Abuja: Protesters Demand Investigation into GTBank over Fraud Allegations

ABUJA — Hundreds of protesters gathered outside the Nigeria Police Force Headquarters in Abuja on Tuesday, October 15, 2024 calling for an immediate investigation into serious allegations against Guaranty Trust Bank Limited, also known by its brand name, GTBank.

Organised by the Coalition of Civil Society for Good Governance in Nigeria, the protest aims to raise awareness of claims of corruption, money laundering, unauthorised account openings, and operational failures under the bank’s leadership.

The demonstration, led by Tijani Usman, the coalition’s chief convener, underscored public frustration with GTB’s alleged misconduct.

“The allegations against GTB are serious and cannot be ignored,” Usman declared, urging law enforcement agencies to launch an urgent probe into the bank’s activities.

He highlighted the vital role of the banking sector in economic development and criticised regulatory inaction, stating that such issues have long eroded public trust in Nigeria’s financial system.

GTBank, one of Nigeria’s largest financial institutions, is facing public scrutiny under the management of Segun Agbaje, who has been at the helm of the bank for over a decade.

While GTBank is celebrated for its financial success, recent accusations have prompted renewed calls for accountability.

Participants expressed concern over the prolonged outage of the bank’s payment systems, which left customers unable to access their funds, causing significant financial losses.

The coalition demanded that the bank’s management shift its focus from external engagements to resolving internal crises and restoring customer trust.

The protesters also called on the Central Bank of Nigeria, CBN, and the Economic and Financial Crimes Commission, EFCC, to actively investigate the allegations and ensure transparency.

“There must be accountability,” Usman said, emphasising that banking institutions must be held to the highest standards to prevent misuse of financial systems.

This demonstration signals growing discontent within civil society, which is demanding meaningful reform in Nigeria’s banking sector.

As the protest remained peaceful, participants carried placards with slogans like “End Corruption in Banking” and “Investigate GTB Now,” urging financial authorities to take decisive action.

Neither the Nigeria Police Force nor GTBank representatives have issued statements in response to the protest.

However, observers note that the public outcry is pressuring law enforcement agencies to investigate the bank’s operations thoroughly.

The coalition has vowed to continue peaceful protests until their demands are met.

“We will not stop until justice is served for customers, investors, and the future of our economy,” Usman told the crowd.

This event marks the latest in a series of calls for greater transparency and accountability in Nigeria, as civil society groups intensify their fight against corruption in both public and private sectors.