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Fuel Scarcity Forces GTBank To Close Early

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<b>One of Nigeria’s biggest banks on Monday announced it was shutting branches early due to a lack of fuel, in the latest sign of shortages hitting businesses.</b></div>
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“The current shortage of petroleum products in the country has limited our ability to supply diesel to all our branches in order to continue normal branch operations,” GT Bank said in a statement on Twitter.</div>
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“Due to this we unavoidably have to close our branches nationwide at 1pm (1200 GMT) from Monday 25th May, 2015.”</div>
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Guaranty Trust Bank plc has branches across Nigeria, as well as Anglophone and Francophone West Africa, East Africa and Britain, with an overall staff of more than 10,000.</div>
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Nigeria has been brought to a virtual standstill by fuel shortages, caused by a row between the outgoing government and importers, as well as strikes by petrol tanker drivers and oil and gas workers.</div>
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Despite being Africa’s biggest oil producer, petroleum products have to be imported to Nigeria because of a lack of functioning domestic refineries.</div>
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The government keeps the price at the pumps below the market rate for consumers and pays the difference to importers and marketers.</div>
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But they say they are owed $2 billion in arrears and have shut fuel depots until the balance is paid.</div>
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The government maintains the money has been paid and the importers are holding the country to ransom by demanding losses from the slump in the naira currency caused by the global drop in oil prices.</div>
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Telecoms operators said at the weekend they may be forced to shut down networks if no fuel supplies are found for generators that power base stations and switches.</div>
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Nigerian homes and businesses are forced to use generators because of poor to non-existent grid supply.</div>
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Fuel Scarcity Forces GTBank To Close Early

One of Nigeria’s biggest banks on Monday announced it was shutting branches early due to a lack of fuel, in the latest sign of shortage...

GTBank Introduces Mobile Fund Transfer

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhi7xP25ZNFx-nI4tRL4rCzygt4FuzvT149XT0reifOp_1kHHwG8ReoP24MCG4rYBsWzZnIq9JhaAstK1hnhzSPklmK-pZo-6P_Gf2PtsXEgOYDD5o6FRBDQxzSO1gRB3cgmYbchw6qV4JL/s1600/GTBank.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhi7xP25ZNFx-nI4tRL4rCzygt4FuzvT149XT0reifOp_1kHHwG8ReoP24MCG4rYBsWzZnIq9JhaAstK1hnhzSPklmK-pZo-6P_Gf2PtsXEgOYDD5o6FRBDQxzSO1gRB3cgmYbchw6qV4JL/s1600/GTBank.jpg" /></a></div>
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<b>Guaranty Trust Bank Plc says it has inaugurated another innovative mobile channel which enables its customers to transfer money to both GTB customers and other bank account holders in Nigeria.</b></div>
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According to a statement by the lender, using mobile phones to dial the short code *737* with details of the amount and account number of the beneficiary, customers can effect money transfer in seconds.</div>
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The bank tagged the product '<b>737 transfer service</b>' and said it was another offering pioneered by the bank in the financial industry.</div>
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The service, it said, was introduced to build on the success of the bank's 'One Click Top-Up' service, which allows GTB customers to buy airtime on their mobile phones directly from their bank account.</div>
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The statement quoted the Managing Director and Chief Executive Officer, GTBank, Mr. Segun Agbaje, as saying: "We will continue to leverage technology to make banking, especially payments and transfers faster, safer and more convenient for all our customers. This service addresses the electronic banking requirements of our customers, irrespective of their phone type."</div>
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The statement added: "The 737 transfer service is only available to GTBank customers via their mobile phone numbers registered with the bank and has minimum transfer limit of ₦1,000 and a daily transfer limit of ₦20,000."</div>
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GTB was established in 1990 and has within the last 25 years come to be recognised as one of the most profitable, innovative, service-focused and well-managed banks in the Nigerian financial market space.</div>
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<b>The Punch</b></div>
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GTBank Introduces Mobile Fund Transfer

Guaranty Trust Bank Plc says it has inaugurated another innovative mobile channel which enables its customers to transfer money to bo...

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Fuel Scarcity Forces GTBank To Close Early

GTBank Introduces Mobile Fund Transfer

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