Sterling Bank tweeted an advert that was interpreted as a diss towards other banks. The symbols of other banks were incorporated into the advert.
Some of the other banks responded with shades of their own, but GTBank did not respond.
Then rumours emerged, the next day, that GTBank had reported Sterling Bank to the Central Bank (CBN). CBN rules prevent banks from demarketing their competitors. Demarketing means spreading rumours, creating adverts, etc in order to discourage people from using the services of your competitor.
Sterling Bank has now apologised for the advert and deleted the tweet.
In a tweet that reads;
“Our apologies go out to all the banks -the likeness of whose logos & buildings featured in a post which we have since deleted. We remain committed to building an organisation that enables our youth find expression & we will continue to do this in the most responsible fashion.”
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