GTB Clears Air on Alleged Website Hack, Explains Why Site is Not Accessible
- GTB has denied reports that hackers gained access to the Guaranty Trust Bank website
- This happened on Wednesday night after the domain name renewal was extended till 2029
- The event, according to a top GTBank executive, was caused by a connectivity issue rather than hacking
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Reports that hackers took control of Guaranty Trust Bank's (GTBank) website have been refuted, with the bank characterising the allegations as wholly untrue.
Source: Getty Images
This came after the bank's website, gtbank.com, went down on Wednesday night just one day after the domain name was renewed till 2029.
The iOS and Android mobile apps for GTBank carried on as usual in spite of the interruption.
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Although no hacker organisation has taken credit for the incident, there are rumours that a phishing attempt may have been made using a fake version of the website.
According to the Peoples Gazette, a cybersecurity expert speculated that rather than a domain hijack, the problem might be related to compromised login credentials.
Speaking with the Daily Post, a senior GTBank executive stated that the incident was not the result of hacking but rather of a connectivity problem, rejecting the claims of hacking.
Meanwhile, Legit.ng reported that the minimum capital required by banks operating in Nigeria has now been reviewed upward according to a directive by the apex bank.
The statement was signed by the director of the financial policy and regulation department, Haruna Mustafa.
The bank allowed 24 months (starting on April 1, 2024, and ending on March 31, 2026) to comply with the new rule in a statement to all commercial, merchant, and non-interest banks and promoters of planned banks.
GTbank sets new banking record
Legit.ng also reported that Guaranty Trust Holding Company Plc (GTCO), the parent company of Guaranty Trust Bank (GTBank), recorded a profit after tax of N509.3 billion in the first quarter of 2024.
The amount is a 587.4% or six times increase when compared to N74 08 billion reported in the same period of 2023.
The profit recorded by GTBank is also the largest ever pre-tax profits in Nigerian banking history.
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Source: Legit.ng
