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VIDEO: GICN Apologises to GTBank, Retracts Corruption Allegations

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Edward Omaga GICN Apologises to GTBank

By Modupe Gbadeyanka

A civil society organisation, Global Integrity Crusade Network (GICN), has apologised to Guaranty Trust Bank (GTBank) Limited, a subsidiary of Guaranty Trust Holding Company Plc, for making false corruption allegations against the bank.

In a statement made available to Blueprint in Abuja on Tuesday, signed by President of the organisation, Mr Edward Omaga, the group also retracted allegations of corruption and unwholesome activities made in a Private Investigation Report (PIR) against the lender.

Mr Omaga noted that he presented the PIR to the media on October 3, 2024, and later submitted same to certain agencies in Nigeria, the United Kingdom, the United States, and Ghana for further action.

He said the documents relied upon to compile the PIR were obtained from the internet, were baseless, and do not depict the true state of affairs about GTBank Limited and its management.

“In other words, the position taken by Global Integrity Crusade Network in the PIR was misguided. It has become clear that Guaranty Trust Bank Limited, its management and the entire GTCO brand are not under any financial or regulatory scrutiny in Nigeria or abroad as alleged.

“The issues raised about Unsolicited Accounts Opening for customers were unnecessary, as the bank operates in line with the highest standards of compliance and due process, whilst preventing the breach of data privacy laws,” he said.

On the issue of profit declaration for the period ended June 30, 2024, Mr Omaga stated that records abound to show that GTBank Limited fully complied with the applicable legal requirements of the Central Bank of Nigeria (CBN), Financial Reporting Council of Nigeria (FRCN) as well as the Securities and Exchange Commission (SEC).

“It was therefore not appropriate for GICN to query the Audited Consolidated and Separate Financial Statements for the period ended June 30, 2024, released by GTCO Plc to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

“In the same vein, the corporate image and integrity of GTB Limited remains intact in foreign countries where it carries on business.

“The financial penalties paid in the United Kingdom by Guaranty Trust Bank (UK) Limited coupled with the suspension of its Foreign Exchange Trading License in Ghana were minor regulatory issues, which have been sorted out long time ago.

“The group wishes to sincerely apologize through this medium for misleading the public towards having any negative perception about GTBank Limited.

“Specifically, GICN implores Mr. Segun Julius Agbaje, being the Group Chief Executive Officer of GTCO Plc, to forgive its shortcomings and consider the group as a partner in the sustained drive of the bank to provide quality financial services across Nigeria, Africa and the world at large.

“In keeping with its resolve to set the records straight, the group had on Thursday, February 27, 2025, written to withdraw the PIR and all court cases relating to this matter,” he added.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Banking

Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0

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Squad logo

By Dipo Olowookere

Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.

The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.

The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.

Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.

It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.

 “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.

“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.

“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.

“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.

The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.

Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.

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Banking

Easter: Ecobank Assures Customers Uninterrupted Banking Services

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Ecobank Remodel branches

By Dipo Olowookere

Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.

In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.

It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.

All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.

Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.

They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.

“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.

“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.

“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.

Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”

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Banking

Polaris Bank to Limit Access to VULTe for Four Days

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Polaris Bank Fashion Souk

By Dipo Olowookere

Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.

This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.

In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.

Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.

“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.

“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:

“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).

“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.

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