Segun Agbaje’s stake in Nigeria’s most valuable lender, GTCO, is worth $2 million

Segun Agbaje, a prominent Nigerian banker and business executive, has seen his stake in Guaranty Trust Holding Company (GTCO) surge to an impressive N1.6 billion ($2.03 million) as the leading financial services group achieves a record market capitalization of over N1.13 trillion ($1.45 billion) on the Nigerian Stock Exchange.

GTCO, a Lagos-based financial holding company with diversified operations in retail and investment banking, pension and asset management, and payment services, has been making significant strides under Segun Agbaje’s leadership.

Agbaje, the group CEO of GTCO, holds a minority 0.14-percent stake in the company, amounting to a total of 41,628,001 shares. This significant ownership firmly places him among the wealthiest investors on the Nigerian Exchange.

As of the time of reporting, GTCO’s share price was trading at N38.60 ($0.0487), propelling the company’s market capitalization to N1.13 trillion ($1.45 billion).

This substantial valuation solidifies GTCO’s position as Nigeria’s most valuable lender on the local exchange, surpassing Zenith Bank Plc, led by prominent businessman Jim Ovia, and making it the country’s most valuable lender.

Agbaje’s stake in GTCO, valued at N1.6 billion ($2.03 million) at the current price level, further elevates his status as one of the most affluent executives in Nigeria.

In addition to his executive role at GTCO, Agbaje serves on the boards of PepsiCo and is a member of the Mastercard Advisory Board for the Middle East and Africa.

His strategic vision has played a pivotal role in the financial services group’s expansion and the recent transformation into a holding company following a structural reform last July.

Under Agbaje’s leadership during the 2022 fiscal year, Guaranty Trust Holding Company achieved a remarkable profit of N169.17 billion ($367.4 million), demonstrating resilience amidst tough financial market conditions.

This exceptional performance underscores the success of the group’s diversified operations, including retail and investment banking, pension and asset management, and payment services.

With GTCO’s record market capitalization and Agbaje’s growing stake in the company, the future looks promising for both the financial services group and the accomplished Nigerian banker.