Banking Scandal: GTBank’s CEO Faces Fraud, Identity Theft Claims
By Comfort Olayinka
The Global Integrity Crusade Network (GICN) has unveiled shocking allegations of identity theft and fraud against Segun Julius Agbaje, Group Chief Executive Officer of Guaranty Trust Bank Limited (GTBank) and its parent company, Guaranty Trust Holding Company Plc (GTCO Plc).
At a press conference in Abuja, GICN’s Director of Publicity and Mobilization, Ambassador Adebayo Lion Ogorry, accused Agbaje of potentially using his late father’s academic and residency credentials to deceive UK regulatory agencies.
GICN’s investigation revealed discrepancies in Agbaje’s identity. He is reportedly connected to Guaranty Trust Bank (UK) Limited as Chair of the Governing Board since March 7, 2016, with a claimed birthdate of 1915. However, other documents link him to Chief Julius Kosebinu Agbaje and Segun Agbaje, both sharing the same birthdate of July 4, 1964.
The organization suspects Agbaje exploited his father’s credentials to perfect GTBank’s papers with UK regulatory agencies. Notably, Agbaje lacks personal records online, sparking concerns of a cover-up. GICN emphasized the urgent need for the Central Bank of Nigeria, National Assembly, Nigeria Police Force and UK National Crimes Agency to investigate.
GICN stressed that financial institutions like GTBank must adhere to ethical standards. Allowing Agbaje to occupy the CEO’s position despite questionable identity undermines GTCO Plc’s integrity. Customers and investors, who trusted GTBank’s owners, now face uncertainty.
The group warned of impending calamity if regulatory agencies fail to act. GICN urged civil society organizations, anti-corruption advocates and stakeholders to join forces against corruption within GTBank and Nigeria’s banking sector.
GICN presented a Private Investigation Report on October 3, 2024, highlighting GTBank’s alleged unscrupulous activities. The organization seeks justice, emphasizing President Bola Ahmed Tinubu’s anti-corruption efforts must hold individuals accountable, regardless of status, tribe, religion or political affiliation.
He said: “On Thursday, 3rd October 2024, we presented a Private Investigation Report on the alleged unscrupulous, unethical and criminal activities of Guaranty Trust Bank Limited, a subsidiary of Guaranty Trust Holding Company Plc (also known as GTCO Plc) where Segun Julius Agbaje serves as Group Chief Executive Officer since August, 2021.
“Today, we are here to expose alleged cases of Identity Theft and Fraud hanging on the neck of the same Segun Julius Agbaje which if not resolved have the tendency to completely destroy the already shaky Guaranty Trust Bank Limited.
“From our latest investigation, one Julius K. Olusegun Agbaje is connected to Guaranty Trust Bank (UK) Limited, having been appointed Chair of the Governing Board since 7th March, 2016.
“This individual purportedly born in 1915, was approved by the UK Financial Conduct Authority (FCA) to perform specific roles at the Bank with Head Office contact details as 10, Great Castle Street, London, W1W 8LP, United Kingdom.
“It may interest you to know that other documents linked to the Group Chief Executive Officer of GTCO Plc reveal that he bears Chief Julius Kosebinu Agbaje with date of birth as 4th July, 1964. He also bears Segun Agbaje in other instances with same date of birth as 4th July, 1964.
“The question we are asking is WHO IS SEGUN JULIUS AGBAJE? While we seek answer to this question, we suspect that the man Segun Julius Agbaje could have fraudulently used the academic or residency credentials of his late father who started GTB to perfect its papers with Regulatory Agencies in the United Kingdom.
“This suspicion is further deepened by the fact that Segun Julius Agbaje, as prominent as he is in the banking sector, has little or no personal records on the internet. This is a huge cover up, which must not be ignored.”
He added: “We believe that if the war against corruption being led by President Bola Ahmed Tinubu must succeed, then there should be no room for sacred cows. Persons who are exposed to have been involved in any form of criminality must be brought to justice irrespective of their status, tribe, religion and political affiliation.
“Public institutions or private organizations under the supervision of government are supposed to be the paragon of trust in all ramifications. They must strive at all times to comply with the rules and ethics guiding their operations. This is particularly true of financial institutions such as a Bank.
“We call on the Central Bank of Nigeria (CBN), National Assembly, Nigeria Police Force as well as UK National Crimes Agency (NCA) to wade into these cases of Identity Theft and Fraud hanging on the neck of Segun Julius Agbaje. We note that the operations of Guaranty Trust Bank Limited in Nigeria have become so epileptic since the past two weeks.
“This should prompt Regulatory and Law Enforcement Agencies within or outside Nigeria to look into the recommendations contained in our Private Investigation Report earlier submitted.
“The overwhelming customers/investors patronizing GTB in Nigeria, Africa and United Kingdom have always counted on the supposed integrity of its owners. Therefore, for GTCO Plc being the main owner of GTB to allow Segun Julius Agbaje with such a doubtful and confusing identity to occupy the prestigious position of Group CEO portrays it as nothing but an ethically bankrupt entity.
“There is no gainsaying the fact that customers/ investors will not allow their funds to be trapped in the midst of uncertainties. As the situation stands, the funds belonging to customers/investors of GTB are not safe unless there is a total overhaul of the Bank’s Management Team.
“Suffice it to state that calamity looms at GTB if the relevant agencies do not take immediate actions. As the saying goes in legal parlance, you cannot put something on nothing and expect it to stand.
“The continuous occupation of the position of Group CEO of GTCO Plc by Segun Julius Agbaje was fraught with illegality from the beginning and must not be allowed to stand.
“We urge sister Civil Society Organizations, Anti-Corruption Crusaders, Lovers of Justice and relevant stakeholders in the nation’s Banking Sector to join us in stamping out corruption from GTB in particular and Nigeria at large.”
