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Sort Codes of GTBank Branches in Nigeria

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Sort Codes of GTBank Branches in Nigeria

By Dipo Olowookere

For those who are involved in the transfer of money online, they must have one time been asked to provide their bank’s sort code before the transaction can be completed.

This piece is aimed at providing the sort codes of Guaranty Trust Bank (GTBank) Plc branches nationwide.

A sort code, which is a six-digit number, identifies both the bank and the branch where the account is held. It is a code used to route money transfers between banks.

In our subsequent posts, we would provide sort codes of other banks operating in the country.

S/N BANK STATE BRANCH SORT CODE
1 GUARANTY TRUST BANK PLC ABIA ABA, ABA-OWERRI RD 058-235212
2 GUARANTY TRUST BANK PLC ABIA ABA, PORT HARCOURT ROAD 058-235225
3 GUARANTY TRUST BANK PLC ABIA UMUAHIA 058-237016
4 GUARANTY TRUST BANK PLC ABUJA ABUJA , WUSE II 058-083228
5 GUARANTY TRUST BANK PLC ABUJA ABUJA,  AREA 11 GARKI 058-083257
6 GUARANTY TRUST BANK PLC ABUJA ABUJA, ADETOKUNBO ADEMOLA CRESCENT 058-083299
7 GUARANTY TRUST BANK PLC ABUJA ABUJA, GARKI 058-083215
8 GUARANTY TRUST BANK PLC ABUJA ABUJA, GWAGWALADA 058-083244
9 GUARANTY TRUST BANK PLC ABUJA ABUJA, KUBWA 058-083273
10 GUARANTY TRUST BANK PLC ABUJA ABUJA, MAITAMA 058-083231
11 GUARANTY TRUST BANK PLC ABUJA ABUJA, NATIONAL ASSEMBLY 058-083260
12 GUARANTY TRUST BANK PLC ABUJA ABUJA, ULO PLAZA,WUSE ZONE 5 058-083309
13 GUARANTY TRUST BANK PLC ABUJA AMINU-KANO ABUJA 058-083286
14 GUARANTY TRUST BANK PLC ABUJA ASOKORO 058-083956
15 GUARANTY TRUST BANK PLC ABUJA CADASTRAL ZONE,CBD ABUJA 058-083969
16 GUARANTY TRUST BANK PLC ABUJA KAURA NAMODA 058-083972
17 GUARANTY TRUST BANK PLC ADAMAWA MUBI 058-098213
18 GUARANTY TRUST BANK PLC ADAMAWA YOLA 058-093616
19 GUARANTY TRUST BANK PLC ADAMAWA YOLA 058-093629
20 GUARANTY TRUST BANK PLC AKWA IBOM UYO 058-015513
21 GUARANTY TRUST BANK PLC ANAMBRA AWKA 058-027116
22 GUARANTY TRUST BANK PLC ANAMBRA NNEWI 058-025817
23 GUARANTY TRUST BANK PLC ANAMBRA ONITSHA 058-025118
24 GUARANTY TRUST BANK PLC ANAMBRA ONITSHA, NEW MARKET 058-025121
25 GUARANTY TRUST BANK PLC ANAMBRA BRIDGE HEAD 058-025134
26 GUARANTY TRUST BANK PLC ANAMBRA OLD CEMENTRY ROAD 058-025118
27 GUARANTY TRUST BANK PLC ANAMBRA NNAMDI AZIKWE UNIVERSITY 058-027129
28 GUARANTY TRUST BANK PLC ANAMBRA NNAMDI AZIKWE UNIVERSITY, AWKA 058-017126
29 GUARANTY TRUST BANK PLC ANAMBRA ONITSHA III – BRIDGE HEAD 058-025139
30 GUARANTY TRUST BANK PLC BAUCHI BAUCHI 058-036013
31 GUARANTY TRUST BANK PLC BAUCHI BAUCHI, AZARE 058-036026
32 GUARANTY TRUST BANK PLC BAYELSA YENAGOA 058-325410
33 GUARANTY TRUST BANK PLC BENUE MAKURDI 058-053818
34 GUARANTY TRUST BANK PLC BORNO MAIDUGURI 058-063413
35 GUARANTY TRUST BANK PLC BORNO MAIDUGURI, MONDAY MARKET ROAD 058-063426
36 GUARANTY TRUST BANK PLC BORNO UMTH,MAIDUGURI 058-063433
37 GUARANTY TRUST BANK PLC CROSS RIVER CALABAR 058-075618
38 GUARANTY TRUST BANK PLC CROSS RIVER IKOM 058-077412
39 GUARANTY TRUST BANK PLC DELTA AIRPORT ROAD, WARRI 058-244151
40 GUARANTY TRUST BANK PLC DELTA ASABA 058-244135
41 GUARANTY TRUST BANK PLC DELTA SAPELE 058-247310
42 GUARANTY TRUST BANK PLC DELTA WARRI 058-244119
43 GUARANTY TRUST BANK PLC DELTA DELSU ABRAKA 058-094178
44 GUARANTY TRUST BANK PLC EBONYI ABAKALIKI 058-335918
45 GUARANTY TRUST BANK PLC EDO AUCHI 058-447615
46 GUARANTY TRUST BANK PLC EDO BENIN V – IKPOBA HILLS 058-044254
47 GUARANTY TRUST BANK PLC EDO BENIN, AKPAKPAVA 058-044238
48 GUARANTY TRUST BANK PLC EDO BENIN, EKENWAN RD 058-044241
49 GUARANTY TRUST BANK PLC EDO BENIN, SAPELE ROAD 058-044128
50 GUARANTY TRUST BANK PLC EDO BENIN, USELU 058-044225
51 GUARANTY TRUST BANK PLC EDO BENIN 058-044267
52 GUARANTY TRUST BANK PLC EDO EKPOMA 058-244274
53 GUARANTY TRUST BANK PLC EKITI ADO-EKITI 058-184619
54 GUARANTY TRUST BANK PLC EKITI EKSU 058-184444
55 GUARANTY TRUST BANK PLC EKITI EKITI 058-034442
56 GUARANTY TRUST BANK PLC ENUGU ENUGU, OGUI ROAD 058-255315
57 GUARANTY TRUST BANK PLC ENUGU ENUGU, RANGERS 058-255328
58 GUARANTY TRUST BANK PLC ENUGU NSUKKA 058-257517
59 GUARANTY TRUST BANK PLC FCT APO 058-083930
60 GUARANTY TRUST BANK PLC FCT JABI 058-083943
61 GUARANTY TRUST BANK PLC GOMBE GOMBE 058-036217
62 GUARANTY TRUST BANK PLC IMO OKIGWE 058-105931
63 GUARANTY TRUST BANK PLC IMO ORLU 058-105928
64 GUARANTY TRUST BANK PLC IMO OWERRI 058-105711
65 GUARANTY TRUST BANK PLC IMO OWERRI 2 058-105724
66 GUARANTY TRUST BANK PLC JIGAWA DUTSE 058-266511
67 GUARANTY TRUST BANK PLC KADUNA KADUNA 058-113114
68 GUARANTY TRUST BANK PLC KADUNA KADUNA 4 (BARNAWA) 058-113143
69 GUARANTY TRUST BANK PLC KADUNA KADUNA, KANO ROAD 058-113130
70 GUARANTY TRUST BANK PLC KADUNA KADUNA, NNAMDI AZIKWE 058-113127
71 GUARANTY TRUST BANK PLC KADUNA ZARIA 058-118119
72 GUARANTY TRUST BANK PLC KADUNA NDA KADUNA 058-113156
73 GUARANTY TRUST BANK PLC KANO KANO 058-123010
74 GUARANTY TRUST BANK PLC KANO KANO, BACHIRAWA RD 058-123049
75 GUARANTY TRUST BANK PLC KANO KANO, BELLO ROAD 058-123036
76 GUARANTY TRUST BANK PLC KANO KANO, WAPA 058-123052
77 GUARANTY TRUST BANK PLC KANO KANO, ZARIA RD 058-123023
78 GUARANTY TRUST BANK PLC KANO KANO 058-123065
79 GUARANTY TRUST BANK PLC KATSINA KATSINA 058-133916
80 GUARANTY TRUST BANK PLC KEBBI BIRNIN KEBBI 058-276116
81 GUARANTY TRUST BANK PLC KOGI LOKOJA 058-286410
82 GUARANTY TRUST BANK PLC KOGI OBAJANA 058-288311
83 GUARANTY TRUST BANK PLC KOGI OKENE 058-288418
84 GUARANTY TRUST BANK PLC KWARA ILORIN 058-144439
85 GUARANTY TRUST BANK PLC KWARA ILORIN GRA 058-144426
86 GUARANTY TRUST BANK PLC KWARA ILORIN, UNITY ROAD 058-144413
87 GUARANTY TRUST BANK PLC KWARA OFFA 058-144714
88 GUARANTY TRUST BANK PLC KWARA KWARA POLY 058-144468
89 GUARANTY TRUST BANK PLC KWARA UNILORIN 058-144455
90 GUARANTY TRUST BANK PLC LAGOS ABULE EGBA 058-152489
91 GUARANTY TRUST BANK PLC LAGOS ADENIYI JONES 058-152434
92 GUARANTY TRUST BANK PLC LAGOS ADEOLA ODEKU 058-152094
93 GUARANTY TRUST BANK PLC LAGOS ADETOKUNBO ADEMOLA 058-152146
94 GUARANTY TRUST BANK PLC LAGOS AJAH 058-152272
95 GUARANTY TRUST BANK PLC LAGOS AJOSE ADEOGUN 058-152502
96 GUARANTY TRUST BANK PLC LAGOS AKIN ADESOLA 058-152052
97 GUARANTY TRUST BANK PLC LAGOS AKOWONJO 058-152366
98 GUARANTY TRUST BANK PLC LAGOS ALABA 058-152560
99 GUARANTY TRUST BANK PLC LAGOS ALAUSA 058-152340
100 GUARANTY TRUST BANK PLC LAGOS ALLEN 058-152023
101 GUARANTY TRUST BANK PLC LAGOS AMUWO ODOFIN 058-152599
102 GUARANTY TRUST BANK PLC LAGOS ANTHONY 058-152298
103 GUARANTY TRUST BANK PLC LAGOS APAPA, BURMA ROAD 058-152515
104 GUARANTY TRUST BANK PLC LAGOS APAPA, COMMERCIAL RD 058-152049
105 GUARANTY TRUST BANK PLC LAGOS APAPA, CREEK ROAD 058-152188
106 GUARANTY TRUST BANK PLC LAGOS ASPAMDA 058-152078
107 GUARANTY TRUST BANK PLC LAGOS BANK ANTHONY 058-152065
108 GUARANTY TRUST BANK PLC LAGOS BAYO KUKU 058-152586
109 GUARANTY TRUST BANK PLC LAGOS BROAD ST 058-152036
110 GUARANTY TRUST BANK PLC LAGOS CATHOLIC MISSION 058-152243
111 GUARANTY TRUST BANK PLC LAGOS CBD ALAUSA 058-152612
112 GUARANTY TRUST BANK PLC LAGOS CHEVRON DRIVE 058-152405
113 GUARANTY TRUST BANK PLC LAGOS COMPUTER VILLAGE,IKEJA 058-152573
114 GUARANTY TRUST BANK PLC LAGOS DIYA GBAGADA 058-152528
115 GUARANTY TRUST BANK PLC LAGOS EGBEDA, IDIMU RD 058-152450
116 GUARANTY TRUST BANK PLC LAGOS FESTAC 058-152269
117 GUARANTY TRUST BANK PLC LAGOS IBAFO 058-152201
118 GUARANTY TRUST BANK PLC LAGOS IDI-ORO 058-152418
119 GUARANTY TRUST BANK PLC LAGOS IDUMOTA 058-152421
120 GUARANTY TRUST BANK PLC LAGOS IKORODU 058-152324
121 GUARANTY TRUST BANK PLC LAGOS IKORODU 058-152625
122 GUARANTY TRUST BANK PLC LAGOS IKOSI 058-152230
123 GUARANTY TRUST BANK PLC LAGOS IKOYI 058-152081
124 GUARANTY TRUST BANK PLC LAGOS IKOYI 2 058-152531
125 GUARANTY TRUST BANK PLC LAGOS ILUPEJU 058-152104
126 GUARANTY TRUST BANK PLC LAGOS ISOLO 058-152379
127 GUARANTY TRUST BANK PLC LAGOS ISOLO, AIRPORT ROAD 058-152227
128 GUARANTY TRUST BANK PLC LAGOS KETU 058-152395
129 GUARANTY TRUST BANK PLC LAGOS LASU 058-152544
130 GUARANTY TRUST BANK PLC LAGOS LAWANSON 058-152557
131 GUARANTY TRUST BANK PLC LAGOS LEKKI 058-152159
132 GUARANTY TRUST BANK PLC LAGOS LUTH 058-152308
133 GUARANTY TRUST BANK PLC LAGOS MAGODO 058-152638
134 GUARANTY TRUST BANK PLC LAGOS ITIRE 058-152641
135 GUARANTY TRUST BANK PLC LAGOS MARINA 058-152162
136 GUARANTY TRUST BANK PLC LAGOS MATORI 058-152447
137 GUARANTY TRUST BANK PLC LAGOS MOLONEY 058-152463
138 GUARANTY TRUST BANK PLC LAGOS MUSHIN 058-152256
139 GUARANTY TRUST BANK PLC LAGOS OBA AKRAN 058-152120
140 GUARANTY TRUST BANK PLC LAGOS OBA AKRAN, BERGERPAINTS 058-152382
141 GUARANTY TRUST BANK PLC LAGOS OGBA 058-152175
142 GUARANTY TRUST BANK PLC LAGOS OJODU 058-152492
143 GUARANTY TRUST BANK PLC LAGOS OJUELEGBA 058-152311
144 GUARANTY TRUST BANK PLC LAGOS OKE-ARIN 058-152476
145 GUARANTY TRUST BANK PLC LAGOS OKOTA 058-152337
146 GUARANTY TRUST BANK PLC LAGOS ONIPANU 058-152353
147 GUARANTY TRUST BANK PLC LAGOS OPEBI 058-152214
148 GUARANTY TRUST BANK PLC LAGOS OREGUN 058-152117
149 GUARANTY TRUST BANK PLC LAGOS PLAZA 058-152010
150 GUARANTY TRUST BANK PLC LAGOS ST GREGORY 058-152609
151 GUARANTY TRUST BANK PLC LAGOS BODE THOMAS 1 058-152133
152 GUARANTY TRUST BANK PLC LAGOS BODE THOMAS 2 058-152670
153 GUARANTY TRUST BANK PLC LAGOS TIAMIYU SAVAGE 058-152285
154 GUARANTY TRUST BANK PLC LAGOS YABA 058-152191
155 GUARANTY TRUST BANK PLC LAGOS PLURAL HOUSE 058-152654
156 GUARANTY TRUST BANK PLC LAGOS IKOTA 058-152696
157 GUARANTY TRUST BANK PLC LAGOS IKOTUN BRANCH 058-152706
158 GUARANTY TRUST BANK PLC LAGOS WESTERN AVENUE 058-152683
159 GUARANTY TRUST BANK PLC LAGOS CELE – IJESHA 058-152719
160 GUARANTY TRUST BANK PLC LAGOS ABULE EGBA 2 058-023266
161 GUARANTY TRUST BANK PLC LAGOS APAPA, DUOLLA ROAD 058-152883
162 GUARANTY TRUST BANK PLC LAGOS EGBE ROAD 058-152845
163 GUARANTY TRUST BANK PLC LAGOS FESTAC 2 058-152777
164 GUARANTY TRUST BANK PLC LAGOS INTL AIRPORT RD 2 058-152722
165 GUARANTY TRUST BANK PLC LAGOS IPAJA 058-152764
166 GUARANTY TRUST BANK PLC LAGOS LASPOTECH 058-152829
167 GUARANTY TRUST BANK PLC LAGOS MASHA 058-153006
168 GUARANTY TRUST BANK PLC LAGOS OGBA 2 058-152942
169 GUARANTY TRUST BANK PLC LAGOS ORILE COKER 058-152748
170 GUARANTY TRUST BANK PLC LAGOS UNILAG 058-152751
171 GUARANTY TRUST BANK PLC LAGOS IJU 058-152890
172 GUARANTY TRUST BANK PLC LAGOS LAUTECH 058-199112
173 GUARANTY TRUST BANK PLC NASARAWA KARU 058-206911
174 GUARANTY TRUST BANK PLC NASARAWA LAFIA 058-206814
175 GUARANTY TRUST BANK PLC NIGER KONTAGORA 058-168017
176 GUARANTY TRUST BANK PLC NIGER MINNA 058-163711
177 GUARANTY TRUST BANK PLC OGUN ABEOKUTA 058-174218
178 GUARANTY TRUST BANK PLC OGUN ABEOKUTA, ASERO 058-179077
179 GUARANTY TRUST BANK PLC OGUN ABEOKUTA, UNAAB 058-179064
180 GUARANTY TRUST BANK PLC OGUN AGBARA 058-179080
181 GUARANTY TRUST BANK PLC OGUN IJEBU ODE 058-179048
182 GUARANTY TRUST BANK PLC OGUN OOU AGO-IWOYE,OGUN STATE 058-174144
183 GUARANTY TRUST BANK PLC OGUN SAGAMU 058-179035
184 GUARANTY TRUST BANK PLC OGUN SANGO OTTA 058-174810
185 GUARANTY TRUST BANK PLC OGUN RCCG 058-179129
186 GUARANTY TRUST BANK PLC OGUN BABCOCK 058-174823
187 GUARANTY TRUST BANK PLC ONDO AKURE 058-184318
188 GUARANTY TRUST BANK PLC ONDO FUTA 058-184321
189 GUARANTY TRUST BANK PLC ONDO ONDO 058-184334
190 GUARANTY TRUST BANK PLC OSUN ILE-IFE 058-294910
191 GUARANTY TRUST BANK PLC OSUN ILESA 058-299012
192 GUARANTY TRUST BANK PLC OSUN O.A.U ILE-IFE 058-294923
193 GUARANTY TRUST BANK PLC OSUN OSOGBO 058-294512
194 GUARANTY TRUST BANK PLC OYO IBADAN, APATA 058-194049
195 GUARANTY TRUST BANK PLC OYO IBADAN, BODIJA 058-194023
196 GUARANTY TRUST BANK PLC OYO IBADAN, CHALLENGE 058-194065
197 GUARANTY TRUST BANK PLC OYO IBADAN, DUGBE 058-194010
198 GUARANTY TRUST BANK PLC OYO IBADAN, MOKOLA 058-194052
199 GUARANTY TRUST BANK PLC OYO IBADAN, RING ROAD 058-194036
200 GUARANTY TRUST BANK PLC OYO OGBOMOSO 058-199028
201 GUARANTY TRUST BANK PLC OYO OYO 058-199057
202 GUARANTY TRUST BANK PLC PLATEAU JOS, AHMADU BELLO WAY 058-203325
203 GUARANTY TRUST BANK PLC PLATEAU JOS, JENGRE ROAD 058-203312
204 GUARANTY TRUST BANK PLC RIVERS BONNY ISLAND 058-217214
205 GUARANTY TRUST BANK PLC RIVERS PORTHARCOURT, ABA RD 058-215025
206 GUARANTY TRUST BANK PLC RIVERS PORTHARCOURT, AZIKIWE RD 058-215041
207 GUARANTY TRUST BANK PLC RIVERS PORTHARCOURT, EAST WEST RD 058-215054
208 GUARANTY TRUST BANK PLC RIVERS PORTHARCOURT, INDUSTRIAL LAYOUT 058-215070
209 GUARANTY TRUST BANK PLC RIVERS PORTHARCOURT, SHELL RA 058-215038
210 GUARANTY TRUST BANK PLC RIVERS PORTHARCOURT,TRANS AMADI 058-215012
211 GUARANTY TRUST BANK PLC RIVERS PORTHARCOUT, IKWERRE ROAD 058-215067
212 GUARANTY TRUST BANK PLC RIVERS PORTHARCOUT, NTA ROAD MGBUOBA 058-215083
213 GUARANTY TRUST BANK PLC RIVERS NAOC 058-215096
214 GUARANTY TRUST BANK PLC RIVERS RVSG Secretariat 058-215944
215 GUARANTY TRUST BANK PLC RIVERS ABA ROAD PH E-BRANCH (Reports to 502) 058-023600
216 GUARANTY TRUST BANK PLC SOKOTO SOKOTO 058-223512
217 GUARANTY TRUST BANK PLC SOKOTO SOKOTO, MAIDUGURI ROAD 058-223525
218 GUARANTY TRUST BANK PLC SOKOTO USMAN DAN FODIO 058-223538
219 GUARANTY TRUST BANK PLC TARABA JALINGO 058-306617
220 GUARANTY TRUST BANK PLC TARABA WUKARI 058-308518
221 GUARANTY TRUST BANK PLC YOBE DAMATURU 058-316717
222 GUARANTY TRUST BANK PLC ZAMFARA GUSAU 058-326312

 

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Banking

First Bank Reacts to Rumoured ‘Acquisition’ by Otedola

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First Bank Otedola

By Dipo Olowookere

One of the news items that has dominated the business space in the past few days is the rumoured takeover of FBN Holdings Plc, the parent company of First Bank of Nigeria (FBN) Limited, by Mr Femi Otedola, a businessman in the country.

It was reported that he has ‘acquired’ the lender by pumping about N30 billion into the shares of the company at the stock market, making him the single largest shareholder.

This was linked to the recent rise in the trading volume and value of FBN Holdings equities at the Nigerian Exchange (NGX) Limited, which has spurred questions from various quarters.

But in a statement issued on Friday, the management of FBNH said it was not aware of the businessman emerging as its new shareholder, though it pointed out this could have happened as its shares are always available for purchase at the market by anybody.

In the notice signed by the company secretary, Seye Kosoko, the bank said once it receives notification from Mr Otedola, it will promptly inform the regulators about it as required.

“The attention of FBN Holdings has been drawn to media reports today, October 2021, purporting that a certain individual has acquired a significant shareholding interest in FBN Holdings, therefore making him the majority shareholder of the company.

“As a listed company, shares of FBN Holdings are publicly traded and sale and acquisition of shares are expected in the normal course of business. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.

“The company is yet to receive any notification from the individual mentioned in the media report of such acquisition. FBN Holdings will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholdings by the shareholders and the company’s registrars,” the disclosure read.

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Banking

Femi Otedola Quietly Takes Over First Bank

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Femi Otedola First Bank FBN Holdings

By Aduragbemi Omiyale

There are reports that a billionaire businessman, Mr Femi Otedola, is coming back into the capital market on a big scale a few years after he offloaded his stake in Forte Oil, 75 per cent, which later became Ardova Plc under its new owners.

It is believed that business mogul has pounced on the crisis at FBN Holdings Plc, the parent company of First Bank of Nigeria Limited, which also recently had a board crisis, to take over the company.

According to reports, which is yet to be independently verified by Business Post, Mr Otedola, son of a late Governor of Lagos State, Sir Michael Otedola, is now the single majority shareholder of the first generation lender in Nigeria.

He is said to have acquired N30 billion worth of the company’s equities at the Nigerian Exchange (NGX) Limited, where the firm is listed.

In recent times, there has been an upward movement in the share price of FBN Holdings at the stock market and this has raised many eyebrows as some investors were asking what was driving the hike.

Mr Otedola is not new to the boardroom and it is believed that his entry into the banking space would cause a disruption and make him rub shoulders with renowned bankers like Mr Jim Ovia of Zenith Bank Plc, Tony Elumelu of United Bank for Africa (UBA), amongst others.

Some months ago, many observers were shocked when the Central Bank of Nigeria (CBN) sacked the boards of FBN Holdings and First Bank of Nigeria Limited and it was learnt that the financial institution has been on the life-support of the regulator.

The FBN Holdings board led by businessman, Mr Oba Otudeko was asked to leave and the CBN further ordered the bank to ensure that the debts owed by the directors, including Mr Otudeko, who sits on the board of Honeywell Flour Mills Plc, should be recovered.

A few months after this directive, shares of FBN Holdings and Honeywell have enjoyed a significant rise in value, causing people to ask questions.

If the latest information is correct, it would mean that Mr Otedola was likely the reason for the uptick witnessed in First Bank stocks at the exchange lately.

It means he will have a good representation on the board of the lender and turn its fortunes around.

First Bank is yet to officially inform the investing public about this development.

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Banking

Heritage Bank in Debt Crisis, Reps May Order CBN Takeover

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Heritage Bank CEO Ifie Sekibo

By Aduragbemi Omiyale

The banking industry in Nigeria may be plunged into another crisis if urgent steps are not quickly taken to address the issue so as to douse the looming tension.

Business Post reports that a few years ago, precisely in 2018, depositors and shareholders of Skye Bank were in a panic mood after the Central Bank of Nigeria (CBN) nationalised the lender to Polaris Bank Limited because of debts and the House of Representatives on Thursday raised an alarm that another financial institution, Heritage Bank, is allegedly swimming in huge debts.

The lower chamber of the National Assembly had invited the bank and its Managing Director, Mr Ifie Sekibo, to explain why the amount the company owes the federal government is more than its share capital, but he has failed to honour the request.

This action has infuriated the parliament, which has threatened to direct the CBN to take over the ownership of Heritage Bank if Mr Sekibo and the bank ignore their latest invite next Wednesday.

Mr Adejoro Adeogun, Chairman of the Adhoc Committee on Assessment and Status of All Recovered Loots, Moveable and immovable Assets from 2002 to 2020 by agencies of the federal government for Effective and Efficient Management and Utilisation, issued this threat at the resumed hearing of the committee yesterday.

“I need to send this message to Heritage Bank that we are not comedians here and we are not joking here. If Heritage Bank owes Nigeria more than its share capital, we will not hesitate to ask the National Assembly to write to CBN to take over Heritage Bank.

“They cannot be owing more than their share capital and feel too big to respond to invitations from the National Assembly. Clerk, you have to write them, give them till Wednesday next week. That is the last time we are going to give them,” an angry Mr Adeogun barked.

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