The travesty at GTBANK…How Segun Agbaje plotted his trajectory from bank MD to Group CEO, Used Emotionally Disturbed Miriam Olusanya to Continue His Reign

Guaranty Trust Bank (GTBank) recently appointed Miriam Olusanya as its MD/CEO, this to many signifies the new era of women leadership in bank as Ireti Samuel-Ogbu of Citibank Nigeria Limited, Tomi Somefun of Unity Bank, Nneka Onyeali-Ikpe of Fidelity Bank, Yemisi Edun of FCMB, Halima Buba of SunTrust Bank have shown the exceptional abilities of women leading in Nigeria’s financial industry.

One thing however is, all these women bank CEOs rose to their position deservedly through hard work and they are also enjoying the full support of their banks board except for GTBank’s Miriam Olusanya. Story has it that for Olusanya to emerge and for her appointment to be seen as just, all those who are more capable and her above her are forced into retirement by Segun Agbaje who will still want to be the main man making decisions in the Bank.

Information reliably gathered is that Agbaje’s decision to veto Olusanya who is emotionally disturbed over the divorce proceedings filed by her husband in far away USA on the bank was a long carefully planned move, the plan insider revealed is to take over the entire managerial dynasty of the GTBank from the original founders of the bank Fola Adeola and late Tayo Aderionokun.

This, sources revealed was responsible for the silent removal of two of the bank’s oldest and most respected Executive Directors in Demola Odeyemi and Haruna Musa, who he asked to resign after illustrious years of service to the bank in a purported management restructuring he introduce.

His takeover plan was made easy when the bank’s substantive Deputy Managing Director (DMD) Banjo Adegboungbe, who would have easily stepped into the shoes after him was in a move allegedly fast tracked by Segun Agbaje, appointed in February 2020 as the substantive MD/CEO of Coronation Merchant Bank and his position deliberately left open just to hatch his planned total control.

With the delisting of GTBank both in Nigeria and London Stock Exchange to be replaced by Segun Agbaje’s newly formed Guaranty Trust Holdings Company (GTCo), where he currently occupies the position of the Group Chief Executives Officer (GCEO), it will be right to say the legacies and labour of Fola Adeola and Late Tayo Aderinokun, the two founders of the GTBank has been swallowed by the cunning scheming of the man whose father was the first Chairman of the bank.

Sources in the financial sector quipped that intelligent Agbaje can be called the “Maradona” of Nigeria’s financial industry as his restructuring coup has seen nearly all the old hands asked to move on with young once below 45 years appointed to management positions a situation that will leave him as the most experienced in the company this coupled with the fact that GTBank has now been restructured to now makes the bank a private limited company a situation that was behind the bank being delisted from the Nigerian Stock Exchange and the London Stock Exchange, to now become a subsidiary of the Guaranty Trust Holding Company Plc, which will operate as the parent company.

Agbaje as the head GT HoldCo means Agbaje will be taking over a higher position, as GTBank will remain under his control as head of the HoldCo. Though, the HoldCo will parent several subsidiaries which is projected to include Fintech, ecommerce, insurance and other companies it sees fit to own for revenue expansion, but he will remain in the bank as long as he wants since the HoldCo is not under the CBN mandated 2 terms of 10 years leadership rule.

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