Nairametrics had a brief interview with the Managing Director of Guaranty Trust Bank, Segun Agbaje, on the sidelines of the 2019 Social Media Week Lagos event. The bank had a session captioned, “Building the Bank of the Future”.

Agbaje discussed a variety of issues, ranging from his outlook of the banking industry in 2019, to the possibility of taking the bank’s food and drinks festival around the country, and his views on possible competition from the telcos, following the release of payment service bank guidelines.

Banking outlook in 2019

The outlook for the banking industry in Nigeria, in his view is a very bright one.

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“I am always very optimistic about Nigeria. I am not one of those who are worried about elections.

“I think the outlook for the Nigerian banking industry is always going to be up, until we reach a mature stage. We are only banking 33/34 million people, in a country that has about 190 million people. So, it is by no means mature; so there is still a lot of upside.”

The possibility of moving food and fashion festivals around the country  

In response to another question from Nairametrics about the possibility of moving the bank’s food and fashion festivals around the country, Agbaje stated that the bank would consider it, but it would be dependent on logistics.

“Moving food and drink around the country is really about the logistics. We will start to look at it.

“It takes us about 5 months to plan each event. If we are not physically there, it may be difficult to have all the things we need. We will look at it. That, I promise.”

The bank’s food and fashion festivals have been held in Lagos since inception.


“SANEF is growing. We have about 90,000 agents. It’s a process that will definitely drive financial inclusion, because it is aimed at the bottom of the pyramid.”

On competition from telcos

In his view, competition from the telcos is a welcome development

“We welcome competition. The only thing we ask is that, there be a level playing ground between the banks and the telcos.”


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