Table of Contents
Nigerian banker and business executive Segun Agbaje has watched the value of his stake in Guaranty Trust Holding Company (GTCO) rise to N3.83 billion ($2.5 million), underscoring his place among the country’s wealthiest bankers.
Agbaje leads GTCO as Group CEO, guiding the lender that now ranks as the sixth most valuable company on the Nigerian Exchange and the nation’s top financial institution by market value.
Agbaje’s GTCO stake climbs to $2.5 million
The jump in Agbaje’s stake reflects a strong run in GTCO’s stock, supported by investor confidence and the group’s recent recapitalization efforts.
According to data tracked by Billionaires.Africa, the share price has gained more than 61 percent this year, moving from N57 ($0.037) in January to N92 ($0.06) at the time of reporting. This surge pushed GTCO’s market capitalization to N3.35 trillion ($2.18 billion), cementing its position as the most valuable bank in Nigeria.
The rise has also delivered sizable gains to its shareholders, with Agbaje—who owns 41.6 million shares, representing a 0.14-percent stake—recording a personal gain of N1.46 billion ($2.5 million) since the start of the year.
GTCO bolsters capital, tops local lenders
GTCO, based in Lagos with operations spanning retail and investment banking, pensions, asset management, and payments, has been shoring up its capital in line with new regulatory rules. In July, the company secured a secondary listing on the London Stock Exchange, the first West African lender to be admitted to its main market.
More recently, it injected $238.5 million into its flagship banking arm, GTBank, bringing paid-up capital to $328.5 million and reinforcing compliance with the Central Bank of Nigeria’s latest requirements. The move further widened its lead over rivals, including Zenith Bank Plc, chaired by businessman Jim Ovia.
Leadership and performance
Agbaje’s influence stretches beyond GTCO. He sits on the boards of PepsiCo and the Mastercard Advisory Board for the Middle East and Africa. His push to transform GTBank into a holding company two years ago has helped broaden the group’s footprint across financial services.
The bank has also kept clean books with the Central Bank of Nigeria, avoiding the regulatory waivers that some peers rely on. This has spared it from restrictions on dividend payouts, bonuses, and foreign investments faced by non-compliant lenders.
