GTBank in trouble as group protests over alleged fraud, corruption

The Coalition of Civil Society for Good Governance in Nigeria (CCSGGN) staged a protest at the Nigeria Police Headquarters in Abuja, raising concerns over alleged fraud and financial misconduct at Guaranty Trust Bank Limited (GTB) under the leadership of Segun Agbaje, the Group Chief Executive Officer.

The group called for an urgent investigation into GTB’s alleged use of customers’ and investors’ funds to pay penalties in the United Kingdom.

This protest aligns with a previous demonstration held at the National Assembly Complex in Abuja on October 8 by the Global Integrity Crusade Network (GICN), which accused the bank of fraud, financial irregularities, and corruption.

GICN had earlier released a report, signed by its President, Edwin Omaga, alleging “unscrupulous, unethical, and criminal activities” within the bank. Segun Agbaje has been the Group CEO of GTB since August 2021.

In a protest statement, Comrade Tijani Usman, the chief convener of the CCSGGN, emphasized the group’s expectation that the Nigeria Police Force, as the country’s primary crime-fighting agency, should act on the allegations brought forward by various civil society organizations. Usman expressed disappointment that the authorities had not yet investigated or prosecuted the individuals involved, despite the serious accusations.

“We strongly believe that the police must use their powers under Section 4 of the Police Act 2020 to investigate these crimes thoroughly,” Usman stated, warning that justice must be served, or risk undermining public trust in the system.

The group also urged the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), the Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC), and the Department of State Services (DSS) to take action and ensure accountability.

They concluded by urging the Inspector-General of Police to investigate GTB under Agbaje’s leadership, vowing to continue peaceful advocacy until justice is achieved for the bank’s customers and investors.