SMW: Agbaje Asks Entrepreneurs To Be More Value-Driven

SMW: Agbaje Asks Entrepreneurs To Be More Value-Driven
GTB CEO Mr Segun Agbaje speaks to reporters after delivering a speech at the 2018SMW in Lagos


The Chief Executive Officer of Guarantee Trust Bank, Mr Segun Agbaje, has called on brands and business owners to focus more on delivering value to their customers rather than profit making.

According to him, this will not only get them ahead of competitors but will also enable them to remain relevant in the business world.

Mr Agbaje said this on Tuesday while addressing journalists at the 2018 edition of the Social Media Week in Lagos.

The 2018 SMW, themed: ‘Closer’, brings together top influencers, as well as brands and individuals from various industries, who either shared from their wealth of experience or came for the sole purpose of networking.

Delivering a paper on the topic ‘Making Sense of a World in Motion’, the GTB Chief said: “My interpretation of the word ‘closer’ is about customer centricity.”


“In the world we live in today, the world we lived in 10 years ago, and the world we will live in 10 years’ time, you have to get closer to your customers, you have to do a lot of customer mapping, you have to understand customers, and you have to become one.

“You can’t feed people with what you think they want, you have to give them what is important. Honestly, for me, I think those values will remain values and in whatever business modules you do, it’s got to be value-centred and value-driven because values are not going to change,” he added.


The Key Is Slow Motion

Responding to questions of whether or not GBT has plans to do more for the education and ICT sectors, Agbaje stressed the need to take one sector at a time.

He, however, noted that despite existing platforms like the GTB Fashion Week and the SME Business Hub, the bank plans to do more but the key is sometimes “slow motion”.

“In this fast moving world where everything seems to be going at speeds that nobody understands, you can develop the ability to see it in slow motion,” the GTB boss said.

“If you get to the point where you can see this world in slow motion, even though it’s moving very quickly, you would have built a competitive advantage that will allow you to beat your competitors,” he added.

Ozekhome Asks Court To Unfreeze His Account

Mike OzekhomeA senior lawyer, Mr Mike Ozekhome (SAN), has asked the Federal High Court in Lagos to vacate the order freezing his account with the Guarantee Trust Bank (GTB).

Mr Ozekhome’s application to set aside the freezing order would be heard on February 23.

Justice Abdulazeez Anka had on February 7, 2017 ordered a temporary forfeiture of 75 million naira found in the account.

The order followed an application by the Economic and Financial Crimes Commission (EFCC), which prayed the court to freeze the senior lawyer’s account temporarily on grounds that the said sum was suspected to be proceeds of crime.

In his application on Thursday, the Senior Advocate of Nigeria requested for an order discharging and/or vacating forthwith, the interim order made ex-parte, which directed an interim order of forfeiture to freeze or attach the money for 120 days.

He also sought for an order restraining the Federal Government and the EFCC from dealing in anyway and manner, as to the operation or the proprietary rights of the ownership of the account.

Mr Ozekhome claimed that the application for an order for interim forfeiture of his account was done in bad faith by the anti-graft agency, stating that it did not comply with the statutory and judicial authorities in obtaining an interim order.

He said the EFCC allegedly suppressed material facts in obtaining the order, maintaining that the action was unconstitutional.

He added that the same offended sections 36, 37 and 41 of the 1999 Constitution, saying there was no legal justification for the EFCC’s action.

He explained that the 75 million naira was a part-payment of legal fees from Governor Ayodele Fayose of Ekiti State.

On the issue of whether or not the funds in Governor Fayose’s account from which the said sum is posted to Mike Ozekhome’s Chambers’ GTB account is suspected proceed of crime, the SAN noted that it is currently on appeal as filed and entered by the selfsame counsel to the EFFC, Mr Rotimi Oyedepo.

He asked that the matter be heard urgently, as the continued freezing of Mike Ozekhome’s Chambers’ account has rendered the chambers impecunious and unable to carry out its day-to-day activities.

Wrong Impression

The lawyer also said that the temporary freezing of his account has caused him untold embarrassment, public odium, obloquy and mental agony.

He alleged that the EFCC gave a very wide publicity to the said freezing or attachment in print, electronic and social media, thus giving the wrong impression that he has committed a criminal offence against the laws of the land.

On the material facts that EFCC purportedly suppressed, Ozekhome said the anti-graft agency did not disclose to Justice Anka, the fact that Justice Taiwo Taiwo of the Federal High Court in Ado Ekiti had unfrozen Mr Fayose’s accounts forthwith, thereby allowing the governor to operate them before he transferred 75 million naira to Mike Ozekhome’s Chambers’ account.

He stated that as at the time Governor Fayose transferred 75 million naira to his chambers’ account, there was no court processes filed or served on the applicant, indicating that the EFCC was on appeal or asking the court to stay the execution of the order defreezing the governor’s account.

“Fayose, had himself withdrawn the sum of 5,000,000 naira in cash before transferring the sum of 75,000,000 naira to the account of Mike Ozekhome’s Chambers,” the lawyer said.

GTB Seeks Redemption Of $500 Million Eurobond

GTBGuaranty Trust Bank (GTB) has launched a tender offer to repay a $500 million Eurobond early, a move to deploy its available Dollar liquidity ahead of the debt’s maturity.

The bank said the notes, priced to yield 7.5 per cent, were due to mature in May 2016 and the tender was voluntary.

It said in a tender notice that the bank would maintain cash to repay any outstanding debt not tendered.

The results of the tender offer will be announced on February 11.