Worrying cash shortage hits Guaranty Trust Bank, GTB now GTCO

Worryingly, Guaranty Trust Company (GTCO), which rebranded to GTCO from GTB (Guaranty Trust

Bank) without a proper explanation to its teeming customers, has been hit by a cash shortage.

The Abule Egba branch of the bank on Tuesday December 23, 2021 had to be explaining to customers who wanted to withdraw money that it had no cash to give them.

Customers were shocked by it with compromises being reached as to amounts to be withdrawn.

Needless to say, the development is quite worrisome as GTCO which is still referred to as GTB by most people, is one of Nigeria’s foremost banks which is not expected, supposed to have such problems.

Already, it has persistent ATM issues as its ATMs dispense cash irregularly and unreliably and it’s strangely embroiled in a fraud tussle with a Nigerian billionaire entrepreneur, Innocent Chukwuma, founder of Innoson Motors, who alleges it of defrauding him and there have been recent reports of him claiming that he’ll eventually take over its ownership consequently.

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