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GTBank Confirms Attempted Breach, Denies Website Cloning

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Guaranty Trust Bank (GTBank) has confirmed an attempted hacking incident on its website, addressing recent media reports that claimed hackers had seized and cloned the bank’s website, intercepting customer data. 

The hacking attempt occurred just a day after the bank renewed its domain name, causing a temporary disruption to the website, which left customers unable to access online services. 

This led to widespread concern and media reports suggesting that the bank’s website had been cloned, potentially putting customer data at risk. 

In a statement released on Thursday, the bank clarified that while there was an isolated attempt to compromise its website domain, the website had not been cloned, and no customer data was at risk. 

GTBank assured its customers and stakeholders that the bank does not store customer information on its website, thereby eliminating the possibility of any data compromise. The bank emphasized that the reports circulating in the media were inaccurate and should be disregarded. 

The statement noted that the bank’s Information Security Experts are currently working round the clock to restore domain settings. 

The bank also reaffirmed its unwavering commitment to safeguarding customer data, urging customers to remain calm and confident in the bank’s robust security measures. 

“Our attention has been drawn to reports in the media alleging that hackers have seized the Bank’s website, cloned it and intercepted customer data. 

“While there was an isolated incident of an attempt to compromise our website domain, we would like to assure all our Customers and Stakeholders that the Bank’s website has not been cloned and that we do not store customer information on our website, and as such, there has been no instance of compromise of customer data. 

“Our dedicated team of Information Security Experts are currently working round the clock to restore domain settings, and we can assure our customers that our website will be up shortly. 

“We urge all our Customers to please disregard the claims in these media reports and assure you of our unwavering commitment to safeguarding customer data.” The statement read

Recent reports about the hacking attempt on Guaranty Trust Bank (GTBank) sparked widespread concern, particularly after some news outlets suggested that the bank’s website had been seized by hackers, potentially compromising customer data. 

The incident reportedly began on the night of August 14, 2024, just a day after GTBank renewed its domain name for another five years. 

Some reports claimed that the hackers had created a fake version of the GTBank website to carry out a phishing operation aimed at stealing customer information. 

This led to a flurry of customer complaints on social media, particularly on X, where users reported being unable to access the bank’s website to conduct transactions. 

This incident highlights the growing threat of cyberattacks on financial institutions in Nigeria, where hackers increasingly target bank websites to steal data through phishing schemes and other malicious activities. 

However, GTBank’s mobile applications on Android and iOS devices remained functional during this period.

 

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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