GTCO to retain zero POS charges to support SMEs — Agbaje

By Abubakar Yunusa

The Group Chief Executive Officer of Guaranty Trust Holding Company, Segun Agbaje, has said the bank’s zero Point of Sale charges policy is a permanent strategy to support small and medium-sized enterprises in Nigeria.
Agbaje made this known on Tuesday during the company’s virtual Annual General Meeting monitored by Nairametrics.
He stressed that the zero POS processing fee was not a temporary incentive but a long-term commitment.
The assurance follows the removal of processing fees on all GTBank POS terminals, a move aimed at easing the burden on businesses.
Responding to shareholders’ concerns, Agbaje dismissed suggestions that the initiative was a promotional campaign.
According to him, the policy is central to the bank’s business model and will remain in place indefinitely.
He noted that many small businesses in Nigeria struggle with transaction charges, which often limit their ability to grow.
Agbaje said removing the fees would enable merchants to operate more efficiently and expand their operations.
He added that the bank remains committed to balancing the interests of its investors.
The GTCO boss explained that while institutional investors seek capital appreciation, retail investors are more focused on dividends.
He assured shareholders that the bank would continue to pursue both objectives, with plans to sustain dividend growth.
The zero POS charge policy, introduced in 2025, allows merchants to receive payments without incurring Merchant Service Charges.
The initiative is expected to reduce operating costs for businesses and improve customer experience.
GTCO said the policy aligns with its broader goal of empowering enterprises and driving economic growth.