Banking
GTBank Leading the Way: Restoring Trust and Setting New Standards in Banking
By Gboyega Adesegun
Guaranty Trust Bank (GTBank) has once again demonstrated its knack for innovation and customer-centric solutions, solidifying its place as a leader in Nigeria’s banking sector. While the industry faces challenges from fluctuating economic conditions to evolving customer demands, GTBank’s forward-thinking initiatives continue to set the standard for excellence.
In recent months, the financial institution has made bold strides, with its most recent move being the removal of Point of Sale (POS) charges. This decision, warmly received by small business owners, entrepreneurs, and everyday Nigerians, underscores the bank’s commitment to supporting financial inclusion and easing the cost of transactions in a cash-driven economy.
“Our decision to eliminate POS charges stems from a deep understanding of our customers’ needs. We want to make banking as seamless and cost-effective as possible,” said a spokesperson for the bank. “The goal is to ensure that our customers can carry out transactions without worrying about extra fees, especially in this tough economic climate.”
Beyond transactional relief, GTBank has also focused on community-driven initiatives, from educational support programs to funding healthcare projects. The bank’s Corporate Social Responsibility (CSR) strategy is not merely a box-ticking exercise but a genuine effort to contribute positively to society. During the recent back-to-school season, GTBank sponsored educational materials and facilities for underserved schools across the country, a gesture that was met with praise from educators and parents alike.
Industry analysts note that GTBank’s approach to banking goes beyond profits. “The bank has managed to blend financial growth with social impact, which is rare,” commented an economic analyst. “Their strategies are not only about increasing their bottom line but also about lifting the communities they serve.”
As digital banking continues to take center stage, GTBank has also enhanced its technology-driven services. The bank’s mobile app and online banking platforms are frequently updated to ensure security, ease of use, and innovative features that cater to both tech-savvy youths and traditional customers. This balance of technology and personal touch has helped GTBank maintain its status as a household name in Nigerian banking.
Perhaps most noteworthy is GTBank’s resilience in the face of adversity. While the banking sector has had its share of controversies, GTBank’s ability to navigate through challenges with transparency and integrity has helped restore confidence among stakeholders. The bank’s leadership, under the guidance of Segun Agbaje, has maintained a clear focus on ethical practices and building lasting relationships with customers.
Looking ahead, GTBank’s vision remains clear: to continue being a trusted financial partner to millions of Nigerians. By keeping an ear to the ground and responding proactively to market needs, the bank is not just surviving in a competitive market—it is thriving.
In a time when positive stories are rare, GTBank’s consistent delivery of value and integrity offers a refreshing narrative of what is possible when business acumen meets social consciousness. As Nigeria navigates its economic realities, institutions like GTBank show that success is not just about numbers but also about making tangible differences in people’s lives.
Gboyega Adesegun writes from Lagos
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria anticipates remittances from citizens living abroad to increase by two-thirds in 2026 as it seeks to bolster its foreign-exchange reserves to $1 billion monthly.
“We are expecting that by the end of the year, we will hit about a billion Dollars a month from diaspora remittances,” he said at the 14th Annual BusinessDay CEO Forum in Lagos on Thursday, themed From Stability to Shared Prosperity.
Mr Cardoso said remittances are expected to be boosted from more than $600 million currently, banking on the CBN’s deliberate target at remittances to diversify reserve sources beyond oil earnings.
According to him, the apex bank engaged Nigerians abroad, banks and international partners to identify barriers to official remittance flows.
He said the lender subsequently reviewed policies to ensure easier movement of funds into and out of the country.
Mr Cardoso described the approach as providing free entry and free exit for foreign exchange.
He said the reforms helped double diaspora inflows within one year and exceeded initial expectations, also projecting annual remittances could reach about $8 billion if the current momentum was sustained, adding that the development reflected growing confidence in Nigeria’s financial system and foreign exchange market.
Mr Cardoso said reforms introduced by the apex bank had restored stability in the foreign exchange market and improved investors’ confidence.
He identified exchange rate unification as one of the central bank’s major achievements under the reforms programme.
According to him, replacing multiple exchange rate windows with a market-driven system eliminated distortions and improved transparency.
Mr Cardoso said improved foreign exchange liquidity and stronger reserves were among the gains from the reforms.
He said Nigeria’s net external reserves had risen from about $3 billion at the start of the reforms to above $40 billion currently, noting that gross external reserves had grown to about $52 billion, representing about 10 months of import cover.
According to him, the reserves are designed to shield the economy from external shocks and excessive market volatility.
He said the reserves were not meant for routine interventions or day-to-day exchange rate management.
By Modupe Gbadeyanka
The flagship banking subsidiary of Guaranty Trust Holding Company (GTCO) Plc, Guaranty Trust Bank (GTBank) Limited, has been announced as the winner of Nigeria’s Best Digital Bank award at the Euromoney Awards for Excellence 2026.
The lender clinched this accolade at the Euromoney Awards for Excellence 2026 ceremony, held on July 17, 2026, at The Peninsula London, England, for its outstanding performance, innovation, customer service, and leadership.
GTBank’s recognition as Nigeria’s Best Digital Bank reflects its continued leadership in digital innovation and its commitment to delivering seamless, secure, and customer-centric financial solutions.
As the banking franchise of GTCO, GTBank has consistently set industry benchmarks in digital transformation, pioneering solutions that have redefined how individuals and businesses access, manage, and experience financial services.
Over the years, GTBank has transformed the banking experience through a suite of innovative digital platforms, including the GTWORLD mobile app and solutions that provide millions of customers with seamless, secure, and convenient access to financial services.
The bank continues to strengthen its digital capabilities by introducing products and services that meet evolving customer needs while maintaining the highest standards of security, reliability, and service excellence.
This latest recognition underscores the company’s position as a market leader and reflects its sustained investment in technology, operational excellence, and innovation.
“This recognition is a testament to the legacy upon which GTBank was built and the vision that continues to guide us today.
“From inception, our goal has been to deliver on the Group’s vision to make end-to-end financial services accessible to everyone by leveraging technology to remove barriers, simplify experiences, and create meaningful value for our customers,” the chief executive of GTBank, Mrs Miriam Olusanya, stated.
“While we are honoured by this recognition, we see it as an acknowledgement of what we have achieved and a motivation to do even more.
“We remain focused on raising the bar for digital banking, investing in innovative solutions, and delivering exceptional experiences that create lasting value for our customers.
“As the financial services landscape continues to evolve, we will continue to innovate, adapt, and lead with the same commitment to excellence that has defined our franchise for decades,” she added.
The Euromoney Awards for Excellence 2026 convened leading financial institutions, industry executives, and policymakers from across the globe to celebrate excellence, innovation, and leadership in the financial services sector.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
