One of the affected customers, Oyeyemi Oluwatobi, a paint manufacturer and housing exterior decorator, whose account with GTBank got hacked, lost his entire savings to some yet-to-be-identified fraudsters.

According to Oluwatobi, no less than N700,000 was withdrawn from his account without his authorisation.

The father of two said he first experienced a debit of N450,000 and transferred to one Ojo Jeremiah account held in Sparkle Bank, while N249,900 was transferred to a Sporty Internet Limited account within minutes on Saturday, January 22, 2022.

It was gathered that since the unauthorised transaction was made on his account, Oluwatobi was yet to recover his funds despite GTBank’s promise to resolve the issue.

It was gathered that within five minutes after her salary was paid, “N102,800 was removed from my account to an account of Ibukun Ademola.” Pearl explained further that all she was hearing when GTBank customer care was music.

“A transaction I did not initiate. How do I pay my bills and also survive? Am so devastated right now, how do I survive with a child, how do I attend to people am owing that I have promised I will pay them by month end? How do I survive this.” she lamented at the time, adding that GTBank sent her a mail, reportedly informing Pearl there’s “nothing they can do” she disclosed on her Twitter page.

When will CBN sanction GTBank?

Going by the customer protection circular published by CBN, the banking industry regulator, in December 2019, stipulated that failure to resolve customers’ complaints, within its prescribed timeline, attracts N500,000 per complaint per week while the infractions subsist.

Also, “Non-acknowledgment of complaints from customer or non-issuance of tracking numbers-N2.000,000.00 per complaint.

The post GTBank Customers Lament Unauthorised Transactions appeared first on Business News in Nigeria.

Solicitors to Corporate Forwarders, in a letter addressed to GTCO, demanded a retraction, an apology and a compensation for the injurious libellious falsehood’ against its client.

According to the letter, GTCO  had erroneously flagged Corporate Forwarders Limited as credit risk based on a report from the Credit Risk Management System (CSRM) of the Central Bank of Nigeria (CBN).

GTCO accused Corporate Forwarders of 1952 days late in repaying an overdraft of N13, 021,000 granted to the company in 2015.

However, Corporate Forwarders Ltd, a frontline logistics services provider of over 3 decades has never applied or received any financial support from GTCO.

The letter stated that the alleged error on the part of GTCO made Corporate Forwarders lose out on securing a loan from another commercial bank, thereby resulting in financial losses for the company.

However, the bank which received the demand letter on Thursday, November 4, 2021, has until Thursday, Nov 11, to pull down the offensive and defamatory publication from the Credit Risk Management’s System platform, publish an apology for the misinformation on a national daily and pay the sum of N1 billion as compensation or face legal proceedings.

Recall that in July, Guarantee Trust Bank Plc (GTB) completed its re-organisation to a Holding Company Structure and adopted the name, Guarantee Trust Holding Company Plc (GTCO).

The post GTCO Risks N1bn Compensation Fee For Defamation appeared first on Business News in Nigeria.