Wednesday, July 22 2020 Segun Agbaje, the Managing Director of Guaranteed Bank of Nigeria, reportedly walked in confidence into the board meeting, with the idea of choosing either Miriam Olusanya or Jide Okuntola to emerge as the Deputy Managing Director and subsequently take over as MD from him as His tenure ends in June 2021.
Segun Agbaje who is currently on his 2nd and final consecutive term as stipulated by law, with the alleged backing of Mrs Demuren-led board, recently gave him the go ahead as Group Managing Director after 20 years in executive position in the bank.
The board, which allegedly appears to always approve everything sent by Agbaje, seems to be embarrassed considering the array of more senior and experienced Executive Directors. Meanwhile, the two rookie Executive Directors being proposed to be fast tracked to serve as his 3rd term is believed not to be able to match-up in experience and technical skills. Hence to save its face, the board rejected Agbaje’s nominee and according to reports, one of the highly respected non Executive Directors on the board resigned at the meeting as a protest of Agbaje’s alleged domineering attitude of board members.
However, there has been a lot of conversations around the whole issue, many are hopeful that the only surviving Founder of GT bank, Mr Fola Adeola would step in and rescue the bank from an Imminent crises.
Akinwale Michael writes from Lagos
