The Global Integrity Crusade Network (GICN), a civil society organisation, has withdrawn its earlier allegations of corruption and misconduct against Guaranty Trust Bank (GTB) Limited, a subsidiary of Guaranty Trust Holding Company Plc (GTCO).
In a statement released Tuesday in Abuja, signed by its President, Edward Omaga Esq., GICN admitted that the Private Investigation Report (PIR) it presented to the media on October 3, 2024, and submitted to agencies in Nigeria, the UK, USA, and Ghana was based on unverified information obtained from the internet.
Omaga clarified that the claims made in the PIR were baseless and did not reflect the true state of affairs of GTB Limited and its management.
“The position taken by GICN in the PIR was misguided. It has become clear that GTB Limited, its management, and the entire GTCO brand are not under any financial or regulatory scrutiny in Nigeria or abroad as alleged,” he stated.
He further explained that the bank’s unsolicited account opening processes adhered to the highest standards of compliance and due process, with strict adherence to data privacy laws.
Regarding profit declaration for the period ending June 30, 2024, Omaga affirmed that GTB Limited fully complied with the regulations of the Central Bank of Nigeria (CBN), Financial Reporting Council of Nigeria (FRCN), and the Securities and Exchange Commission (SEC).
“The corporate image and integrity of GTB Limited remain intact in all countries where it operates,” he added.
GICN extended an apology to the public and implored GTCO’s Group Chief Executive Officer, Mr. Segun Julius Agbaje, to forgive the group’s shortcomings, pledged its commitment to supporting the bank’s mission of providing quality financial services globally.
The group confirmed that it had officially withdrawn the PIR and all related court cases on February 27, 2025.
