Author: GANUX

 

The United States and China announced Monday an agreement to drastically reduce tit-for-tat tariffs for 90 days, de-escalating a trade war that has roiled financial markets and raised fears of a global economic downturn.

After their first talks since US President Donald Trump launched his trade war, the world’s two biggest economies agreed in a joint statement to bring their triple-digit tariffs down to two figures and continue negotiations.

US Treasury Secretary Scott Bessent described the weekend discussions with Chinese Vice Premier He Lifeng and international trade representative Li Chenggang as “productive” and “robust”.

“Both sides showed a great respect,” Bessent told reporters.

Trump had imposed duties of 145 percent on imports for China last month — compared to 10 percent for other countries in the global tariff blitz he launched last month.

Beijing hit back with duties of 125 percent on US goods.

The United States agreed to lower its tariffs on Chinese goods to 30 percent while China will reduce its own to 10 percent.

China hailed the “substantial progress” made at the talks, which were held at the discreet villa residence of Switzerland’s ambassador to the United Nations in Geneva.

“This move… is in the interest of the two countries and the common interest of the world,” the Chinese commerce ministry said, adding that it hoped Washington would keep working with China “to correct the wrong practice of unilateral tariff rises”.

Stock markets and the dollar, which tumbled after Trump unleashed his global tariff blitz in April, rallied after the announcement.

– Fentanyl ‘cooperation’ –

The US tariff rate remains higher than China’s because it includes a 20-percent levy put in place over US complaints about Chinese exports of chemicals used to make fentanyl, US Trade Representative Jamieson Greer told reporters.

“Those remain unchanged for now,” he said, adding though that “both the Chinese and United States agreed to work constructively together on fentanyl and there is a positive path forward there as well”.

In their joint statement, the two sides agreed to “establish a mechanism to continue discussions about economic and trade relations”.

“I think we leave with a very good mechanism to avoid the unfortunate escalations,” Bessent said, noting that the tariffs had essentially created a trade “embargo” between the two superpowers.

 

He added that “the nature of what has happened since April 2 could have been avoided if we had had this kind of mechanism in place”.

 

The Chinese commerce ministry said “the two sides will conduct rolling consultations on a regular or ad hoc basis in China, the US or agreed third countries”.

 

– ‘Uncertainties’ remain –

 

Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, said in a note the outcome of the weekend meeting was particularly a “success” for Beijing.

 

“China took a tough stance on the US threat of high tariffs and eventually managed to get the tariffs down significantly without making concessions,” he said.

 

Wang Wen, Dean of Chongyang Institute for Financial Studies at Renmin University of China, said the agreement had “exceeded expectations”, hailing “the biggest easing of tensions… since the global tariff war” began.

 

He cautioned though that “uncertainties” remained, warning that without progress over the next 90 days “it is possible that the tariff war will resume”.

 

The trade dispute between Washington and Beijing has rocked financial markets, raising fears the tariffs would rekindle inflation and cause a global economic downturn.

 

The Geneva meeting came days after Trump unveiled a trade agreement with Britain, the first with any country since he unleashed his flurry of global tariffs.

 

The head of the World Trade Organization, Ngozi Okonjo-Iweala, praised the talks on Sunday as a “significant step forward” that “bode well for the future”.

 

“Amid current global tensions, this progress is important not only for the US and China but also for the rest of the world, including the most vulnerable economies,” she added.

 

AFP

 

Ukrainian President Volodymyr Zelensky on Monday invited Pope Leo XIV to Ukraine during their first phone call, in which he also thanked the newly installed pontiff for urging peace in Ukraine.

 

“I invited His Holiness to make an apostolic visit to Ukraine. Such a visit would bring real hope to all believers, to all our people,” Zelensky said in a post on social media.

 

The two leaders also discussed “the thousands of Ukrainian children deported by Russia”, Zelensky said, adding that Kyiv was counting on the Vatican’s help in returning them home.

 

“No more war!” Leo had urged from the balcony of St Peter’s Basilica to thousands gathered to hear his first prayer on Sunday.

 

He appealed for a “genuine, just and lasting peace” in Ukraine, echoing his predecessor Francis.

Francis, who never visited Ukraine, had sparked frustration through his failure to clearly condemn Russia for the invasion and by calling for Ukraine to raise the “white flag”.

 

Kyiv however had recognised the Vatican’s efforts in mediating prisoner exchanges and the return of children taken to Russia from occupied parts of Ukraine.

 

Zelensky also said that he had told Leo about a joint ceasefire offer by Ukraine and its allies and that the two had agreed to “plan an in-person meeting in the near future”.

AFP

 

The Ondo State Muslim Welfare Board says the first batch of 316 pilgrims have departed to Saudi Arabia.

 

State Board Chairman, Alhaji Dhikirulahi Chandy-Adam, made the disclosure in a phone interview with the News Agency of Nigeria on Monday.

 

Chandy-Adam, who explained that the pilgrims had already been vaccinated for yellow fever and meningitis, said that the first batch would depart by 1 p.m on Monday.

 

According to him, arrangements have started this morning for those who will first be airlifted to Mecca.

 

“In Ondo State, 735 intending pilgrims will go through the state to the holy land.

“Moreover, today the first batch, which comprises 316 intending pilgrims, will depart from Ilorin International Airport to Saudi Arabia.

 

“The second and third batch will take-off on Tuesday and Wednesday respectively,” he said.

 

Chandy-Adam, therefore, called on the pilgrims to go along with their faith, believe and fear of Allah for them to have a successful exercise.

 

The board chairman also urged them to abide by the rules and regulations of the authorities of Saudi Arabia.

 

(NAN)

 

A man has lost his life while two others sustained varying injuries in an accident that occurred along the Trade Fair–Agbara route at Iyana Era Bus Stop, Lagos State.

 

The accident, which involved a commercial blue Mack truck with the registration number AKD 579 XM, and a private silver Lexus saloon car with a registration number LSR 545 JN, occurred on Monday.

Lagos auto crash

Lagos accident scene. Photo: FRSC

The Public Education Officer of the Federal Road Safety Corps state’s Sector Command, Elizabeth Jayeola, revealed this in a statement.

 

Jayeola said five adult males were involved in the crash.

She attributed the accident to speed violation and loss of control.

Lagos accident scene. Photo: FRSC

She added that the injured victims had been rushed to Alimosho General Hospital for necessary medical treatment, while the remains of the deceased, still trapped in the car, had been towed to the Ijanikin Police Station.

 

The statement partly read, “Preliminary investigations by FRSC indicate that the crash was caused by speed violation and loss of control, despite the smooth condition of the road. The violent impact of the crash led to the death of one male adult, while two others sustained varying degrees of injuries.

 

“The emergency response team arrived at the scene within 4 minutes of the report and worked swiftly to manage the situation. Injured victims were immediately referred to Alimosho General Hospital for medical attention.

Lagos accident scene. Photo: FRSC

“In an effort to ensure public safety and prevent further chaos from the growing crowd at the scene, the Lexus vehicle with the deceased trapped inside was towed by an Ayab recovery truck to the Ijanikin Police Station. The Mack truck was also cleared off the road by the FRSC tow truck, restoring free flow of traffic.”

 

“The FRSC Lagos Sector Commander, Corps Commander, Kehinde Hamzat, expresses heartfelt condolences to the family of the deceased and wishes the injured a speedy recovery. He reiterates the Corps’ commitment to road safety and calls on all motorists to avoid speeding and always maintain full control of their vehicles.”

 

 

The Electoral Committee of the Lagos State chapter of the All Progressives Congress has said candidates for the Lagos Mainland Local Government Area and the Yaba Local Council Development Area will emerge by consensus.

 

This followed the failure of the candidates to emerge on Saturday at the primaries conducted by the party in Ikeja to produce candidates for the July 12 local government elections in Lagos.

 

Of the 20 LGAs and 37 LCDAs, the party was able to produce 55 candidates on Saturday among the about 500 party members who aspired for the chairmanship seats at various councils.

 

Speaking in a telephone interview with The PUNCH on Sunday, the chairman of the electoral committee, Babatunde Ogala (SAN), said the party had been able to resolve candidacy for the remaining two councils.

 

“By the grace of God, we have resolved the issues, and our candidates are emerging by consensus.

 

“It will be by consensus of the members, and I can assure you that there will be no protest,” Ogala told The PUNCH.

 

Speaking on how the committee, and by extension, the party, was able to handle the numerous aspirants to produce 57 candidates, he said, “We engaged, and many people withdrew. We negotiated the exit, and the aspiring party members respected the party, and to help the party, they also made sacrifices.”

 

He said the candidates for the remaining two councils would be announced soon.

 

“You will see our full list in the next couple of hours,” he said on Sunday evening.

The PUNCH had yet to get the list as of the time of filing this report.

 

Meanwhile, sources within the party maintained that the aspirants in the areas were not yielding to consensus amid a marathon meeting of the party.

 

“They were in a marathon meeting on Sunday. Aspirants are not agreeing on consensus. (But) The party leaders don’t want them to vote.

 

“(President Bola) Tinubu already warned them not to impose,” a member of the party privy to the developments said on condition of anonymity.

 

Some aggrieved members of the party had on Saturday protested against what they described as the imposition of candidates in the Lagos Mainland LGA and Yaba LCDA.

Opposing the primary methods, the aggrieved APC members held a protest on Apapa Road in Ebute Metta, and they later took the demonstration to Arise TV on Victoria Island.

 

At the Saturday primary, no election or consensus was reached for the two aforementioned councils, while candidates emerged via consensus, and some others were selected through voting by delegates for the other 55 councils.

 

The spokesperson for the APC, Seye Oladejo, denied the alleged imposition of candidates, a position that was also echoed on Sunday by the electoral committee chairman, Ogala.

 

Stakeholders at a one day legislative media symposium organised in Abeokuta by the Forum for Governance, Leadership and Values have decried the subservient nature of the legislative arm to the executive arm of the government in the country.

 

They insisted that this undemocratic posture is a major hindrance to good governance and desired democratic growth in the country.

 

The symposium with the theme “Enhancing The Value Of The Legislature In Nigeria’s Democratic Process” also featured the decoration of the Senator representing Ogun West, Solomon Adeola as the Legislative Icon in Nigeria.

 

Lawal Orisadare, while speaking on behalf of the Forum on Sunday, emphasised that deliberate effort is needed and must be made to strengthen the independence of the legislative arm of government, which has almost become a beggar in the hands of the executive arm.

 

He explained that the theory of separation of powers, which gave birth to the three arms of government, the executive, the judiciary and the legislature, is to prevent abuse of power and promote accountability and good governance.

 

The lawyer, however, lamented that the legislatures have not fared so well in this regard, having been almost pocketed by the executive arm of the government.

 

He said that the legislature must be able to exercise the power to make laws that will address the needs of Nigerians and promote good governance.

 

Orisadare added that “The law must enhance the legislature’s ability to represent the interests of Nigerians, particularly marginalized groups and hold their executive accountable for their actions.

 

“The Legislatures must be strengthened to conduct effective oversight monitoring of the executive activities and ensure transparency and accountability in governance.”

 

Delivering his lecture on the theme of the symposium, Professor of International Relations, Obafemi Awolowo University, Ile Ife, Moshood Omotosho lamented that corruption and lobbying by powerful political mafias are major obstacles to effective lawmaking in Nigeria’s legislative arm.

Prof. Omotosho listed the challenges facing the legislature to include political gridlock, corruption, and the influence of special interest groups.

 

“The legislature’s ability to make effective laws can be affected by factors like political gridlock, corruption, and the influence of special interest groups, i.e., lobbying by powerful political mafia in the state, major power brokers, and political cabals.

 

“The relationship between the executive and legislature can be strained, leading to conflicts that hinder effective governance due to differing priorities and power struggles,” Prof. Moshood explained.

 

The university lecturer has however urged the legislators not to compromise their crucial roles of the legislature in stabilizing democratic governance through law-making and promoting good governance, amongst others, despite the challenges.

The Federal Commissioner, Public Complaints Commission, Morakinyo Akinleye who represented Senator Olamilekan in his submission at event, described the Ogun West Senator as a thoroughbreds legislator who has remained committed to using the instrument of lawmaking to expand frontiers of good governance not only in Ogun State but across the country.

 

He said, “The legislators are representatives of the people at the grassroots. Senator Solomon Adeola fondly called Yayi should be commended for managing the committee’s responsibilities. He knows the people and knows what they want.”

 

Also, the convener of the event, Bolaji Adeniji disclosed that the purpose of the symposium was to have a conversation on how the legislature can add value to society, calling for support for legislators for effective representation.

 

Adeniji said “We are here today to have a conversation on how the legislature can add value to society.

 

“There has been a lot of backlash against the legislature as being in cahoots with the executive, but we know that the legislatures are doing well and their roles cannot be underestimated.

 

“What we need to do is to support them to do the right thing for the people. We are happy that somebody like Senator Adeola Olamilekan, a key pillar of the National Assembly, is being honoured here today. Not just for his contribution to the national assembly but for the people he represents”.

 

The National Chairman of the All Progressives Congress, Abdullahi Ganduje, has strongly dismissed claims that he intends to join the opposition Peoples Democratic Party.

 

Ganduje stated that the PDP was dead while the APC is gearing up for a decisive victory in the 2027 elections.

 

This was in response to a claim by the former Jigawa State Governor, Sule Lamido, that the APC would collapse and former PDP members like himself would return.

 

Lamido on Sunday said, “I’m confident that all those who left the PDP will return, including Ganduje, because very soon, the APC will burst and split into factions, having accommodated people with different mindsets.

 

“I said it, and I repeat: within six months, all those who defected to the APC will come back, and the PDP will rise with full force to wrest power in 2027.”

 

In a statement in Abuja on Monday by his Press Secretary, Edwin Olofu, the APC National Chairman dismissed the claim as unfounded and irrational.

 

Ganduje said instead of rejoining the PDP, it was Lamido who would soon join the APC.

He stressed that he has no reason to leave the ruling party for what he called a “failing opposition.”

 

The statement read, “Ganduje predicted that the PDP will go into extinction by the end of 2025, based on the internal squabbles in the party.

 

“It is evident to any discerning observer that under the leadership of President Bola Ahmed Tinubu, the APC continues to gain momentum, with prominent political figures across the country defecting to the party in large numbers.

 

“With such overwhelming national support, the APC remains focused on consolidating its achievements and preparing for a resounding victory in the 2027 general elections.

 

“In fact we will soon receive Sule Lamido because very soon he won’t have where to go, the PDP is dead.”

Ganduje expressed pride in his role as APC leader and reaffirmed his commitment to strengthening internal democracy and advancing good governance.

 

He urged Lamido to concentrate on fixing the PDP’s internal issues rather than spreading baseless claims.

 

President Bola Tinubu has bagged the Lifetime African Achievement award from the Millennium Excellence Foundation based in Ghana, NAN reports on Monday.

 

Tinubu, while receiving the award, commended the patron of the Foundation, Otumfuo Osei Tutu II, Asantehene, for the invitation extended to him and the success of the event put together by the foundation.

 

The President, represented by the Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, received the award as special guest of honour during the 25th anniversary of the Millennium Excellence Prize in Kumasi, Ghana.

 

Tinubu said, “I salute the visionaries who have nurtured this institution for a quarter of a century and also celebrate the values of honour, integrity, service, and excellence that underpin its work.

 

“Specifically, the organisers for identifying and celebrating Africa’s shining lights, individuals whose lives and work had lifted the continent and inspired generations.

 

“It is no small achievement to have honoured such illustrious figures as the late Archbishop Desmond Tutu, Prof. Wole Soyinka, President Cyril Ramaphosa and Dr Mo Ibrahim, among others.”

 

He charged the young generation of Africans to rise with courage towards contributing their quota to make the African continent a more united, peaceful, and prosperous one.

He emphasised the need for such contribution to be carried out in the area of science, technology, education, governance, entrepreneurship and arts.

 

He further called on Africans to always work closely together in shaping their shared destiny, while urging the event organisers to continue to inspire excellence, uphold values of leadership with service and invest in the youth to foster collaboration across borders.

 

“The award ceremony, from inception in 1988, remained a beacon of inspiration and recognition across the continent.

 

“Its mission of identifying, celebrating and supporting those who had distinguished themselves in the pursuit of African development resonated deeply with the aspirations of Nigeria and indeed, all African nations,” he added.

 

The event featured the presentation of the Lifetime African Achievement Prize to Tinubu, the global intra-African trade excellence in Africa to the President/Chairman, African Export-Import Bank (AFREXIM), Dr Benedict Oramah.

 

Also, Akwa Ibom State Governor, Pastor Umo Eno, received the Lifetime Africa Achievement Prize for Governance and Public Service, the Founder/Chairman, BUA Group, Alhaji AbdulSamad Rabiu, received African Excellence in Business, while Mr Dumo Lulu-Briggs received the African Traditional Leadership and Business Excellence award.

 

Some city returnees who are currently undertaking rainy season farming in the South-South region have decried lack of support from the government.

 

The farmers made the expression while responding to a News Agency of Nigeria survey on the challenges being faced by wet season farmers in South-South region.

 

The farmers who spoke in separate interviews with NAN also urged the state governments in the region to support them with funds and farm inputs.

 

They further urged the governments to quickly address the security challenges in some communities to enable farmers to cultivate without fear.

 

NAN observes that some unskilled workers residing in the cities are currently returning to their communities to embark on rainy season farming.

 

One of them, Mr Richard Ndoma, an indigene of Ikom in Cross River, said that lack of funds and seeds was a major challenge to his interest in establishing a large cassava farm in his community.

 

“I am interested in cultivating a large cassava farm, but I don’t have the needed funds and other basic inputs. The government should support us with loans and grants as they are doing for other farmers.

 

“Many of us do not have the money to cultivate our small farms, let alone venture into large-scale farming. We need money to hire manpower, farming requires many hands, and the cost of hiring workers is so high,” he said.

 

Also speaking, Mike Ewa, from Boki, said that the current economic situation in the country had affected his plan for massive investment in farming during the rainy season.

 

“People may look at us as very small-scale farmers, but we need the same inputs as the large scale farmers. We need fertilisers and pesticides too, but where is the fund to procure these items,” he said.

 

Elijah Ugani, from Yala, shared similar views with Ndoma and Ewa, and joined the call for government support.

 

“By leaving the city to work in the farm, we are promoting the call for food security. Apart from feeding our families, our produce are also sold in the markets to those who may not have the time to cultivate, so we need the support of the government,” Ugani said.

 

When contacted, the Commissioner for Information in Cross River, Dr Erasmus Ekpang, said that the Bassey Otu-led government was committed to supporting all categories of farmers in the interest of food security and sufficiency.

 

“Our government has been supporting farmers with inputs, we are committed to do more. Those who have yet to get our support should exercise patience,” he said.

In Rivers, the farmers also called for government support, and described wet season farming as a great opportunity to eliminate hunger and poverty.

 

The farmers who described the wet season as the best for crop yield stated that the benefits of rain to the soil and crops were numerous and should not be undermined.

 

The President, Etche Farmers Cooperative Union, Mr Godwin Akandu, said that the rains provided a ‘rich opportunity’ for non-mechanised farmers to cultivate their crops.

 

Akandu, who cropped mainly cassava, yam, cocoyam and vegetables, said that although the rains could boost plant growth and yield, excessive rainfall could erode soil nutrients.

”In the event of excessive rainfall, soil nutrients are bound to diminish due to erosion, this development has the tendency to affect crop yeild,” he said.

 

Mrs Imelda James, from Abua, stated that excessive weed was a huge challenge to rainy season farming, saying:” tackling weeds can be strenuous; money is required to hire workers. Let’s not forget that crops and weeds cannot stay together”

 

James, who said that Abua was known for the production yam, plantain, banana, and vegetables among others, said that the lack of fertilisers had negatively affected crop yield.

 

“We cultivate our farms on the same land for several years without applying fertilisers. We also do not use pesticides because the soil here is blessed with natural nutrients, but these nutrients wither away after some time, making the soil to require fertilizers.

 

“To summarise it all, our challenges during wet season farming are weeds, lack of fertilizer and pest control agents. We need the support of the government to surmount these challenges,” she said.

 

In Akwa Ibom, the farmers, said that although wet season farming was capital intensive, it could be very rewarding if the right measures were taken.

 

Mr Akpan Inem, from Ibiono, said that wet season farming should be seen as a serious economic activity, and not a venture for the frustrated in society.

 

Inem said that the government at all levels should provide support to citizens who show interest in wet season farming in order to boost local food production.

 

He said that it took serious discipline and a sense of commitment for people to leave the cities to cultivate farms during the rainy season, adding,” it shows hard work and commitment to be self-reliant. So such persons need to be supported”

 

A Civil Servant in Ikot Ekpene, Mr Aniedi Edet, said that his interest in wet season farming had been plagued by lack of funds to invest.

“From the beginning to the end, farming requires money. You must acquire land, buy seedlings, hire labour, get fertilisers and pesticides, these things are not given for free.

 

“I take my leave every year to cultivate my farm during the wet season, sometimes I am over-worked because I can’t hire workers. My crops die sometimes because I don’t have access to improved seeds and pesticides, the challenges are numerous” he said.

 

Speaking at a recent public function, Dr Owoidighe Ekpoattai, the Special Adviser to Gov. Umo Eno on Agricultural Development, said that the state government was willing to support anyone who was genuinely ready to go back to the farm.

 

“This government has encouraged rural farming by ensuring grassroots access to farming inputs.

 

“As a government, we believe that as long as the earth remains, seedtime and harvest shall not cease. Farming guarantees food security, financial stability and employment. Everyone needs to return to agriculture,” Ekpoattai said.

 

NAN reports that governments across the world are encouraging their citizens to indulge in farming as a way of boosting food sufficiency.

 

Experts say abundant rainfall supports increased crop yield, reduces water scarcity, and provides natural irrigation for soil moisture and germination.

 

Some bank users in Abuja have declared they will opt for electronic mail alerts from their banks to cut costs and reduce charges on their accounts.

 

Some of them who spoke to the News Agency of Nigeria (NAN) on Sunday said they would deactivate the Short Message Services transaction alert linked to their accounts.

 

Mrs Dorathy Azinge, a customer of GTCO, described the increase in SMS charges as exploitative.

 

Azinge said that in spite of various transaction charges debited from her bank account on a daily basis, the bank still increased SMS charges.

 

”This move of increasing SMS charges is very exploitative even though they cited telecommunication charge.

 

”What about all the numerous unwarranted debits that I get from my account, and they are using telecommunication increase as yardstick to increase theirs.

 

”GT will remove different charges from my account until they give me minus balance,” she said.

 

Another customer, Ms Elizabeth Abu, said she would visit her bank to opt for her transaction alerts to be sent to only her e-mail address.

 

Abu who complained about the reduction in her capitalised interest on her account, said the numerous debits were becoming frustrating.

 

” It does not make sense for the bank to charge me for a transaction I did and also charge me for the alert they sent.

 

” It means that customers are the ones paying heavily for all these services.

 

” These charges are reflecting on the profits declared by these banks, and we are the ones paying for this,” she said.

 

Mr Clement Arubu, a customer with First HoldCo Plc, said he received various transaction debit alerts from his bank totalling N1, 050 monthly.

 

Arubu said the debits were huge, especially when calculated between 10,000 customers of the bank.

” Most customers receive these alerts and neglect them because to them, the money is small but when you debit the same money from about 10,000 customers then, you can be sure that the money is huge,” he said.

Mrs Catherine Itoha,, said a bank had yet to reverse over N20,000 debited from her account through various failed Point of Sale transaction since about 11 months.

 

Itoha urged some banks and their staff to adopt principles of fair practice in handling their customers.

 

” Customers are the reason why banks are in existence so, we deserve to be treated fairly.

 

”GTB debited me in about four different transactions that I did but up till now, they did not reverse any of these monies.

 

”I visited the bank, filled forms, spoke to their staff personally but still the issue was not resolved since last year.

 

”If this money did not go to a staff, it means it is part of their profit,” she alleged.

 

Mrs Esther Arthur, a Fidelity Bank customer alleged that some of the banks were making profits from charges on customers for their transactions.

 

Arthur described the situation as sad and frustrating, recounting,”I withdrew N10,000 from a First Bank Automated Teller Machine and the machine showed me that I will be charged N100 because it wasn’t my bank.

 

”When I finished the transaction, to my greatest surprise an alert came into my phone and when I checked it, it was an alert of N630.00 against the N100 on-site ATM charges that the Central Bank of Nigeria instituted.

 

”This is so sad,” she said.

 

Mr Augustine Ode, a Zenith Bank customer, appealed to the CBN to check excesses of some banks that were allegedly defrauding customers.

 

The News Agency of Nigeria (NAN) reports that GTCO had informed its customers of the SMS transaction alert fee increase from N4 to N6 per message.

 

The bank had said that the adjustment was due to a recent increase in telecom rates.

GTCO also informed its customers who preferred not to receive transaction alerts via SMS, to update their preferences by completing the transaction alert form on the bank’s website and send to gtbankmailsupport@gtbank.com.