Why is Guaranty Trust Bank always mentioned in most business deals that go bad or nasty these days? That was not the case before. In the past, one hardly heard the bank involve in nasty contracts with customers. It used to have a wonderful relationship with its customers.

In 2010, Hi Media Ltd (owner of HiTv) lost the English Premier League to Multichoice because the bank was not able to provide bank guaranty to Hi Media. That EPL loss made Hi Media to speedily go down, gasping for breath. The next year, GTB obtained a court order to take over Hi Media. Consequently, the Nigerian-owned HITV died with the hundreds of jobs and all the investment, giving way to South African Multichoice (owner of DSTV) to have a monopoly, increasing fees at will and treating Nigerians anyhow.

In 2012 when Bi-Courtney lost the concession for the construction of the Lagos-Ibadan Expressway, GTB was mentioned in the deal.

In 2014, GTB gave the court incomplete information and got an ex parte motion to freeze all the bank accounts of Nigeria’s first indigenous automaker, Innoson Group, in 18 banks. Its mission was to kill the company and the thousands of jobs it provides. That lasted for 9 months, until a court vacated that ill-informed motion in June this year and awarded Innoson damages amounting to over 5 billion naira for all that it lost. A small company would have died if subjected to such harrowing experience. In addition, GTB had made some illegal and secret deductions of about 700 million naira from Innoson’s account with them, which Innoson only found out when it audited its account.

In 2013, GTB secured a court order shutting down BSS Steel Rolling Mills Ltd, Abese, Ogun State, and the company remained under lock and key from November 28, 2013 to May 15, 2015 (2 years) when the company was able to vacate the order through a Federal High Court in Lagos. What was such a shutdown meant to achieve? Life or death to such a company and the jobs it provides?

Remember the young man in the video that went into his GTB branch and stripped down to his underpants in protest over the illegal deductions made by GTB on his account, creating a scene and bank PR for the bank?

There are many more examples of these attempts to wreck businesses and dreams. This is not what GTB was known for in the past. But these days, it seems to be commonplace.

What has happened to GTB? Tayo Aderinokun will be turning in his grave. Fola Adeola will be gnashing his teeth over what their beautiful brand has become.

I don't really know what is wrong with GTbank this day.

In their good days (not any more), i can't remember number of people i had one on one
evangelized the good tidings of GTbank ( those days) and as a result opened accounts with them.

Nowadays GTbank is first to implement any CBN obnoxious policies such as dollarization.


Now i am having my international inflow foreign exchange deposit hanging with GTbank.

I guess it is time to change bank and bid GTbank bye.

Gt bank is living on Old glory.

Yes. it is anti-business because when you compare its products to other banks, it doesnt really cater much for the premium user.

GTBank is really fucking up this days..make i dey observe the toll here before i move all my cash to first bank

I thought I am the only one seeing this before until I storm this thread

Gtbank

GTBank is now a full time anti business..

Imagine, I wanted to make an international payment of about $300 with my Mastercard and was told I cannot make such payments! That GTbank from CBN policy does not encourage such transaction. I had to ask if its their money or mine? I transfered my money to ACCESS BANK which allowed me to make transactions of over $1,000!

I don't know whaT has happened to Gtb. It seems the new MD Segun Agbaje does not understand the GTBank's culture. The bank no be am again.