Banking
GTBank Offers Customers 2.95% on Quick Airtime Loan Via *737*90# Code
By Modupe Gbadeyanka
Customers of Guaranty Trust Bank (GTBank) Limited in need of quick airtime on their phones for payment later can now do so at an interest rate of 2.95 per cent.
The flagship banking franchise of GTCO Plc, in a statement, said this innovative digital solution gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring they can stay connected when it matters most.
The service known as the Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group.
Leveraging HabariPay’s Squad, the solution reinforces the group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
The Quick Airtime Loan service was created to help customers address missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight and options are limited.
The product offers users instant access to airtime on credit, directly from their bank.
With Quick Airtime Loan, eligible GTBank customers can access from N100 and up to N10,000 by dialling *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15 per cent, but GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95 per cent.
Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
“Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs.
“The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience.
“By leveraging unique strengths across the Group, we can accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels,” the Managing Director of GTBank, Ms Miriam Olusanya, commented.
By Aduragbemi Omiyale
Eligible innovators, financial institutions, Virtual Asset Service Providers (VASPs), financial technology (fintech) companies, and technology firms have been invited to apply for the second cohort of the Central Bank of Nigeria (CBN) Regulatory Sandbox Programme.
A statement signed by the acting Director of Corporate Communications and Investor Relations Department of the apex bank, Mrs Hakama Sidi-Ali, disclosed that entries opened on Wednesday, August 12, 2026, and will close on Monday, August 31, 2026.
Cohort 2 of the initiative introduces two dedicated testing tracks to support emerging technologies with the potential to strengthen Nigeria’s financial system while upholding high standards of consumer protection, financial stability, and market integrity.
According to the central bank, the two tracks are VASP and Data-Enabled Financial Services (Non-VASP).
VASP track is to support innovative virtual asset, stablecoin, payment, settlement, custody, wallet, and related financial infrastructure solutions that require supervised live testing, while the non-VASP track supports innovations that leverage secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency, and consumer outcomes.
The CBN Regulatory Sandbox provides a controlled environment in which eligible participants may test innovative financial products, services, business models, and enabling technologies under the supervision of the CBN.
The programme enables the CBN and innovators to engage constructively throughout the testing process, supporting regulatory learning while encouraging responsible innovation that benefits consumers and the wider financial system.
Eligible organisations whose proposed innovations fall within the programme’s scope are encouraged to apply.
Applications will be assessed based on the level of innovation, readiness for controlled live testing, potential consumer or market benefit, governance arrangements, risk management capability, and the suitability of the proposed testing plan.
Successful participants will undertake supervised testing within clearly defined parameters agreed with the CBN, including appropriate safeguards for consumer protection, operational resilience, cybersecurity, and regulatory reporting.
The central bank emphasised that participation in the scheme does not constitute a licence, authorisation, or approval to operate outside the approved testing parameters.
It noted that the Sandbox is intended to facilitate responsible experimentation, strengthen regulatory engagement, and support evidence-based policy development in line with the CBN’s statutory mandate.
By Aduragbemi Omiyale
The international spending limit on the GTBank Naira card has been increased by the financial institution to $40,000.
This information was revealed by the lender in an email to customers on Tuesday, August 11, 2026.
The banking subsidiary of GTCO Plc disclosed that the new offshore spending limit is for a quarter.
This development comes as the Nigerian foreign exchange (FX) market is witnessing stability against the United States Dollar.
The forex volatility experienced a few years ago has eased, allowing companies and others to plan within a reasonable exchange rate band.
“The Dollar limit on your GTBank Naira Card is now $40,000 quarterly,” the tier-1 commercial bank said in the message sighted by Business Post.
Improvement in forex liquidity in the domestic FX ecosystem has allowed Nigerians to use their local cards to complete financial transactions on foreign platforms, which was not possible a few years ago because of Dollar scarcity and arbitrage.
At the official market on Tuesday, the exchange rate closed at N1,364/$1. It was exchanged at N1,367/$1 at the GTBank FX desk and N1,395/$1 at the parallel market.
By Adedapo Adesanya
The Nigeria Data Protection Commission (NDPC) is investigating the University of Lagos, Lotus Bank, and Hackerbella Limited over alleged violations of data protection laws.
The probe followed public complaints alleging that students’ personal data was used to open bank accounts without a lawful basis.
The NDPC disclosed this in a statement signed by its Head of Legal, Enforcement and Regulations, Mr Babatunde Bamigboye, on behalf of the commission.
According to the commission, its chief executive, Mr Vincent Olatunji, directed the investigation team to conduct a comprehensive assessment of the circumstances surrounding the collection, use and disclosure of the affected students’ personal data.
The investigation will also determine the roles and responsibilities of the university, the bank, and the information technology solutions firm in the alleged data processing activities.
The NDPC said the probe would assess the compliance obligations of the three organisations under the Nigeria Data Protection Act, 2023, as well as the potential risks posed to the rights and freedoms of the affected students.
The commission said the investigation would cover several areas, including Data Protection Impact Assessments, the lawfulness and transparency of credit scoring or profiling activities, automated decision-making systems, privacy notices and data-sharing arrangements.
It will also examine the lawful bases for processing the students’ information, data minimisation, purpose limitation, retention policies and the adequacy of technical and organisational safeguards for protecting data subjects’ rights.
The commission stressed that institutions handling the personal information of students, staff and other members of their communities have a greater responsibility to ensure such data is properly protected.
“Institutions entrusted with the personal data of students, staff and other members of their communities have a heightened responsibility to ensure that such data is processed lawfully, fairly, transparently and securely,” the NDPC said.
The commission also warned educational institutions that have yet to comply with its existing data protection directives to take immediate steps to meet the required standards.
“Accordingly, the NDPC warns educational institutions that are yet to comply with its existing data protection compliance directives to do so immediately,” the statement added.
