Guaranty Trust Bank

Guaranty Trust Bank, on Monday, issued a press release to the Nigerian Stock Exchange (NSE) informing it of the retirement of two of its Executive Directors, Wale Oyedeji and Olutola Omotola.

Wale Oyedeji joined GTBank in 1994 and was appointed  Executive Director on October 9, 2011. Olutola Omotola joined the bank in 2006, and was also appointed Executive Director on the same date.

Olutola Omotola was the Head of Corporate Services at the bank, while Wale Oyedeji was the Head of Corporate Banking.

The bank also disclosed that their retirement would take effect on August 11, 2018.

The notice appears to be a fire brigade response to a Nairametrics report concerning the resignation of the two affected directors.  The report also made mention of the affected directors being at the short end of a boardroom tussle.

While not compulsory, GTBank gave no reasons behind the planned resignation of the Executive Directors.

The bank also made no mention of when their replacements would be appointed, nor deny a possible appointment of the current Head of Wholesale Banking Division and General Manager at the bank, Miriam Olusanya, as an Executive Director.

GTBank closed at N41.90 in yesterday’s trading session, down 0.24%. Year-to-date, the stock is up 2.82%.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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