The Nigerian banking system has in the past few years gone through circles that have led to the emergence of some strong and formidable banks with an impact not just within Nigeria any more but globally. Guaranty Trust Bank, now known as Guaranty Trust Holding Co., is one such institution.
Through digitalization, the Nigerian banking industry has moved from the mainstream banking system it used to be to a technological and self-service banking system. Through the digital banking system, bank customers can now perform as many transactions as they wish anywhere, anytime, as long as they have access to internet connectivity or a mobile phone.
The iconic Guaranty Trust Bank, with its distinctive orange colour square and window insert, has been able to successfully pivot and navigate the various levels of development owing to its successively dynamic leaders, one of whom is its current GMD, Segun Agbaje.
As a Nigerian and a Guaranty Trust Bank account holder, you probably have had the need to make use of the *737# shortcode to access GTB banking features.
Under the leadership of Segun Agbaje, he introduced and popularised the Unstructured Supplementary Service Data (USSD), an interaction finance service that allows customers to transfer and receive payments, pay utility bills, recharge phones, and perform other self-service transactions via the Short Message Service (SMS).
More do-it-yourself banking systems have emerged since the evolution of USSD, ranging from bank apps that allow customers to do more than what they can on USSD by using their internet-connected smartphones. The Nigerian central bank also recently approved the e-naira wallet and digital currency.
Segun Agbaje’s His Early life
Segun, the younger brother to Lagos-based politician Jimi Agbaje, was born in 1964, to Chief Julius Kosebinu Agbaje, a banker, and Mrs. Margaret Olabisi Agbaje, a teacher.
Segun Agbaje attended St Gregory’s College, Obalende, Lagos State, Nigeria, and St Augustine Academy, Kent, England, for his secondary education. He then proceeded to University of San Francisco, California, where he earned Bachelor of Accounting and Master of Business Administration degrees.
His Career
Segan began his career working for Ernst & Young in San Francisco, one of the largest professional services networks in the world. In 1991, he moved back to Nigeria, where he started working for GTBank. He he rose through different career positions to become the Executive Director in January, 2000, and Deputy Managing Director in August, 2002, respectively.
In 2007, he oversaw GTBank’s listing on the London Stock Exchange, which raised US$750 million, as well as the successful placement of Nigeria’s first private Eurobond issuance. Four years later, he was named chief executive officer. Today, the bank has total assets of more than $9.7 billion.
He was appointed as the acting Managing Director of GTBank in April 2011, during the medical leave of the former CEO, Tayo Aderinokun. Upon Aderinokun’s death, Agbaje was named the MD/CEO of the bank.
In July 2020, PepsiCo Inc., an American multinational food, snack, and beverage corporation, announced through its Board of Directors the election of Segun Agbaje as an independent member of the Board.
Awards Won By GTBank Under Agbaje’s Leadership Include:
- Best Bank in Nigeria by Euromoney;
- African Bank of the Year by African Banker Award;
- Best Bank in Nigeria by World Finance UK;
- Most Innovative Bank by EMEA Finance;
- Best Banking Group by World Business Leader Magazine
- The Banker Awards’ Best Bank in Nigeria award
He won the CEO of the Year award at the 2015 Finance Monthly Global Awards, which were held in London.
