Guaranty Trust Bank plc, one of the leading banks in Nigerian banking space, has launched GTExpress, a comprehensive Agent Banking Service at Forte Oil locations nationwide.

The idea, according to GTBank, is to leverage the extensive reach of Forte Oil, Nigeria’s foremost energy solutions provider, to further bring banking services such as Account Opening, Cash deposit and Withdrawal via ATMs, Customer Enquiries,Bills payment and Funds transfer closer to the people.

GTExpress has been rolled out in 14 Forte Oil locations: Western Avenue, Surulere; Bank Road, Ikoyi; Local Airport Road, Ikeja; Festac; Olorunsogo, Mushin; Shomolu, Ikorodu Road, Apapa-Oshodi/ Mile 2 Expressway; Boundary Road Ajegunle; Campos Square Lagos Island, Jebba, Ebute Metta; Old Apapa Road; Wharf Road and Kingsway Road, Apapa.

GTBank formally launched this service in November 2013 at Ebeano Supermarket in Lekki, Lagos and has recorded tremendous success at this location since inception. Basic banking services and any other activity as the Central Bank of Nigeria may prescribe from time to time, can be carried out at these agent locations.

GTExpress is banking via agent locations such as supermarkets, schools, cinemas, markets and restaurants. It is an initiative to reach out to the underserved and unbanked segments of the population in a cost efficient manner through the use of non-banking retail outlets.

According to Segun Agbaje, GTBank Managing Director and Chief Executive, “The unbanked sector of the economy presents a significant growth area for banks in emerging markets. Our objective is to offer banking products and services to this segment via non-banking outlets thus breaking down barriers to financial inclusion such as accessibility and cost. This is a great step in achieving a more inclusive financial services industry.”

On his part, Akin Akinfemiwa, Group Chief Executive Officer, Forte Oil plc, said: “We are pleased with the GTBank partnership as it reinforces our vision of being a one stop shop whilst affirming the wide reach of our retail network. With this alliance our customers who patronise GTB Plc will be able to reduce commuting time and cost in attending to their various needs.

•Photo shows GTBank MD/CEO Segun Agbaje.