By Hassan Osman Kargbo
Guaranty Trust Bank (SL.) Ltd. has strongly denied recent social media allegations suggesting that the Bank of Sierra Leone (BSL) is preparing to shut down its operations over claims of account falsification and conspiracy.
In a firm and detailed statement released Tuesday 6th May 2025, the bank dismissed the accusations as “spurious” and “completely false,” calling on the public to disregard the claims, which it says are designed to damage its reputation and that of its officers.
“The Bank wishes to refute this claim in its entirety and state categorically that it is completely false and is designed to bring the image of the Bank and its officers to disrepute,” the statement read.
The allegations, which surfaced online earlier this week, quickly circulated across various social media platforms, prompting concern among some customers and members of the public. However, Guaranty Trust Bank SL. has moved swiftly to reassure its stakeholders that it remains fully compliant with national laws and regulations; and that its operations continue undisrupted.
While the bank refrained from engaging in a direct confrontation with any media organization responsible for spreading the misinformation, it did issue a stern warning, stating that it “will not hesitate to pursue legal action for defamation against our brand or for inaccurate reporting.”
The bank, which has been a fixture in Sierra Leone’s financial sector for over two decades, emphasized its long-standing record of ethical conduct, corporate governance, and regulatory compliance. “Guaranty Trust Bank SL. Ltd. is committed to upholding ethical practices. As an industry leader with more than twenty years of operation in this esteemed country, we adhere to strong corporate governance and strictly comply with both national laws and the policies set forth by our regulators,” the statement added.
In a bid to calm nerves and maintain public confidence, the bank reassured its customers and the general public that it remains fully operational and focused on delivering safe and transparent financial services.
“We strongly encourage our customers and the public to completely disregard this unfounded allegation. Guaranty Trust Bank SL Ltd. is committed to maintaining the highest ethical standards and will never partake in any unethical practices,” the bank stated.
The incident highlights the growing challenge financial institutions face in an era of viral misinformation, particularly on social media platforms where unverified claims can spread rapidly and cause panic or reputational damage.
Industry analysts note that while social media remains a useful tool for communication, it is increasingly being misused to propagate false narratives that can impact public trust and financial stability.
Guaranty Trust Bank SL. concluded its response with a message of gratitude: “Thank you for your continued support and trust.”
As of the time of this report, the Bank of Sierra Leone has not issued any public statement related to the claims. However, sources within the regulatory authority describe the reports as entirely unfounded and confirm that GTBank SL. remains in good standing with all its regulatory obligations.
