GTCO Raises Estimated Legal Exposure to ₦20.8bn as H1 Profit Declines

GTCO’s solicitors estimate that the group’s potential liability from pending lawsuits stood at no more than ₦20.8 billion as of 30 June, up from ₦10.41 billion at the end of 2025. The group faced 1,212 cases as a defendant, slightly lower than the 1,237 cases recorded in December. Claimants are seeking a combined ₦421.43 billion and $11.75 million, although the full amount claimed does not represent GTCO’s expected loss. The estimated ₦20.8 billion exposure is about 4.9% of the naira claims and roughly 5% of GTCO’s ₦414.18 billion profit for the first half of 2026. The bank’s profit after tax fell by 7.7% in the period, while its shares declined 4.5% to ₦132.50 amid heavy trading.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.