Corporate Incompetence: GTBank’s Mariam Olusanya’s 6 Months of Redundancy and Segun Agbaje’s Overbearing Role

It has been more than 6 months since the appointment of Mariam Olusanya as the substantive Managing Director of the Guaranty Trust Bank Limited (GTBank), and she has not been active in the visibility aspect of her job.

This has been raising so many questions, while some are of the belief it because she’s not competent some are of the opinion that she’s being rendered redundant by former MD who is now the CEO of Guaranty Trust Company Holdings (GTCo) Mr Segun Agbaje, who is still holding sway due to his position as benchmark holder of the financial institution.

Mariam Olusanya who emerged the bank MD against all odds due to the influence of Segun Agbaje, the bank’s immediate past MD, who is currently at the helms of affairs of the bank’s newly formed parent company the Guaranty Trust Company Holdings (GTCo) a company which formation is still under litigation to decide its legality, has been rather quite unlike other Managing Directors who took over almost the same time as her.

A search through the popular search engine Google shows clearly that the new MD seems bereft of ideas as she has no official activities since she took over seven months ago. Many in her gender category are known to have kick the ground running immediately they assume office in their respective organizations but in her case she has only remain stagnant like a mirror only reliving the past activities of her boss, Segun Agbaje who seems to still be calling the shots as CEO of GTCo.

This seems to be laying credence to the fear initially nursed by industry players who were of the belief that she’s a puppet strategically position by Segun Agbaje to continue to hold unto power to the detriment of shareholders and the founding partners of the bank.

If you could recollect Agbaje had make sure all experienced staffs of the bank had been forced to resign in his bid to make a now ineffective Mariam the bank MD thereby leaving the bank with a team of management staffs that are not that experienced, a situation that may be relatively responsible for the absenteeism disposition of the figurehead MD from the public and business scene.