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Tag: GTBank

  • GTBank confirms website domain hack

    GTBank confirms website domain hack

    Guaranty Trust Bank Plc, popularly known as GTBank, has confirmed an attempt to compromise its website domain.

    GTBank disclosed that its information security experts are currently working round the clock to restore the domain settings.

    The bank’s management disclosed this in a statement made available to newsmen on Thursday in Lagos State.

    The bank said that the hacking attempt occurred on Wednesday, a day after the bank renewed its domain name, causing a temporary disruption to the website, which left customers unable to access online services.

    It allayed concerns about customer data being compromised, noting that the bank did not store customer information on its website.

    The bank said: “Our attention has been drawn to reports in the media alleging that hackers have seized the bank’s website, cloned it, and intercepted customers data.

    “This led to widespread concern and media reports suggesting that the bank’s website had been cloned, potentially putting customer data at risk. The incident was unsuccessful and its website was not cloned.

    “While there was an isolated incident of an attempt to compromise our website domain, we would like to assure all our customers and stakeholders that the bank’s website has not been cloned and that we do not store customer information on our website.

    “As such, there has been no instance of compromise of customer data.

    According to the bank, the financial institution’s information security experts are currently working round the clock to restore the domain settings shortly.

    The bank reassured of its unwavering commitment to safeguarding customer data, urging customers to remain calm and confident in the bank’s robust security measures.

    “We urge all our customers to please disregard the claims in these media reports and assure you of our unwavering commitment to safeguarding customer data,” it added.

    No disruption in our online transactions – GTBank customers

    Meanwhile, some customers of GTBank in the Federal Capital Territory (FCT) say they have been doing their online transactions without hitches.

    The customers who spoke to NAN in Abuja on Thursday, were reacting to reports that the bank’s customers were experiencing difficulties in doing online transactions.

    Mr Solomon Ukah, a customer of the bank told NAN that he had done three different online transactions without hitches.

    Ukah said that although a friend told him of the development, he did not believe because non of his online transactions failed.

    ”I heard about it but today, I have done three different transactions and all of them were successful.

    ”I even contacted people that I sent the monies to and they confirmed receipt of the monies,” he said.

    Mrs Blessing Alinta, also a customer of the bank, said she recharged her phone and cable television through her bank.

    ”I am not aware of it but what I know is that I loaded my phone through my bank account and there was no delay,” she said.

    Another customer, Mr Albert Okilo, said that he withdrew the cash in his GTBank account immediately he heard the news.

    ”I quickly transferred my money from GTB to my other banks but surprisingly, they all went through.

    ”I do not think that this hacking news is real,” he said.

    Meanwhile, GTBank in a statement assured its customers and stakeholders that the bank’s website had not been cloned.

    The bank said ”Alleged Web Domain Hack: GTBank Provides Clarity” read, “Our attention has been drawn to reports in the media alleging that hackers have seized the bank’s website, cloned it, and intercepted customer data.

    ”While there was an isolated incident of an attempt to compromise our website domain, we would like to assure all our customers and stakeholders that the bank’s website has not been cloned.

    ”We do not store customer information on our website and as such, there has been no instance of compromise of customers data,” the bank said.

    GTBank in the statement said the bank’s Information Security experts were currently working round the clock to restore domain settings.

    The bank reaffirmed its commitment toward safeguarding customer data.

    The bank appealed to customers to remain calm and confident in the bank’s robust security measures.

    “Our dedicated team of Information Security Experts is currently working round the clock to restore domain settings, and we can assure our customers that our website will be up shortly.

    “We urge all our customers to please disregard the claims in these media reports and we assure you of our unwavering commitment to safeguarding customer data.

    ”Thank you for your continued support,” the bank said.

  • GTBank contravenes court judgements in favour of Stallion Nig

    GTBank contravenes court judgements in favour of Stallion Nig

    The Federal High Court on Friday, ruled that Guaranty Trust Bank was in violation of the Consent Judgment entered by the Court on 17 December, 2019 and proceeded to set aside the purported execution carried out by Guaranty Trust Bank Plc on 1st February, 2023.

    Ruling on an application filed by the Law Firms of Kanu Agabi & Associates, Wahab Shittu SAN and Bonajo Badejo & Co., on behalf of Stallion,- the Honourable Justice Allagoa of the Lagos Division of the Court, held that the execution, which was purportedly done, while the Court was yet to determine the timeline for the completion of the forensic audit pursuant to the consent Judgment of the Court, was wrongful and done with the intention to undermine the proceedings before the Court.

    The Court of Appeal presided over by the Honourable Justices Daniel-Kalio, Sirajo and Banjoko, had previously delivered Judgment in favour of Stallion Nigeria against Guaranty Trust Bank Plc on 24 February, 2022 and set aside the Ruling of Honourable Justice Saidu in favour of GTB.

    The Court held that GTB, could not rely on it’s own breach of the Judgment to act or levy execution against the assets of Stallion Nigeria. The Court held that the execution which was purportedly carried out on 1st February 2023 and subsequent steps by the Bank was not authorised by the Court.

    The Court proceeded to set aside “any and every step taken by Guaranty Trust Bank Plc before, on or after 1 February 2023 in purported execution of the Consent Judgment of the Court dated 17 December 2019, in the light of the Judgment of the Court of Appeal delivered on 24 February 2022 in favour of Stallion Nigeria.”

    Recall that Guaranty Trust Bank Plc had on 1st February, 2023 relying on the ex-parte order granted by Honourable Justice Saidu on 2nd December 2019, which had expired, and the subsequent consent Judgment, which GTB had breached and violated, tried to illegally enter one of Stallion’s properties in Victoria Island, Lagos.

    Stallion Nigeria in its application, which was granted by the Court had contended that the preliminary KPMG forensic audit report had established that GTB overcharged Stallion, in excess, fraudulent and illegal charges of N4,693,625,637.49. GTB accepted this finding by the auditors.

    Stallion Nigeria contends that it is not owing GTB any longer and that on the contrary, it is on record that it has paid more than what was outstanding to GTB by N6,423,700,000, a fact GTB is fully aware of but continues to violate its own agreement, the court orders, and Judgment of the Courts.

  • Stallion speaks on reports over indebtedness to GTB

    Stallion speaks on reports over indebtedness to GTB

    Stallion Nigeria Limited has strongly debunked media reports of a N13 billion indebtedness to GTB.

    The company in a tersely worded statement on Saturday said the company has been in court on the issue with GTB with the judicial process ongoing.

    The company in a statement issued by its Chief Financial Officer, Samar Sapre said that as the matter with GTB was still an ongoing dispute that it would as such not engage in a media exchange on a matter that remains subjudice.

    The company said it has, however, decided to refute the contents of some media outlets which it said were incorrect and mischievous.

    The company said:

    “Our attention has been drawn to an article circulating around in the media alleging that Stallion is indebted to GTB to the tune of N13 billion. The publication is false and the works of mischief makers as no such debt exists.

    “Stallion has been in court with GTB since 2019 over allegations and claims with Stallion winning against GTB at the Court of Appeal, Nigeria.

    “The matter is yet in court and to that extent remains subjudice. As a law-abiding corporate entity with faith in the Nigerian judiciary, we refrain from commenting on a matter that is subjudice except to clarify that the publication is false, mischievous and a ploy to smear the unblemished reputation of Stallion.

    “We implore the general public to ignore the publication as there is no such court verdict existing anywhere as alleged in the publication. The matter is still pending in court.”

  • GTBank, Zenith Bank in trouble over alleged data breach

    GTBank, Zenith Bank in trouble over alleged data breach

    The Nigeria Data Protection Bureau (NDPB) has commenced an investigation into allegations of data breach against Guarantee Trust Bank (GTBank) and Zenith Bank.

    TheNewsGuru.com (TNG) reports Mr Babatunde Bamigboye, Head, Legal Enforcement and Regulations of NDPB said this in a statement issued in Abuja.

    Bamigboye said the investigations were triggered by allegations of unlawful disclosure of banking records to a third party, unlawful access and processing of personal data.

    National Commissioner of NDPB, Dr Vincent Olatunji in the statement said the investigation would cover the data governance practice of the banks in all their branches in Nigeria.

    He said this would extend to all third parties carrying out their data processing activities.

    “The bureau notes with concern that many data privacy and protection regulations and best practices are hardly implemented down to the organizational strata of major data controllers in Nigeria.

    “Similarly, the bureau enjoins rganisations  to heed the Federal Government circulars and general compliance notice directing them to send the names of their Data Protection Officers/Contacts to the Bureau.

    “There are reports by Nigeria Inter Bank Settlement System (NIBSS) which indicated that within nine months of 2020, fraudsters attempted 46,126 attacks and they were successful with 41,979 occasions representing 91 per cent of the time.

    “This level of vulnerability to data breach is unacceptable,” he said.

    According to him, such attacks can only be addressed through foolproof data security and data privacy measures by data controllers,data processors in the industry.

    Olatunji, however, enjoined all financial institutions to emulate the Central Bank of Nigeria in compliance with the Nigeria Data Protection Regulation (NDPR) 2019 by creating a robust data governance system.

    He also called on all organisations to leverage on the ongoing National Privacy Week to set their records straight on how they handle the data of citizens.

    Olatunji added that enforcement measures would be taken against wilful violators of privacy rights going forward.

  • Firm accuses GTBank, Aribisala of illegally occupying its factory

    Firm accuses GTBank, Aribisala of illegally occupying its factory

    The management of Nosak Nigeria Ltd has appealed to the federal government to intervene over the illegal takeover of its factory by Guarantee Trust Bank (GTBank).

    The appeal was made on behalf of the company by its Group Managing Director, Mr. Thomas Oloriegbe.

    According to Oloriegbe, the said facility was taken over by GTBank through a receiver manager, Ajibola Aribisala.

    Oloriegbe explained that the duo brought in police from Bauchi state to occupy Novak premises at Amuwo Odofin in Lagos state for months now forcing it to stop production.

    He said the court order on which Aribisala claimed to have empowered him to occupy the company premises was vacated by the same court but that GTBank and Aribisala have refused to obey the court declaration that their appointment as receiver manager was illegal.

    Oloriegbe lamented that the 500 staff members of the company are at the risk of losing their jobs as a result of the continued police presence in the company premises. He further stated that in the past seven months since GTBank took over the company premises, the company’s management has been paying staff out of its savings describing the situation as unsustainable.

    Narrating his company’s ordeal in the hands of GTBank and the receiver manager at in statement: “On or about June 2006, Nosak Distilleries Limited obtained various facilities from Guaranty Trust Bank Plc (GTBank) which facilities were duly serviced. However, in January 2013 when Fidelity Bank Plc, one of our lenders in Suit No. FHC/L/CS/24/2013- Nosak Distilleries Limited & Ors vs. Anthony Edoghogho Ogunbor & Ors. appointed a Receiver to manage the assets of the Company as a result of the Company’s alleged indebtedness to Fidelity Bank Plc, GTBank applied through its Solicitors, Kemi Pinheiro SAN & Co to be joined as a party to the suit on the ground that the Company was indebted to it in the sum of N2, 931,254,039.40 (Two Billion, Nine Hundred and Thirty-One Million, Two Hundred and Fifty-Four Thousand, Thirty-Nine Naira, Forty Kobo).

    “Nosak Distilleries Limited (NDL) disputed the debt and contended that the alleged debt had been repaid and that GTBank had made unlawful excess charges and unauthorised withdrawals from its account. The alleged debts claimed were unsubstantiated by GTBank. In an effort to resolve the matter, the parties accordingly drew up terms of settlement dated 2nd July, 2013 signed by all the parties and their respective solicitors. By the terms of settlement, the parties agreed among others to submit to an arbiter/auditor to determine the alleged indebtedness, if any and quantum of same. It was further agreed by the terms of settlement that the decision/report of the auditor/arbiter appointed by the Lagos Multi-Door Court House for the parties, shall be final and binding on the parties and shall form part of the Terms of Settlement and filed in court. The Terms of Settlement subsequently filed in court was entered as the Consent judgment of the court on 11th December 2015 by Honourable Justice Aneke.

    “The Parties were referred to the Multi-Court of the Lagos High Court, which appointed an Arbiter/ Auditor (Babatunde Ayeni) for the Parties. The Arbiter carried out his forensic duties over a period of six (6) months during which GTBank could not substantiate its claim against NDL and the Arbiter in his Final Report dated 16th March 2015 declared that the sum of N2,931,254,039.40 (Two Billion, Nine Hundred and Thirty-One Million, Two Hundred and Fifty-Four Thousand, Thirty-Nine Naira, Forty Kobo) claimed by GTBank cannot be justified, in other words NDL was not indebted to GTBank. The said Babatunde Ayeni in his report of 16th March 2015, requested for the balance of his fees from the parties having concluded his assignment and he was fully paid in 2015.

    “By his report dated 8th January 2016, the Arbiter (the same Babatunde Ayeni) determined, that in respect of the alleged indebtedness of the Company to Fidelity Bank Plc, Fidelity in its computation of the said indebtedness, overcharged the account of the Company by a sum of N949,951,277.00 (Nine Hundred and Forty-Nine Million, Nine Hundred and Fifty-One Thousand, Two Hundred and Seventy Seven Naira), which was liable to be refunded to the Company. In view of the report of the Arbiter as it relates to GTBank, declaring that NDL is NOT indebted to GTBank, the Directors and Shareholders of NDL instituted a fresh action in Suit No. FHC/L/CS/74/16 by Originating Summons at the Federal High Court, Lagos. The action was for the recovery of all payments collected by GTBank prior to the report of the Arbiter and also to set aside the receivership of an earlier Receiver (Akin Obisesan), appointed by GTBank. Upon filing of the Originating summons which was supposed to be heard on the 27th of June, 2016, GTBank subsequently filed a preliminary objection challenging the jurisdiction of the Court.

    “While the matter was pending and without any judgment in their favour, representatives of GTBank, its purported Receiver, solicitors and some prospective buyers entered into our factory with an unsigned warrant from the Federal High Court in an apparent effort to sell the factory and assets of the company and in purported execution of a non-existing judgment debt in suit No. FHC/L/CS/24/2013. Please note that no judge of the Federal High approved or signed any writ of execution in favour of GTBank (as obviously there was no judgment debt to enforce). This abhorrent, illegal and unethical conduct of GTBank and its then solicitors was brought to the attention of the court by an application filed by our solicitors. Honourable Justice M.S. Hassan on the 26th of September 2016 based on our application, set aside the unlawful execution. Subsequently in suit No. FHC/L/CS/74/16 the court granted an order of injunction to the effect that all parties should maintain status quo ante bellum pending the hearing of all applications in the proceedings. GTBank immediately filed an interlocutory appeal at the Court of Appeal challenging the order of the Court. The matter at the Federal High Court was subsequently adjourned sine die. GTB and its then solicitors after about two (2) years or so withdrew the appeal against the order of injunction.

    “We have since applied to the court for the restoration of the suit on the cause so that trial may commence. Please recall that parties in suit No. FHC/L/CS/24/203, i.e Fidelity Bank, GTBank, the Directors of Nosak entered into a term of settlement signed by the parties and their respective solicitors which was filed and entered as consent judgment by Honourable Justice Aneke on 11 December 2015. In compliance with the terms of settlement which made the report of the Arbiter final and binding on the parties, both Fidelity Bank Plc and our Company accepted the report of the Arbiter in good faith and in accordance with the Terms of Settlement. The Company and Fidelity Bank subsequently entered into an agreement on the repayment of the sum determined as outstanding by the Arbiter. The Company completed payment of all outstanding payment to Fidelity Bank in December 2020.

    “Strangely, while the interlocutory appeal in suit No. FHC/L/CS/74/16 was pending, we received a letter dated 1st November 2017, (a period of over two years and eight months after his final report of 16th March 2015) from the Arbiter, Mr. Babatunde Ayeni stating that he had received and reviewed documents from GTBank in respect of the alleged loan and that the company was indebted to Guaranty Trust Bank to the tune of N2,791,333,003.78 (Two Billion, Seven Hundred and Ninety-One Million, Three Hundred and Thirty-Three Thousand, Three Naira and Seventy-Eight Kobo). Please recall that he had completed his assignment in March 2015, requested for the balance of his fees and was fully paid in 2015. It is important to state that Mr. Babatunde Ayeni never notified or requested for documents in respect of the transaction from the Directors of Nosak Distilleries Limited or our Solicitors during the preparation of his new report.

    “The Company filed a new action in court challenging the purported new report dated 1st November 2017 presented by Babatunde Ayeni and Guaranty Trust Bank at the Federal High Court in Suit No. FHC/L/CS/1765/17 and also issued a Petition dated 15th November 2017 reporting the conduct and activities of Babatunde Ayeni to the Institute of Chartered Accountants of Nigeria (ICAN). On the 27th of March 2019, the Hon, Justice M.S. Hassan delivered judgment in favour of Nosak Distilleries Limited declaring Mr. Babatunde Ayeni functus officio and that he could not revisit the process without the consent of all the parties. The Honourable Court further quashed the report of Babatunde Ayeni dated 1st November 2017 and prohibited GTBank from executing and or implementing the content of the report as it pertains the assets and properties of Nosak. In other words that the report cannot be the basis of determination of the alleged debt (if any) between the Parties. Guaranty Trust Bank appealed the decision of the Court, which appeal is pending.

    Strangely and in violation of the judgment in suit FHC/L/CS/1765/2017, GTB and its purported new Receiver Manager, Chief A. A. Aribisala on the basis of that report already quashed, obtained the exparte orders in three separate suits that were illegally enforced on our Companies. “On Friday 29th January, 2021, court bailiffs of the Federal High Court accompanied by representatives of Chief Ajibola A. Aribisala (SAN) and police officers of the Special Protection Unit from Bauchi State (Illegally deployed), purportedly acting further on an Exparte Order granted by Justice A. M. Liman of the Federal High Court stormed the Head Office of Nosak Group at 2, Ramat Crescent, Ogudu GRA, Lagos with stern looking Policemen and forcefully ordered the staff of the Company out of the office premises. In the same vein the team also visited Home Affairs Supermarket at 116, Ogudu Ojota Road as well as Nosak Distilleries Limited premises located at Amuwo Odofin and shut down all operations at the locations. The exparte orders were in respect of three different law suits filed by Chief Ajibola A. Aribisala (SAN) against Nosak Agencies “Limited and Nosak Distilleries Limited in Suit No. FHC/L/CS/14/2021, FHC/L/CS/15/2021 and FHC/L/CS/16/2021 alleging a debt to the Bank to the tune of N4,882,845,134.51(Four Billion Eight Hundred and Eighty Two Million, Eight Hundred and Forty five Thousand, One Hundred and Thirty Four Naira, Fifty One Kobo) only.

    “We immediately filed applications to set aside the orders and the appointment of Chief Ajibola A. Aribisala as Receiver/Manager of the Companies and preliminary objections to the suits. The Court having heard all the parties delivered judgment on 30th August 2021. The court in its judgment upheld the preliminary objections and all the prayers we sought in our objections. The court set aside the deed of appointment appointing Chief Ajibola A. Aribisala and also set aside the appointment of Chief Ajibola A. Aribisala (SAN) as Receiver/Manager of Nosak. Although, we obtained a judgment setting aside the exparte orders and the appointment of Chief Ajibola A. Aribisala, we have been unable to access our office and factory premises which employ over 500 staff as the locations are currently manned by Police officers deployed by Chief Ajibola Aribisala since January 29, 2021”.

  • EXCLUSIVE: Ravaged by Covid-19, GTBank imposes mandatory vaccination for staffers, threatens to slash salaries by 50%

    EXCLUSIVE: Ravaged by Covid-19, GTBank imposes mandatory vaccination for staffers, threatens to slash salaries by 50%

    A protracted Covid-19 emergencies among its staffers has forced Guaranty Trust Holding Company Plc (GTCO), owners of GT Bank, to impose a mandatory vaccination policy; defaulters risk 50% pay cut.

    Recall TheNewsGuru had earlier in the year published a report on how Covid-19 related symptoms affected a large number of staffers of Guaranty Trust Bank (GTB), located at 42 Oyin Jolayemi St, Victoria Island, Lagos.

    In the report, not less than 14 suspected Covid-19 cases were reported in the aforesaid office while a staff member (name withheld) was said to have died after showing symptoms similar to Covid-19, but the bank claimed the deceased died of asthma attack.

    Obtained by TNG on Monday, is an Internal Memo, titled ‘Deadline for Covid-19 Vaccination and dated September, 13, 2021, which was sent by the bank’s Operational Risk Management Team, Ajose Adeogun office in Lagos to all staff members to inform them of the new mandatory Covid-19 jab policy.

    The Memo partly reads, “,,All staff have been mandated to ensure they recive their vaccines in their various locations on/before 30th of September 2021.

    “Please be informed that strting October 2021, any staff that fails to comply will no longer be allowed into the bank’s premises and may be place on half salary.”

    SEE THE MEMO

  • N300.5m tax defaults: GTBank, First Bank land in Kaduna Government’s trouble; head offices, branches sealed

    N300.5m tax defaults: GTBank, First Bank land in Kaduna Government’s trouble; head offices, branches sealed

    The Kaduna State Internal Revenue Service (KADIRS) sealed the head offices and other branches of four banks in Kaduna on Monday over N300.5 million unpaid taxes.

    KADIRS Executive Chairman, Dr Zaid Abubakar identified the affected banks as First Bank, Guaranty Trust Bank (GTB), Sterling Bank and one other bank.

    Abubakar told journalists after the exercise in Kaduna that the money was arrears of taxes payable on masts, towers, and Very Small Aperture Terminals (VSAT) from 1999 to 2020.

    He said that the tax liability of First Bank was N132.6 million; GTB N23.5 million and Sterling Bank of N60.3 million.

    According to him, the exercise is based on the power vested on KADIRS by Section 104 of the Personal Income Tax Act.

    “We have sent demand notices several times as required by law, but the banks refused to come forward to pay taxes due to the state.

    “For example, we have sent six notices to First Bank, four each to GTB, and Sterling Bank.

    “KADIRS is left with no choice than to seal up the banks’ branches.

    “There is, however, a positive response from the affected banks. They have made part payment and signed commitments to settle the outstanding,’’ Abubakar said.

    The executive chairman appealed to all business owners in the state to comply with relevant tax laws and pay all taxes due to the state to avoid being shut.

  • [TNG Weekend Extra] Meet six women calling the shots in Nigeria’s banking industry

    [TNG Weekend Extra] Meet six women calling the shots in Nigeria’s banking industry

    The Nigerian banking industry has never had it this good in a long while having six women call the shots in a relatively male dominated industry.

    What started as a ‘one-off’ case is now gradually becoming the norm in the highly competitive industry.

    In just one week, two big industry players joined the list of commercial banks in Nigeria who have women in charge of affairs.

    TheNewsGuru.com, TNG in this report beam the lights on the women drivers in Nigeria’s banking industry from the newest entry to the last.

    Read on;

    1. Miriam Chidiebele Olusanya – MD/CEO GTBank

    Miriam Olusanya has over 23 years’ banking experience that cuts across Transaction Services, Asset and Liability Management, Financial Markets, Investment Banking and Investor Relations.

    She holds a Bachelor of Pharmacy (B. Pharm) degree from the University of Ibadan, Nigeria and a Master of Business Administration (Finance and Accounting) from the University of Liverpool, United Kingdom. She has also attended several executive management and banking specific developmental programs in leading educational institutions around the world.

    Miriam served as a Non-Executive Director on the Board of Guaranty Trust Bank (Gambia) Limited. She is also a member of the Financial Markets Sub-Committee of the Bankers’ Committee, the primary interactive policy platform made up of the Central Bank of Nigeria and banks.

    She joined the Bank as an Executive Trainee in 1998 and rose through the ranks until her appointment as Executive Director in 2018.

    Until her appointment as MD/CEO, she was the Group Treasurer and Head, Wholesale Banking Division, responsible for balance sheet and financial markets activities of the Bank and its African subsidiaries, Corporate Finance as well as Investor Relations.

    2. Yemisi Edun – MD/CEO FCMB

    Yemisi Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom.

    She is a Fellow of the Institute of Chartered Accountants of Nigeria and a CFA® Charter holder. She is also an Associate Member of the Chartered Institute of Stockbrokers; an Associate Member of the Institute of Taxation of Nigeria; a Member of Information Systems Audit and Control, U.S.A; and a Certified Information Systems Auditor.

    She began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus in Corporate Finance activities. She was also involved in audit of Banks and Other Financial Institutions. She joined FCMB in year 2000 as Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank.

    She is now the Managing Director of FCMB.

    3. Nneka Onyeali-Ikpe – MD/CEO Fidelity Bank

    Nneka Onyeali-Ikpe has been an integral part of the transformation team at Fidelity Bank in the last six years. She was formerly Executive Director, Lagos and South West, overseeing the bank’s business in the six states that make up the South West region of the bank. She led the transformation of the Directorate to profitability and sustained its impressive year-on-year growth, across key performance metrics, including contributing over 28% of the Bank’s PBT, Deposits and Loans.

    She is a consummate professional of over 30 years’ experience across various banks including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank Limited, where she held several management positions in Legal, Treasury, Investment Banking, Retail/Commercial Banking, Corporate Banking. She has been involved in the structuring of transactions in various sectors including oil & gas, manufacturing, aviation, real estate and exports.

    As an Executive Director at Enterprise Bank Plc, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON) as a member of the management team that successfully turned around Enterprise Bank Plc.

    Onyeali-Ikpe holds Bachelor of Laws (LLB) and Master of Laws (LLM) degrees from the University of Nigeria, Nsukka and Kings College, London, respectively. She has attended executive training programs at Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD amongst others.

    She is also an Honorary Senior Member (HCIB) of The Chartered Institute of Bankers of Nigeria (CIBN).

    4. Halima Buba – MD/CEO SunTrust Bank

    Halima is a seasoned Banker with over 20 years cognate experience obtained from working in Allstates Trust Bank, Zenith Bank, Inland Bank Plc, Oceanic Bank Plc and Ecobank Nigeria Limited.

    She holds a Bachelor of Science (B.Sc.) degree in Business Management from the University of Maiduguri and an MBA from the same University.

    Halima is an Alumnus of the Lagos Business School Senior management programme. She is a senior Honorary Member of the Chartered Institute of Bankers and a Fellow of the Institute of Management Consultants.

    She sits on the Board of several reputable Institutions, including those of the Nigerian Sovereign Investment Authority (NSIA) as a Non-Executive Director and Anchoria Asset Management Company Limited.

    Halima is a Champion of youth and women empowerment, and consistently makes philanthropic contributions towards the girl child Education.

    5. Ireti Samuel-Ogbu – MD/CEO Citibank

    In August 2020, Citigroup announced Ireti Samuel-Ogbu as its first female Country Officer for Nigeria i.e MD/CEO Citibank Nigeria. Prior to assuming office in Nigeria, she served as managing director of payments and receivables, treasury and trade solutions for Europe, Middle East and Africa at the group’s office in London.

    She had been on the Board of Citibank Nigeria Limited since 2015 as a non-Executive Director.

    In the last 32 years, Samuel-Ogbu has held various roles across Citi’s businesses in the UK, Nigeria and South Africa, having worked in each of these countries twice. Previous roles have included Relationship Management with Global Subsidiaries Group and the Public Sector Banking Team, as well as TTS Sales, Corporate Finance and leading Citi’s TTS business in two of the largest markets in Africa.

    As a champion of diversity and inclusion, Samuel-Ogbu co-founded two impactful mentorship initiatives within Citi – the Sapphire Leadership Program for Middle East and Africa, and the Momentum Program in the UK. She is currently the EMEA co-Chair for Citi Women’s Affinity group and represents EMEA on the Global Affinity Steering Committee at Citi.

    She obtained a BA Hons Accounting and Finance from Middlesex University, UK and has an MBA from the University of Bradford, UK.

    6. Tomi Somefun – MD/CEO Unity Bank

    Prior to her appointment as MD/CEO in August 2015, Tomi Somefun served as the Executive Director overseeing the Lagos and South-West Business Directorates, the Financial Institution Division and Treasury Department of the Bank. She is a Member of the Board Finance & General Purpose Committee, Board Risk Management Committee, Board Credit Committee, amongst others.

    She a career professional with 35 years post qualification experience, over 26 of which were in the banking sector, spanning key segments including Treasury & Investment Banking, Corporate Banking, Retail, and Commercial Banking Operations. Tomi had a distinguished career with UBA group where she led 2 major subsidiaries of UBA as MD/CEO including a start-up company, UBA Pensions Custodian where she was the pioneer Managing Director.

    Prior to UBA, Tomi worked with two leading consulting firms: KPMG and Arthur Andersen (now KPMG). A Fellow of the Institute of Chartered Accountants of Nigeria and Chartered Institute of Bankers of Nigeria (CIBN), she graduated with a Second Class Upper degree from the Obafemi Awolowo University (formerly University of Ife) in 1981 with a Bachelor of Education in English Language. She was recently conferred an Honorary Degree of Doctor of Business Administration (D.BA) by the Redeemer’s University Nigeria (RUN).

    Tomi has extensive Executive Education in leading change and organization renewal, strategy formulation & execution, business analytics and development, and financial management from various esteemed business schools. She is an alumnus of the Columbia Business School, United States of America, and INSEAD, Fontainebleau, France, and holds a Certificate of Management Excellence from Harvard Business School (HBS). She is a member of various professional bodies including the Institute of Directors (IOD), Bank Directors Association of Nigeria (BDAN) and Chartered Institute of Bankers of Nigeria (CIBN). In addition, she has served on the board of several quoted and unquoted companies, and Non-Governmental Organizations (NGOs).

     

  • GTBank appoints Olusanya first female Managing Director

    GTBank appoints Olusanya first female Managing Director

    Guaranty Trust Bank (GTB) has appointed Mrs Miriam Olusanya as its first female Managing Director.

    She takes over from the former Managing Director, Segun Agbaje.

    A statement from the bank on Wednesday said aiming to strengthen its long-term competitiveness and growth prospects, Guaranty Trust Bank plc has completed its re-organisation to a Holding Company Structure.

    It said under the terms of the re-organisation, a new operating company has been established and amendments made to the articles of incorporation for a corporate name change.

    “The corporate name of Guaranty Trust Holding Company Plc and GTCO Plc will be used by the newly established operating company.

    “The newly established Guaranty Trust Holding Company Plc is also pleased to announce its new Board of Directors as well as changes to the Board of its banking subsidiary, Guaranty Trust Bank Limited. All the appointments have been approved by the Central Bank of Nigeria and disclosed to the Securities and Exchange Commission and the Nigerian Exchange Group.

    “Guaranty Trust Holding Company Plc (“GTCO Plc”) will be governed by a Board of Directors comprising, Mr. Sola Oyinlola as Chairman of the Board and Mr Segun Agbaje as the Group Chief Executive Officer, Mr Adebanji Adeniyi as Executive Director, Mrs Cathy Echeozo as Non-Executive Director, Mr. Suleiman Barau and Mrs. Helen Bouygues as Independent Non-Executive Directors,” the statement said.

    It added that “The Banking subsidiary, Guaranty Trust Bank Limited will be governed by a Board of Directors comprising, Mr Ibrahim Hassan as Chairman of the Board, Mrs Miriam Olusanya as Managing Director, Mr Jide Okuntola as Deputy Managing Director, Mr Haruna Musa as Executive Director, Mr Olabode Agusto as Independent Non-Executive Director, Ms Imoni Akpofure and Mrs Victoria Adefala as Independent Non-Executive Directors.”

    Commenting on the completion of the Corporate Reorganization, Mr Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, said: “We believe that a Holding Company Structure will allow us take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base.

    “We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships.

    “As a bank, we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”.

    He further stated that, “Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success.

    “As a Proudly African and Truly International band, we will continue to live by these values—of excellence, hard work and integrity, even as we create faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.”

    Prior to its corporate reorganization to Guaranty Trust Holding Company Plc, Guaranty Trust Bank Plc has been at the forefront of delivering innovative banking products and services to customers and best-in-class Return-on-Equity to shareholders.

    It is widely regarded as the best managed financial institution in Nigeria and has, over the past decade, embarked on a period of unparalleled growth, growing its customer base from less than 3 million customers in 2011 to over 24 million customers in 2020, and profit before tax from ₦45.5 billion at the end of the 2010 financial year to ₦238.1billion at the end of the 2020 financial year.

  • Businessman Andrew Warri arraigned for allegedly defrauding GTBank N125m

    Businessman Andrew Warri arraigned for allegedly defrauding GTBank N125m

    The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, on Friday arraigned Andrew Warri before Justice Sherifah Solebo of the Special Offences Court sitting in Ikeja, Lagos.

    He was arraigned on a seven-count charge bordering on stealing, obtaining by false pretence and issuance of dud cheques.

    Warri was arraigned alongside two companies: A.M. Projects Consultancy Limited and Ranez Medical Consultancy Limited.

    One of the counts reads: “Andrew Warri, A.M. Projects Consultancy Limited, sometime in May 2012 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, fraudulently obtained the sum of N125,000,000 from Guaranty Trust Bank Plc under the guise that the proceeds of the Rural Health Care and Referral contract with Niger Delta Development Commission (NDDC) will be domiciled in your account with Guaranty Trust Bank, the said pretense you knew, or ought to have known is false.”

    Another count reads: “Andrew Warri, Ranez Medical Consultancy Limited, on or about 28th October 2018 in Lagos, within the jurisdiction of this Honourable Court, issued a Zenith Bank cheque for the sum of N10,000,000 payable to A.M. Projects Consultancy Limited, in favour of Guaranty Trust Bank, which upon presentation for payment was dishonoured on the grounds that no sufficient funds were standing to your credit.”

    He pleaded “not guilty” to the charges.

    Thereafter, prosecuting counsel, Franklin Ofoma, prayed the Court for a date for commencement of trial, as the prosecution was ready to prove its case against the defendants.

    Nelson Imoh, counsel for Warri, informed the Court that the bail application for his client was before the Court.

    Ofoma, however, vehemently opposed the application for bail in his oral argument.

    He argued that the defendant was a flight risk, as he had resisted when operatives of the EFCC went to his office to effect his arrest.

    “His arrest was aborted and the EFCC had to watch list the defendant with the DSS, Immigrations, Customs and other local and international law enforcement agencies, just to ensure his attendance,” he said.

    According to Ofoma, the defendant was about to take off to the United States, but in the process, he was informed that he could not travel as he was on a watch list.

    Thereafter, Justice Solebo ordered that the defendant be remanded at the Correctional facility pending release on bail and adjourned the case till July 1, 2021.