay will pull out of this show of shame. GT Bank operates in a country with a law that says LGBT people will go to jail for 14years a...
Sell-Off Persists As Stock Market Drops Lower, Records 0.84% Loss
News

Sell-Off Persists As Stock Market Drops Lower, Records 0.84% Loss

The stock market closed lower on Thursday shedding 0.84 percent to extend downtrend to seven consecutive trading sessions as sell- off persists. Nigerian Stock Exchange Specifically, the All Share Index (ASI) was down by 270.56 points, representing a decrease of 0.84 percent closing at 32,022.23 points. Similarly, the market capitalisation was down by N98.78 billion, representing a decrease of 0.84 percent, closing at N11.69 trillion.   Market breadth closed negative, recording 9 gainers against 26 losers. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; WAPCO (-10.00 percent), Honey Flour (-8.63 percent), Forte Oil (-7.41 percent), NESTLE (-5.48 percent), Access Bank (-5.00 percent), Dangote Flour (-4.76 percent),...
Positive Investors’ Sentiment Lifts Stock Market By 0.28%
News

Positive Investors’ Sentiment Lifts Stock Market By 0.28%

Positive investors’ sentiment on the stock market on Tuesday lifted the Nigerian Stock Exchange, NSE All Share Index higher, ASI by 0.28 percent to close at 34,933.68 points, compared, with the depreciation of 0.03 percent recorded on Monday. The appreciation recorded in the share prices of companies such as FBN Holdings, Dangote Cement, GTBank, Dangote Cement, and Zenith Bank were mainly responsible for the gain recorded in the Index. Similarly, the market capitalisation appreciated by 0.28 percent to close at N12.75trillion, compared with the depreciation of 0.03 percent recorded on Monday which closed at N12.718 trillion. The Exchange recorded 23 gainers against 18 losers, with shares of GTBank , Oando Plc lifting up the NSE Banking and NSE Oil/Gas Indices by 1.41 percent a...
Banks Stop Cash Withdrawal From Overseas ATMs
News

Banks Stop Cash Withdrawal From Overseas ATMs

Banks have suspended all cash withdrawals from overseas Automated Teller Machines (ATMs), except for customers whose cards are linked to domiciliary accounts funded locally, The Nation has learnt. Banks have been encouraging travellers to open and fund dollar accounts, which aside from having no spending limits, provide them the flexibility to spend at all times. The lenders are also raising their card spending limits on Point of Sale (PoS) and online card transactions abroad, an indication of increased dollar liquidity and rising exchange rate stability. Guaranty Trust Bank (GTBank) and First City Monument Bank (FCMB) at the weekend raised their monthly card spending limit on overseas PoS and online transactions from $1,000 to $3,000 and around $2,000 to $5,000. GTBank infor...
Lovely Photos From The Grand Wedding Of GTBank, UK MD-CEO, Gbenga Alade & His Hearthrob, Yetunde
News

Lovely Photos From The Grand Wedding Of GTBank, UK MD-CEO, Gbenga Alade & His Hearthrob, Yetunde

GTBANK, United Kingdom Mr Gbenga Alade has wedded his lover, Yetunde Olufosoye in grand style. The wedding which took place at La Chateau Bodija Ibadan on Tuesday, April 17, 2018, had the creme-de-la-creme of the banking world in attendance. A confirmed report revealed to City People that another wedding reception will come up London in September. The traditional marriage took place at the same venue earlier on the same day. Mrs. Yetunde Alade, the bride is in her 40s as a single lady who has never been married until she met Mr. Alade. Mr. Gbenga Alade is the Managing Director and Director of Guaranty Trust Bank (UK) Ltd., since 2018. He had served as the Executive Director of Enterprise Risk Management at Intercontinental Bank Plc. and has over 20 years of b...
GTBank’s You Read Initiative Backs Nigerian’s Bid To Break Guinness World Record For Longest Marathon Read Aloud
News

GTBank’s You Read Initiative Backs Nigerian’s Bid To Break Guinness World Record For Longest Marathon Read Aloud

Guaranty Trust Bank Plc’s CSR programme launched in 2017, You Read Initiative, has given her support to a 40-year old Nigerian, Olubayode Treasures Olawunmi, attempting to break the Guinness World Record for the Longest Marathon Read Aloud from various schools in the environ. This is part of GTBank’s initiative to rekindle the interest in reading among Nigerians. The current record holder Deepak Sharma Bajaan has held it since 2008, after he read a total of 17 books in 113 hours and 15 minutes. Now, Olubayode is taking a shot at breaking the world record by reading over 15 Nigerian published books in 120 hours over a period of 6 days at the Herbert Macaulay Library, Yaba. Hail from Ogun state, Olubayode Tresures Olawunmi started the challenge on Monday 26th February, 2018 at ex...
Unemployed Man Snatches N1.1m From Bank Customer
News

Unemployed Man Snatches N1.1m From Bank Customer

Police in Lagos on Monday arraigned an unemployed man, Festus Eboh, in an Ikeja Magistrates’ Court for allegedly snatching N1.1million from an unsuspecting customer who was coming out of a bank. The 35-year-old accused, who lives at Meiran, a Lagos suburb, is standing trial on a two-count charge before Magistrate O.A. Akokhia, according to the News Agency of Nigeria, NAN. The Prosecutor, Insp Benedict Aigbokhan, told the court that the crime was committed at Guaranty Trust Bank (GTB), Amuwo Odofin area of Lagos, at about 12.30 p.m. on Oct. 14, 2017. He alleged that the accused and others at large conspired to snatch bags from customers coming out of the bank. The prosecutor said that the accused criminally waylaid and snatched a bag containing N1.1 million, the property of an u...
Etisalat Debt Will Have ‘Manageable Impact’ On Banks – Exotix Capital
News

Etisalat Debt Will Have ‘Manageable Impact’ On Banks – Exotix Capital

London-based investment banking services firm, Exotix Capital, has released a new report that says the $1.2 billion Etisalat Nigeria debt burden will have ”manageable impact” on the 13 Nigerian banks involved. The analysts estimate a minus 12 percent impact on the lenders’ net profit in the 2017 financial year, a negative two percent impact on their equity and, a modest 0.3 percent hit on their capital adequacy ratio. The report says a bailout of Etisalat Nigeria by the Central Bank and Asset Management Corporation of Nigeria is unlikely. Among the group of banks involved in the Etisalat loan crisis, the biggest contributors are Zenith Bank with N80 billion, GTBank with N42 billion and Access Bank with N40 billion. The lowest amount of loan in the consortium was FCMB at N4.5 bi...
Five Arrested As Police Foil Multiple Bank Robberies In Lagos
News

Five Arrested As Police Foil Multiple Bank Robberies In Lagos

The Credible Technical Intelligence, operatives of the Intelligence Response Team, IRT, deployed to Lagos by IGP Ibrahim K Idris has foiled multiple bank robberies in the state by a notorious militant group led by wanted criminal, ‘America.’ America is believed to be the mastermind of the recent abduction of the Epe School children. The IRT leader, ACP Abba Kyari in a message forwarded to DAILY POST, Friday morning said the five key members of the notorious militant group led by America had perfected plans for massive attack on five banks in Lagos before nemesis caught up with them. ACP Kyari said they were arrested in Ikorodu and Ajah areas of Lagos. The development is coming barely three days after his team nabbed three members of the notorious gang in Benin, the Edo State capi...
GTB Beats Expectations, Posts N42bn Profit In Q1
News

GTB Beats Expectations, Posts N42bn Profit In Q1

The Guaranty Trust Bank on Wednesday surprised investors with an impressive performance in the first quarter (Q1) of the year. The bank’s gross earnings rose from N73.4 billion recorded in the first quarter of 2016 to N104.7 billion in Q1 of 2017. Up by 38.8 percent. Net interest income also improved by 62.1 percent to N66.1 billion from N40.8 billion recorded in 2016, while credit impairment surged 12.6 percent from N3.4 billion recorded in 2016 to N3.8 billion in 2017. However, the bank recorded N50.4 billion profit before tax in the first quarter of 2017, which is 64.3 percent higher than N39.7 billion recorded in 2016. Profit after tax stood at N41.5 billion, up from N25.6 billion recorded in the same quarter in 2016. Commenting on the results, analysts said: “Q1 2017 PBT o...
Gtbank Restores Normalcy And Resumes Operational Services Fully
News

Gtbank Restores Normalcy And Resumes Operational Services Fully

On 23rd of April Sunday, GTBank sent SMS messages and mails to GTBank account holders informing them of full operational services. This means that from today GTBank users can now run their various transactions without any hitch involved and even faster services.
Court Sets Date For Aderinokun’s Daughter’s Suit Against Gtbank
News

Court Sets Date For Aderinokun’s Daughter’s Suit Against Gtbank

The Federal High Court in Lagos on Friday adjourned further proceedings till March 28, 2017 in a suit filed against Guaranty Trust Bank and six others by Miss Oluwatise Aderinokun, daughter of a former Managing Director of GTBank, the late Olutayo Aderinokun. Eight-year-old Aderinokun, who sued through her mother, Mrs. Salamotu Aderinokun, alleged manipulation of her late father’s shares in GTBank. Joined as co-defendants with GTBank in the suit are Datamax Registrar Limited; Kanali Investments Limited; Day Waterman Company Limited; Caribod Investment Limited; Mr. Babatunwa Aderinokun; and Investment One Financial Services Limited. The young Aderinokun, in her suit, alleged that the defendants breached the implied contract between them and her late father, as regards the deceased’...
Zaki Ahmed’s Achievement In Rivers Within 1 Week As Commissioner
News

Zaki Ahmed’s Achievement In Rivers Within 1 Week As Commissioner

PRESS BRIEFING BY CP ZAKI M. AHMED HIGHLIGHTING THE ACHIEVEMENTS OF THE COMMAND A WEEK AFTER MY ASSUMING DUTY. 22ND MARCH,2017 GENTLEMEN OF THE PRESS: Let me sincerely appreciate you for your timely response to share with me the modest Achievements the Command has recorded a week after my assumption of duty as the Commissioner of Police Rivers State. You will recall vividly that in my maiden speech last week, I did not mince words when I told you that I am in the State to do the business of crime fighting and swore to bring crime and criminality to their barest minimum. Frankly I am not going back on my avowment. I will ensure that Rivers State must not be a safe haven for criminals. I have therefore hit the ground running with the following Achievements recorded upon my assumption of ...
Etisalat May Leave Nigeria Over $1.2bn Loan Default
News

Etisalat May Leave Nigeria Over $1.2bn Loan Default

  Abu Dhabi telecoms group, Etisalat, may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2bn loan, but wants the company’s debt restructured before it does so, Reuters quoted two sources as informing it on Monday. The Central Bank of Nigeria and the Nigerian Communications Commission on Friday agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis. Etisalat is due to meet with creditors on Tuesday (today) or Wednesday to discuss the default, the sources said. It was not clear whether Etisalat, which has a 45 per cent holding in the Nigerian unit after converting a loan to equity in February, would divest completely. The Senior Vice-President of Etisal...
CBN To Mop Up N310bn Through Treasury Bills
News

CBN To Mop Up N310bn Through Treasury Bills

CBN to mop up N310bn through treasury bills THE Central Bank of Nigeria (CBN) will this week mop up N310 billion through sales of treasury bills. Meanwhile, Demand for Nigeria’s Eurobond on the London Stock Exchange (LSE) persisted last week translating to price appreciation across tenors. Treasury bill sales In continuation of its liquidity management efforts, the CBN will sell treasury bills worth N310 billion this week comprising: 91-days bills worth N26.14 billion; 182-days bills worth N62 billion and 362 billion worth N222 billion. The treasury bills sales will offset the effect of maturing treasury bills worth N248 billion during the week. According to Afrinvest analysts, the treasury bill will be oversubscribed due to the attractive interest rates attached to each bill. ...
400 Schools Set To Participate In 2017 Gtbank Lagos Principals Cup
News

400 Schools Set To Participate In 2017 Gtbank Lagos Principals Cup

No fewer than 400 schools, comprising boys and girls teams will be participating in this year’s GTBank Lagos Principals Cup tournament kicking off this week. The tournament, the 8th in the series, is aimed at engaging the students through sports and also creating an avenue for the discovery of young talented footballers for the future. Speaking at the pre-tournament press conference Friday, a top official of GTBank, Oyinade Adegite said, apart from helping in identifying and nurturing budding talents, “the competition also promotes the core values of excellence and competition in the participating students.” The Managing Director of the bank, Segun Agbaje recalled that “this tournament has helped participating students to actualizing their dreams of becoming professional footballe...
Finally Gtbank Bans Use Of Their GT Mastercard On Paypal, Facebook, etc
News

Finally Gtbank Bans Use Of Their GT Mastercard On Paypal, Facebook, etc

Everyday a Nigerian child wakes up, he/she is faced with uncountable life-threatening challenges that questions his existence and survival on earth. Yesterday comes the shocker news for all Nigerian small business entrepreneurs who have been relying on GTBank Mastercard for their international monetary transactions, as the last-man-standing bank rolled out a complete ban of all international transactions on their Naira mastercard, including USD ($) payments, which directly means that Nigerians can no longer send money using paypal EVEN if it is $1!), as GTB, which happens to be the only Nigerian bank that allowed Nigerians to spend a maximum of $100 on POS, foreign ATMS and websites, using their GTB Naira Mastercard. For those who may argue this, please kindly visit GTB official custome...

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