New Telegraph

GTBank engages regulators on board changes

Guaranty Trust Bank (GTB) is engaging its primary regulators on board changes in the organisation. The bank, in a notice to the Nigerian Exchange Limited (NXG), notified the regulator of imminent changes on its board. The statement by Erhi Obebeduo, the Company Secretary, said: “The attention of Guaranty Trust Bank Plc (the Bank) has been drawn to news circulating in the media about imminent changes on the board and management of the bank “As an organisation listed on the Nigerian Exchange Limited and regulated by the Central Bank of Nigeria, there are processes that guide such board changes and channels of communication of such changes as required by regulation.

“The board of the bank has approved certain changes in its constitution and is presently engaging its primary regulator on same and would formally communicate upon the conclusion of all required regulatory engagements.” New Telegraph had reported on Tuesday that the bank had disengaged three Executive Directors and six General Managers in an exercise aimed at paving the way for the emergence of Miriam Olusanya as the next Managing Director/Chief Executive of the bank under a Holding Company (Holdco) structure. Already, these changes, which are expected to take effect by end of this month – May 31, 2021, precisely – had triggered the resignation of Bolaji Lawal (ED in charge of Digital Banking) and Segun Fadahunsi, (GM, Systems and Control).

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