Connect with us

Uncategorized

Changemakers: Segun Agbaje, Building A Great African Institution Through Digital Transformation

Published

on

By Steve Coomber 

When is a bank not a bank? That is a question Segun Agbaje, the multiple award-winning CEO and Managing Director of Nigeria’s Guaranty Trust Bank (GTBank) has been getting to grips with as he forges a new path for banking in Africa.

Agbaje was always destined to become a banker, it seems, although he took a circuitous route. Initially, he qualified as an accountant and practiced in the US before tiring of auditing and returning to Nigeria to follow his father’s footsteps into banking. There, in 1991, he joined an exciting new venture, the Guaranty Trust Bank, founded by a group of young Nigerians the previous year.

As he worked his way up through positions of increasing responsibility, several events in which Agbaje played a leading role shaped his thinking about GTBank’s future: the initial public offering in 2004, listing on the Lagos stock exchange; entering the international capital markets with a Eurobond issue and listing on the London Stock Exchange in 2007.

“Those transactions exposed me to the international financial markets and the people who worked in them – merchant banks, investment bankers, lawyers, investors,” he says. “It gave me a better understanding of what people wanted from a first-class bank and best-in-class practices. It also encouraged me to think about the bank as an international institution, rather than just a Nigerian institution, and what it took to compete in the global economy.”

Agbaje became CEO of GTBank in 2011 and won the coveted African Banker of the Year award the next year. The award recognises financial industry leaders throughout Africa who have exercised “good vision and leadership” in guiding their organisation to strong financial performance, as well as having contributed to the impact of Africa’s financial services industry internationally.

During his tenure as CEO, the bank and Agbaje have won numerous awards. What is particularly interesting is the trend in types of award since GTBank has been under Agbaje’s leadership. Awards for financial performance have been joined by Innovative Bank awards, Best Mobile Banking and Mobile Money awards, Best Digital Bank awards and, most recently, Digital Wallet of the Year award.

Photo by
Tybello

Latest thought leadership articles
Changemakers: Misha Engineer
Changemakers: Reem Althawadi
Changemakers: Helena Morrissey
‘I’m not sure that, if we removed the word “bank” in five years, we would be losing anything. We might actually even be gaining something’
This trend reflects Agbaje’s pioneering attitude towards digital transformation and the role of banking. Traditional bankers might think his view of the bank’s future a radical departure from mainstream banking, but for Agbaje it is change that has to happen: “Banks are going to become platforms, so we will become a trusted single, integrated platform,” he says. “Because the competition for banks has changed, where it was once other banks, now it is fintechs, telcos, Apple Pay, PayPal, payday-loan companies, salary-advance companies, even coffee shops. Any bank that stays with the traditional banking model is going to get smaller and smaller. All these other companies will be taking part of your share of business.”

If some of the digital giants, like Google and Apple, start to develop banking services, the word ‘bank’ could soon be associated with inefficiency and a lack of innovation, he adds. “I’m not sure that, if we removed the word ‘bank’ in five years, we would be losing anything. We might actually even be gaining something.”

While there may be a lot of disruption in the banking sector, Agbaje has a head start on many traditional banks. For example, the bank launched its Habari mobile platform in November 2018: “What we’re trying to create is something where, when you come to the bank, however you do that, you are not just coming to pay and receive,” he says. “You can come into our ecosystem and do just about everything – pay for tickets, book holidays, stream music, buy online, watch videos, and then, because we are a bank, we can provide the payment engine.”

The reputation of bankers and banking took a knock following the global financial crisis and Agbaje is well aware of the challenge banks face in terms of their relationship with the societies they serve. “A banking licence is a privilege, given to you by the regulator. Banks owe a social responsibility to the communities within which they operate,” he says. “Just as we monitor profits, costs and return on equity, we must also monitor how much we give back in terms of social responsibility.”

This is not just talk. The bank interacts with the community in many ways, from football education programmes and tournaments to its internationally renowned annual conference on autism (now in its ninth year); from its You Read Initiative aimed at promoting a culture of reading to the Social Impact Challenge designed to unearth ideas that can enrich the lives of local communities.

Many of the bank’s CSR initiatives are aimed at community development, promoting entrepreneurs and small businesses. For example, there is the GTCrea8 Convention aimed at helping undergraduates “build successful businesses out of their passion”. The bank is also building shared service facilities for businesses in the food and fashion sectors, so that these small businesses can benefit from the economies of scale enjoyed by large companies without the overheads.

The initiatives reflect Agbaje’s passionate belief in Africa’s economic potential: “It is a continent that I am completely bullish about, because I don’t think there are many places in the world that have both the natural resources, the human population, the distribution of millennials; who are just incredible people. If you are able to tap into and unleash that human capital potential it is a continent that has a huge growth upside,” he says.

“What we have in Africa is a leadership problem. There are pockets, organisations, where the leadership is good. Those organisations function the way you would in a developed economy. If you start to get people with a track record of achievement running things – whether that is in countries, governments, parastatals – they will bring that excellence and achievement to government and Africa will start to change.”

He is just the leadership role model that the younger generation needs. “My values are simple ones. I believe in hard work, humility, integrity, discipline. Those are the things that drive me,” he says. “If you have those values, show them, inculcate them into all the decisions that you make and you will be fine.”

He has naturally given some thought to what he might do after his time at GTBank: “Maybe I will get another platform to do something in the private sector. It could be in a completely different sector to banking. My first choice would be an Africa-focused organisation. A second option would be something, if not solely focused on Africa, with an emerging market emphasis.”

He would also be interested, he says, in mentoring young people with small businesses; helping them to think about organisational structure and governance, for example.

But for now, with two-and-a-half years left on his contract, he is fully focused on the transformation underway at GTBank. “I’m not finished,” he says. “We are trying to build a great African institution; putting the bank in the position I think it should be in – not just financially, but socially, being a well-run enterprise.”

Agbaje is not someone to trumpet his achievements, but if his vision for the future of one of Africa’s largest and most important banks comes to fruition, more plaudits are likely to be heading his way.

Agbaje on leadership:

“My role is first to set the tone, to talk
the talk. When we set a vision, goals, 
objectives, values, I have to be seen to 
live and walk those.”

“I like to be involved in a lot of the key 
decision-making. So it is a balance: being 
really handson, so that I know what is 
going on, while also giving people a large
degree of autonomy, because the number 
of people reporting to me means that I 
cannot micro-manage them – I rely on 
their abilities.”

“I believe in a flat organisational structure. 
I don’t believe in creating silos. I would 
rather have a squad as opposed to a team, 
which means I probably have more direct 
reports than most CEOs.”

Continue Reading
Advertisement

Uncategorized

Aliu Gafar delivers stellar performance as Esusu in Femi Adebayo’s Seven Doors

Published

on

By

 

By Rtn. Victor Ojelabi

The much-anticipated movie series Seven Doors by Femi Adebayo has finally premiered, currently showing on Netflix, captivating audiences with its intricate storytelling and compelling characters.

The movie begins with a haunting scene of seven women under a mysterious spell leaping to their deaths from a waterfall, setting the tone for a gripping tale that unravels in Ilara Kingdom.

The series explores various societal issues, including corruption, greed, gluttony, family values, malicious conspiracies, and the delicate balance of law and order.

Central to its plot is the calamitous fate of Oba Adedunjoye, the Onilara of Ilara, whose failure to perform traditional rites—symbolised by knocking on seven doors—unleashes devastating consequences on his kingdom.

At the heart of this chaos is Esusu, a malevolent and exiled villain whose return wreaks havoc.

Esusu, a ni ohun t’Eledumare o ni.
Eledumare o ni ika, ika ni Esusu

The character of Esusu, pivotal to the story’s depth, is masterfully brought to life by Aliu Gafar.

Gafar’s first appearance, late in Episode 2, immediately shifts the narrative, introducing a chilling force that spares no one, not even the royal family. His commanding portrayal encapsulates the essence of Esusu, a man whose wickedness defies comprehension.

The backstory reveals Esusu’s sinister pact with Ọba Adejuwọn, an ancestor of Adedunjoye.

Desperation led Adejuwon to seek Esusu’s help to evade death—a move that came at an unthinkable cost, forgetting that bi alọ ba lọ, abọ nbọ (a pendulum that swings to is still coming to swing fro).

Esusu’s return demanded not only royal treatment but the freedom to live as he pleased, challenging the very fabric of the kingdom.

Gafar embodies this complex character with remarkable precision, delivering a performance that is both chilling and unforgettable.

With almost two decades in Nollywood, Aliu Gafar has solidified his reputation as a versatile and dedicated actor.

His extensive filmography includes acclaimed productions such as Jagun Jagun, Anikulapo, Iyalode, Eefin, and Omo Ajele.

His role in Seven Doors further cements his legacy as a master of his craft, showcasing his ability to seamlessly portray multifaceted characters.

The Yoruba actor has also garnered accolades for his work, including the Best Actor award at the Dallas International Yoruba Movies Awards for his role in Peregun.

His commitment to the industry and his talent for captivating performances continue to make him a force to be reckoned with in Nollywood.

In Seven Doors, Gafar’s nuanced performance as Esusu elevates the series, demonstrating his ability to command attention and bring depth to a complex narrative.

His contribution to the Nigerian film industry remains invaluable, and his portrayal of Esusu is a testament to his enduring excellence.

Continue Reading

Uncategorized

Ogun State Prominent Monarchs, Business Tycoons, Others Honor Olusho Agba At The Confession 2024

Published

on

By

 

The Olusho Agba’s confession 2024 attracted more dignitaries as three respected monarchs in Ogun honour the event by physical appearance, alongside side most prominent CEOs in Ogun.

 

The royal fathers present at the laudable event held at Continental Suits in Abeokuta include HRM Oba Oyabanji Adetunji (Oloja Of Oja Odan) HRM Oba Buhari Makinde (Oniwoye of Iwoye Land) HRM. Oba Lukmon Kuoye (Olu of Imasayi).

 

Also Chief Executive Officer of IBD Foundation, Dr. Mrs. Lara Dende, the Chief Executive Officer of Pelican Valley Nigeria Limited Amb. Dr Tunde Adeyemo and CEO of Zolakaz Oil and Gas Alh. Sanni Azeez was also present at the event.

 

The Confession 2024 features a series of content creators, comedians, singers and dancers, and artists of different fields such as Dr Smile, Hafeez Oyetoro (Simply Saka), Woli 3310, Chukwuka Jude, Babalegba

Biola Adekunle, Femi Obimodede, Ishau Abidemi, and many more.

 

Below are some pictures from the event…

Continue Reading

Uncategorized

Wife drags Ex-UBA Top Shot, Samuel Eziafa Adikamkwu to court over abandonment of family, infidelity …….Petitions IGP over threat to life

Published

on

By

 

Federal Capital Territory High Court sitting in Gudu District and presided over by Justice M. Osho-Adebiyi, on Wednesday adjourned to January 19, 2025 a divorce case instituted by Mrs. Loretta Adikamkwu against her husband, Samuel Eziafa Adikamkwu, a former top official of the United Bank for Africa (UBA).

 

The mother of four, Mrs. Adikamkwu has dragged her husband of over 31 years to court for divorce over abandonment of the family for more than four years and alleged infidelity.

 

According to court document seen by our reporter with Suit number PET/073/2023, Mrs. Adikamkwu alleged that her husband packed out of their matrimonial home at Recreation Drive, Cooperative Villas, Badore, Ajah, Lagos and removed almost all his belongings therefrom (which included personal chattels, clothing and six vehicles of assorted brands) leaving behind the petitioner only vehicle (a Toyota land Cruiser) he gave to her some years back.

 

 

She further alleged that Mr. Adikamkwu withdrew all financial support and upkeep to the family, prompting her to desperately begin to dispose of all her belongings, in order to feed herself, the children and meet urgent Sundry costs, arising from the running of the home.

 

She also alleged in Paragraph 6(c) of her petition that after her husband abandoned his family, he was said to have been cohabiting with a lady called Miss Stella Umejuru with whom he regularly travels outside Lagos for business.

 

Mrs. Adikamkwu declared that her husband, who was formerly a Lecturer at Bendel State University, (now Ambrose Alli University), Ekpoma before Ndidi Elumelu, his friend, facilitated his employment by the United Bank for Africa (UBA), has no reason whatsoever not to cater for his family as he is now engaged in booming property business after leaving the bank.

 

 

 

According to the lady, who is a graduate of Bendel State University, she would have been financially independent and be in position to cater for herself and the children but for her husband who stopped her from working several years ago.

 

She stressed that because of the financial difficulties she was facing with her children she was compelled to sell the Toyota land Cruiser which her husband gave to her some years back to maintain the house that was dilapidating, settle numerous bills, including electricity and other sundry expenses.

 

The lady lamented that her husband got furious when he heard she had sold the car and he succeeded in retrieving the vehicle from a car dealer and the issue is now a subject of police investigation as some unknown persons have been stalking her and threatening her life since the family feud erupted.

 

 

However, the Respondent vehemently denies the averments contained in paragraph 6(c) of the petition and states that he does not know, neither is he acquainted with anybody ( lady) called Miss Stella Umejuru, and denies that he lives or travels with either the said lady or any lady at all.

 

The Respondent also denied the assertions contained in paragraph 6(d) of the petition and denied that he has committed adultery or that he has deserted the petitioner.

 

He admitted he is no longer living in the family house in Lagos as he had to “temporally relocate to Abuja when he secured a Contract Appointment with The Abuja Electricity Distribution Company Plc (AEDC) from 2021 to June, 2024.

 

Mr. Adikamkwu added an affidavit in response to his wife’s petition that he “is not aware that there is any debt burden on the family, but states that if there is any such debt, it is personal to the petitioner.”

 

 

Meanwhile, Mrs. Adikamkwu has petitioned the Inspector-General of Police over issues arising from the sale of the Toyota Land Cruiser which her husband gave her several years ago.

 

The letter to the IGP dated 4 October, 2024 titled “SOS-request for urgent intervention in a case of forgery, threat to lives and high handedness by officers of the Bar Beach Police Station, and Zone 2 Command, Onikan, Lagos” was written on her behalf by one of her Lawyers, Benjamin Nwaokenye, Esq of Integrity Partners law firm, Abuja.

 

Part of the letter reads: “We are solicitors to Mrs. Loretta Adikamkwu (hereinafter referred to as “Our client”, at whose behest, we act in this matter. We write to seek your urgent intervention in a looming threat to the life of our client, and a seeming case of forgery perpetrated against her, by Ojebola and Messrs, Sam Adikamkwu, Segun Ajide, Gbenga ASP Churchill of the Bar Beach Police Station, Lagos.

 

 

To put this matter in the right perspective, we are reliably informed by our aforesaid client that: (a) She was hitherto married to one Mr. Sam Adikamkwu , from whom she is now separated and now locked in a bitter judicial process, in a petition for divorce in PET/073/2023, at the High Court of the Federal Capital Territory, Gudu, Abuja).

 

“(b) The aforesaid Mr. Sam Adikamkwu, prior to the aforesaid divorce proceedings, vacated their Badore (Ajah) residence, where he hitherto resided with our client, and removed almost all his belongings therefrom (which included personal chattels, clothing and six vehicles of assorted brands) leaving behind our client, only vehicle (a Toyota land Cruiser) he gave to our client some years back, and strangely, a short machine gun, which was discovered in his wardrobe, in the course of cleaning the house, having forgotten to lock the bedroom door. ( see attached pictures)

 

The aforesaid Mr. Adikamkwu, it must be reiterated, withdrew all financial support and upkeep to our client and the family, prompting our client to desperately begin to dispose of all her belongings, in order to feed herself, the children and meet urgent Sundry costs, arising from the running of the home.

 

“In the course of disposing of her personal belongings, our client contacted one Mr. Segun Ajide, a car dealer, to assist in disposing off her Toyota land cruiser, and thereupon delivered to him, the Original custom and purchase papers of the vehicle, which the dealer demanded.

 

“Mr. Ajide sold our client’s vehicle, debited her with some colossal costs and remitted the balance to our client.

 

“Weeks afterwards, Mr. Ajide contacted our client to inform her that the vehicle had been impounded from the purchaser by Mr. Adikamkwu, with the help of one Mr. Churchill of the Bar Beach Police Station, and thereupon requested our client to intervene.

 

 

Our client insisted on intervening only if a formal invitation was sent to her, which the aforesaid persons could not procure, but resorted to harassing our client.

 

“Mr. Segun was later to inform our client that the vehicle had been released to Mr. Sam Adikamkwu by the Bar Beach Police Station

 

“Upon the request of our client to Mr. Segun Ajide for copies of all documents related to the sale, Mr. Ajide was evasive, until Mr. Adikamkwu filed his answer to our client’s petition wherein, it was discovered that several documents were forged by Mr. Ajide and the eventual purchaser Mr, Odebola, in the alleged sale without probable cause. .

 

“Prior to discovering the forgery, our client had been trailed by strange people, who at different times followed her home, and even laid siege on her place of resident at Recreation Estate Badore, forcing her to flee for her safety, to an unknown location.

 

 

Our client a few days back, received a WhatsApp invitation from the Nigeria Police Zone 2 Command, Onikan, Lagos, which directed her to meet up with someone, only whose phone numbers were stated in the invitation, but upon calling the line, our client was shocked, that the number was not allocated, causing more anxiety that, it must be a setup.

 

“Sir, our client is unable to carry on her normal business and live a normal life because, she has been living in fear for her safety, believing her life is endangered by the activities of Messrs. Adikamkwu, Ajide and Odebola, who from all indications, are behind her travails, having opted to brow’ beating her into retrieving the vehicle for them, and they are all men of means who can effectuate their threats.

 

“We are informed by our client also that, before the situation got to this dimension, Messrs. Ajide and Odebola, who from all indications, are behind her travails, had consistently called our client to know her where about, and had requested she came with them to see some policemen, without any arrest or invitation.

 

 

Sir, we solicit your esteemed indulgence to cause an investigation into this matter, to safeguard the life of our client from people who are determined to use their police friends, to intimidate and endanger our client, taking into consideration: (a) The forgeries executed by Messrs. Segun Ajide, Gbenga Ojebola and Sam Adikamkwu, using policemen from Bar Beach Police station, far removed from Ajah division of the police, in an attempt to cover same up, and revalidate their actions.

 

(b) The threat to our client’s life in the whole circumstance.

 

(d) The release of the vehicle By the Bar Beach police station, to Mr. Adikamkwu, without any probable cause.”

Continue Reading

Trending