Global Integrity Crusade Network has called for a thorough investigation into the financial activities of Guaranty Trust Bank Limited, a subsidiary of Guaranty Trust Holding Company Plc under the leadership of Segun Julius Agbaje both in Nigeria and abroad.


After it private investigations Global integrity Crusade Network alleged the financial institution of various Offences including falsehood financial performance and deceptive profit declarations, Guarantee Trust Bank was also accused of unsolicited Account Opening, unauthorized information acquirement from Customers. 


The group at a press conference in Abuja through it President Edward Omaga said it findings was affirmed through a press release by the Central Bank of Ghana notifying the suspension of GTB in Ghana  as a result of various breaches of the Foreign Exchange Market Regulations, including fraudulent documentation in foreign exchange operations. 


Further investigations according to the group revealed that the FCA imposed on Guaranty Trust Bank (UK) Limited a financial penalty of £10,959,700 for failure to put in place policies and procedures to prevent and detect money laundering. 


Edward Omaga therefore called on the Central Bank of Nigeria (CBN) to dissolve the Board and Management of Guaranty Trust Bank Limited to pave way for thorough scrutiny of the accounting books of the Bank with a view to ascertaining its level of compliance with relevant banking Laws, Regulations and Guidelines and immediate suspension of Segun Julius Agbaje as Group CEO of Guaranty Trust Holding Company Plc and retrieve from him all files or documents relating to Guaranty Trust Bank Limited to avoid interference with further inquiry into the issues raised in all allegations.


The United Kingdom Financial Conduct Authority considered  repeated misconduct to be a direct result of the inability of the Senior Management within the GTBank, over a prolonged period of time, to formulate and implement an effective plan capable of addressing the weaknesses identified in its Anti-Money Laundering and financial crime systems and controls.