Tag: Agbaje

N1 Trillion Profit: GTCO’s CEO, Segun Agbaje under the Searchlight as EFCC, FIRS to Allegedly Investigate Suspected False Half-Year Declaration

N1 Trillion Profit: GTCO’s CEO Segun Agbaje under the Searchlight as EFCC, FIRS to Allegedly Investigate Suspected False Half-Year Declaration

 

Guaranty Trust Holding Company Plc (GTCO) is under scrutiny following its recent declaration of a staggering N1 trillion half-year profit, prompting investigations by the Economic and Financial Crimes Commission (EFCC) and the Federal Internal Revenue Service (FIRS). The extraordinary profit figure has raised suspicions, with insiders suggesting it may be an attempt to outshine competitors, casting doubt on the bank’s financial integrity.

 

Chief Executive Officer Segun Agbaje is at the center of the controversy. Reports indicate he is reconsidering the profit declaration amid mounting pressure from board members who are unhappy with the lack of transparency. Many directors feel that this decision could tarnish the bank’s reputation, with one board member stating, “This isn’t just about money—it’s about maintaining the integrity of the institution.”

 

Tensions are rising within the board, with discussions of a possible vote of no confidence against Agbaje, reflecting growing dissatisfaction with his leadership amid a series of controversies. Employees, caught in a toxic work environment, fear repercussions if the profit claim is found to be false. Many express frustration over an autocratic culture where dissent is discouraged.

 

Analysts warn that if GTCO is found guilty of profit manipulation, the implications could be severe. Trust, crucial in banking, may erode, jeopardizing the institution’s market position and customer confidence. The scandal raises broader concerns about corporate governance and leadership ethics within the bank.

 

As investigations unfold, the future of GTCO hangs in the balance, with potential ramifications not only for the bank itself but for Nigeria’s banking sector as a whole.

Ooni, Agbaje, Olujimi, Other Yoruba Leaders Meet Over Sunday Igboho’s Arrest

Ooni, Agbaje, Olujimi, Other Yoruba Leaders Meet Over Sunday Igboho’s Arrest

The Ooni of Ife, Oba Adeyeye Ogunwusi on Tuesday met with some prominent Southwest leaders met behind closed doors over the arrest of Sunday Adeyemo alias Sunday Igboho.
It was gathered that those at the meeting include Senator Abiodun Olujimi (PDP-Ekiti South); Akin Osuntoun, a former political adviser to ex-President Obasanjo Obasanjo and a former Peoples Democratic Party (PDP) Governor candidate for Lagos State, Jimi Agbaje.

Confirming the meeting, Deputy Chairman, Oyo State Council of Obas, Oba Francis Alao said the meeting was originally convened to discuss national developments but had to delve into Igboho’s arrest,

“The essence of our meeting is a call by the Ooni of Ife, Oba Adeyeye Ogunwusi that we need to come back to our roots and do things the way we use to do it successfully,” he told TheNation.

“A lot of things have gone wrong in the last few years in this country, politically, economically, socially, and we want to put things in the right perspective, that is the essence of this meeting. “Coincidentally, Sunday Igboho was part of what was discussed. We did not ignore the issue but it was not the main issue we discussed.

“We need to be at the forefront of what is happening in this country? We are going to make wider consultations whereby individuals, groups, and others will be carried along to put things in the right direction.

“We cut across the Southwest states at the meeting. We are going to make wider consultations with monarchs. It is time for us to get it right.”

Naija News had earlier reported that Sunday Igboho was arrested in Cotonou, Benin Republic.

He was arrested at the Cotonou Cadjehoun Airport on Monday night while attempting to flee to Germany, a top source familiar with the matter revealed.

Igboho was arrested by the security forces in Benin Republic about three weeks after the Department of State Services declared him wanted for allegedly stockpiling arms, an allegation he has since denied.

Recall that Nigeria’s federal government had placed Igboho on the stop-list in order to facilitate his arrest and directed the security agencies to apprehend him when found.

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