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GTBank International Money Transfer

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GTBank: Domiciliary Account and International Money Transfer

Domiciliary Account at GTBank Makes foreign currency transactions convenient for people. You can carry out these transactions from the comfort of your home, office, or anywhere in the world. Domiciliary accounts at GTBank are available in US Dollars (USD), Pounds (GBP), or Euro (EUR). You can fund your account via cash inflows and deposits. Also, you can make withdrawals from any GTBank branch closest to you nationwide.

 

The Benefits of Domiciliary account with GTBank

  • 24/7 Banking services via our various e-channels.
  • Cash withdrawals in foreign currency from any GTBank branch.
  • Transfer funds in foreign currency to other bank’s domiciliary accounts in Nigeria and abroad.

The requirement for opening a domiciliary account with GTBank

  • Filled and signed a Domiciliary Account opening form.
  • A copy of your identification document (Driver’s License, passport, National I.D Card, or any other acceptable by the bank).
  • One passport photograph on a plain background.
  • Two (2) completed reference forms.
  • Utility bill issued within the last 3 months.

 

Need Help to open a domiciliary account with GTBank?

Visit the Help Centre or Call: +234 700 4826 66328 or +234 1 448 0000

 

GTBank International Money Transfer

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The GTBank International Money Transfer (GTMT) is designed to enable both GTBank account holders and non-account holders to receive or send funds to and from any GTBank subsidiary in West Africa. In compliance with the CBN directive, recipients of funds through GTBank International Money Transfer in Nigeria must either be GTBank account holders or must be identified by a GTBank account holder.

 

Characteristics GTBank International Money Transfer

  • GTBank account and non-account holders can walk into any GTBank branch to receive or transfer funds in Dollars (USD) to and from any of our subsidiaries in Nigeria, Ghana, the Gambia, and Sierra Leone
  • Also, GTBank International Money Transfer is an effective way of paying for goods and services
  • GTBank International Money Transfer is denominated in US Dollars (USD)
  • You can make a maximum transfer of $10,000.00 in a single transfer
  • Beneficiaries can be paid in US Dollars or local currency, Cedis, Dalasi, Leone, and Naira (Beneficiaries can only be paid in local currency in Ghana).

 

Benefits of GTBank International Money Transfer

  • It is an easy, convenient, and secure means of transferring funds.
  • Ideal for GTBank account and non-account holders
  • Faster turnaround time for everyone
  • Instant access to cash
  • No documentation is required
  • Eliminates the risk of traveling with cash
  • Transfer of funds ahead of your holiday/business trip and to family members and friends for upkeep
  • Easy tracking of funds

 

Funds Transfer Instruction

For Transfer of USD ($) Into Domiciliary Account Through CitiBank New York:

  • Correspondent Bank: CitiBank, New York
  • Swift Code: CITIUS33
  • FEDWIRE/ABA NUMBER: 021000089
  • FOR CREDIT OF GUARANTY TRUST BANK PLC, LAGOS NIGERIA
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • GTBank’s Account Number with Citi New York: 36129295
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: …………………………………………………. (E.g. Sender’s Name, Reference e.t.c)

For Transfer Of USD ($) Into Domiciliary Account Through Deutsche Bank New York:

  • Correspondent Bank: Deutsche Bank, New York
  • Swift Code: BKTRUS33
  • FEDWIRE/ABA NUMBER: 021001033
  • For Credit Of GUARANTY TRUST BANK PLC, LAGOS NIGERIA
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • GTBank’s Account Number with Deutsche Bank New York: 04434658
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: ………………………………………………….

 

For Transfer Of USD ($) Into Domiciliary Account Through Standard Chartered Bank New York:

  • Intermediary Bank: Standard Chartered Bank, New York
  • Swift Code: SCBLUS33
  • FEDWIRE/ABA NUMBER: 026002561
  • For Credit Of GUARANTY TRUST BANK PLC, LAGOS NIGERIA
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • GTBank’s A/C NO with Standard Chartered Bank, New York: 3582-026828-001
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: ………………………………………………….

 

For Transfer Of USD ($) Into Domiciliary Account Through GTBank London:

  • Intermediary Bank: CitiBank, New York
  • Swift Code: CITIUS33
  • FEDWIRE Routing Code: 021000089
  • An account with Bank: GUARANTY TRUST BANK (UK) LIMITED
  • Swift Code: GTBIGB2L
  • Account Number: 36917996
  • Beneficiary Name: Guaranty Trust Bank plc Nigeria
  • Beneficiary’s Bank Swift Code: GTBIGB2L
  • GTBank’s Account No with GTBank London (with GTBank London): 90110014250330
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: ………………………………………………….

 

For Transfer Of USD ($) Into Domiciliary Account Through Standard Chartered Bank, London:

  • Correspondent Bank: SCB, London
  • Swift Code: SCBLGB2L
  • Sort Code: 609104
  • For Credit Of Guaranty Trust Bank plc, Lagos Nigeria
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • Account Number: 01 027065310 50
  • GTBank’s Account No. with CitiBank, London IBAN Number: GB90 SCBL 6091 0427 0653 10
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: …………………………………………………

 

For Transfer Of GBP (£) Into Domiciliary Account Through CitiBank, London:

  • Correspondent Bank: CitiBank, London
  • Swift Code: CITIGB2L
  • Sort Code: 185008
  • For Credit Of Guaranty Trust Bank plc, Lagos Nigeria
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • GTBank’s Account No. with CitiBank, London IBAN Number: GB72 CITI 1850 0850 0808 3157 95
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: ………………………………………………….

 

For Transfer Of GBP (£) Into Domiciliary Account Through Standard Chartered Bank, London:

  • Correspondent Bank: SCB, London
  • Swift Code: SCBLGB2L
  • Sort Code: 609104
  • For Credit Of Guaranty Trust Bank plc, Lagos Nigeria
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • GTBank’s Account No. with SCB, London IBAN Number: GB90 SCBL 6091 0427 0653 10
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: …………………………………………………

 

For Transfer Of EUR (€) Into Domiciliary Account Through CitiBank, London:

  • Intermediary Bank:  Citibank Europe Plc
  • SWIFT CODE:  CITIIE2X
  • Correspondent Bank: CitiBank, London
  • Swift Code: CITIGB2L
  • Sort Code: 185008
  • For Credit Of Guaranty Trust Bank plc, Lagos Nigeria
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • GTBank’s Account No. with CitiBank, London IBAN Number: GB05 CITI 1850 0810 8205 71
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: ………………………………………………….

 

For Transfer Of EUR (€) into Domiciliary Account Through Deutsche Bank Frankfurt:

  • Correspondent Bank: Deutsche Bank Frankfurt
  • Swift Code: DEUTDEFF
  • Sort Code: 50070010
  • For Credit Of Guaranty Trust Bank plc, Lagos Nigeria
  • Beneficiary’s Bank Swift Code: GTBINGLA
  • GTBank’s Account No. with Deutsche Frankfurt/ IBAN Number: DE84 5007 0010 0955 7224 01
  • For Final Credit Of: ………………………….. (Beneficiary’s Name)
  • Beneficiary’s A/C Number: ………………………….. (With GTBank)
  • Any Other Detail: ………………………………………………….

 

For more on GTBank: Domiciliary Account and International Money Transfer and to open a domiciliary account with GTBank, please visit the GTBank website

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AFRICA

Nigeria’s AfriGo to Rival Visa, Mastercard – Central Bank

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The Central Bank of Nigeria (CBN) has launched the Nigerian National Domestic Card Scheme, AfriGo, aimed at creating a more robust payment system that would drive financial inclusion in the country.

CBN governor, Godwin Emefiele, has said that transaction charges on all cards would henceforth be paid in Naira, except for international transactions.

Emefiele said the card, which will function like other international payment cards, is aimed at boosting financial inclusion in the country and reducing dependence on foreign cards. He added that “by this initiative, will therefore be joining countries like China, Russia, Turkey and India which have launched domestic card schemes and harnessed the transformative benefits for their respective payments and financial systems, particularly for the underbanked.”

The national domestic card is expected to rival Visa and Mastercard, the market’s biggest players.

The announcement follows last year’s decision to phase out old higher denomination bank notes. The new notes came into circulation effect on December 15, 2022.

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AFRICA

Nigeria: Federal Govt Sets Up 14-Man Committee to Manage Petroleum Products Supply, Distribution

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In a move to find lasting solution to the disruptions in the supply and distribution of petroleum products in the country, President Muhammadu Buhari has approved the constitution of a 14-man Steering Committee on Petroleum Products Supply and Distribution management, which he will personally chair, the ministry of petroleum resources announced yesterday.

The Steering Committee, which has minister of state for Petroleum Resource, Chief Timipre Sylva as alternate chairman is expected to among other things to ensure transparent and efficient supply and distribution of petroleum products across the country.

Other terms of reference are to ensure national strategic stock management, visibility on the NNPC Limited refineries rehabilitation programme and ensure end-end tracking of petroleum products, especial PMS to ascertain daily national consumption and eliminate smuggling.

To further ensure sanity in the supply and distribution across the value chain, Sylva has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure strict compliance with the government approved ex-depot and retail prices for PMS.

The minister has further directed the NMDPRA to ensure that NNPC Limited, which is the supplier of last resort meets the domestic supply obligation of PMS and other petroleum products in the country.

He further directed that the interests of the ordinary Nigerian is protected from price exploitation on other deregulated products such as AGO and DPK and LPG.

The federal government will not allow misguided elements to bring untold hardship upon the citizenry and attempt to discredit government’s efforts in consolidating the gains made thus far in the oil and gas sector of the economy.

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Other members of the committee are minister of Finance, permanent secretary, Ministry of Petroleum Resources, National Economic Adviser to the President, director-general, Department of State Services (DSS), comptroller-general, Nigerian Customs Service (NCS), chairman, Economic and Financial Crimes Commission Member (EFCC), and commandant-general, Nigerian Security and Civil Defence Corps (NSCDC)

Others who made up the Steering Committee are Authority chief executive, Nigerian Midstream and Member Downstream Petroleum Regulatory Authority (NMDPRA), governor, Central Bank of Nigeria (CBN), group chief executive officer, NNPC Limited, Special Advisor (Special Duties) to the HMSPR while the Technical Advisor (Midstream) to the HMSPR will serve as Secretary.

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AFRICA

Nigeria’s fuel subsidies surpassed $1 billion in August as it supplied more petrol

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The cost of Nigeria’s fuel subsidies rose to 525.714 billion naira ($1.22 billion) in August, bringing the total spent this year to 2.568 trillion naira, according to figures submitted to the government by state oil company NNPC.

The ballooning costs of keeping petrol prices low in Africa’s most populous nation are straining the budget and draining revenue from the Nigerian National Petroleum Corp (NNPC).

In April, Nigeria’s parliament approved a 4-trillion-naira petrol subsidy for this year after the government in January reversed a pledge to end its subsidies to avert protests in the run-up to presidential elections in February 2023.

NNPC has not submitted any money to the federal government this year due largely to subsidy costs. August’s bill compared with 448.782 billion naira in July, according to a document NNPC submitted on Friday to the Federation Account Allocation Committee.

Part of the increased cost was down to a bigger daily supply of petrol, which rose to 71.8 million litres, up nearly 10% from July, according to information submitted at the same meeting by regulator Nigerian Midstream and Downstream Petroleum Regulatory Authority.

Oil production in August averaged 1.18 million barrels per day, well below the nation’s OPEC quota of 1.8 million bpd, due in large part to theft from pipelines that has curtailed production.

($1 = 430.0500 naira)

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AFRICA

Payments platform Fuse integrates ChromePay to bring DID services to Africa

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The African continent has emerged as a hotbed for crypto and blockchain activity, with countries like Nigeria and Ethiopia leading the way.

Web3 payments platform Fuse has partnered with ChromePay, an identity-based payment solution, to launch a new suite of payment products in Africa — a move designed to boost financial inclusion on the continent.

The partnership centers around ChromePay’s decentralized identity service, also known as a DID, which the companies claim will enable millions of Africans to participate in the Web3 economy. By utilizing the Fuse blockchain, ChromePay will offer users a variety of Web3 payment services powered by its DID solution. As part of the partnership, Fuse has also awarded ChromePay a grant for an undisclosed amount to build out its decentralized finance (DeFi) and DID services directly on the blockchain.

By integrating with the Fuse blockchain, ChromePay will reportedly enable users to access both traditional and blockchain-based payments directly from their mobile devices.

Founded in 2019, ChromePay launched its payment solutions app in Nigeria in 2021 following a successful pilot. The company’s next milestone is the launch of its Fuse-powered DID in Ethiopia, a country that has made notable strides in its crypto adoption.

As Cointelegraph explains, decentralized identity is an emerging concept within Web3 that enables trusted data exchange. In practice, DIDs allow users to manage and administer their digital identity without reliance on a centralized third party.

Africa has become a hotbed for crypto and blockchain activity, with significant populations in Kenya, Nigeria and South Africa turning to digital assets for access to financial services. This trend was identified by the United Nations in a June 2022 policy brief, which described the “unprecedented pace” of crypto adoption during the pandemic.

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