Who Owns GTBank Nigeria?

Guaranty Trust Bank PLC popularly known as GTBank or simply GTB is a Nigerian multinational financial corporation which provides retail banking, online/internet banking, corporate banking, investment banking and asset management services to its customers. In 2019, GTBank was declared the best bank in Nigeria for the ninth time.

Who owns GTBank Nigeria?

Established in 1988, GTBank was formed by over 35 young Nigerians in their thirties, led by Fola Adeola and Tayo Aderinokun. Fola Adeola is a Nigerian entrepreneur, accountant and politician. Also a member of the commission of Africa, Fola Adeola is the founder and chairman of the FATE Foundation. He was also the running mate of former Economic and Financial Crimes Commission chairman (EFCC) Nuhu Ribadu in the 2011 presidential elections.

Early life and background of Fola Adeola

Tajudeen Afolabi Adeola was born on the 1st of January, 1954 in Lagos state, Nigeria. Upon completion of his elementary education, he attended Methodist Boys High School, Lagos. Having completed his secondary education, he proceeded to obtain a diploma in Accounting in 1975 and became a chartered Accountant in 1980 after his training with Deloitte, Haskin and Sells and D.O. Dafinone & Company.

Fola Adeola

For someone who believe so much in personal development, Fola received professional trainings from reputable institutes like INSEAD, Harvard Business School and the International Institute for Management Development in Switzerland. Furthermore, Fola finished a one-year sabbatical at the National Institute for Policy and Strategic Studies in Kuru, Jos, Nigeria, where he conducted a research on economic development and job creation policies.

His Entrepreneurial Exploits and Career

In 1990, Fola established Guaranty Trust Bank alongside Tayo Aderinokun. He was the managing director/CEO of the bank from the launch in 1990 to 2002. Presently, GTB has numerous branches spread across other countries including Sierra Leone, Gambia, Ghana, Liberia and the United Kingdom.

In 1996, the bank was listed amongst other banks in the Nigerian Stock Exchange. Fola willingly retired from office, handing over the reins of power to his deputy, Tayo Aderinokun in 2002. In the course of his career, he served as the chairman of ARM, UTC, Lotus Capital, Tafsan Breweries and Credit Registry Services. The business tycoon was appointed chairman of Main One Cable Company Limited in 2018.

Following the Lagos armoury explosion on the 27th of January, 2002, Fola was elected chairman of the Lagos State Disaster Relief Committee to ameliorate the situation. He also served as Chairman of the National Pension Commission. The private investor served as a member of the governing council of the Lagos State University in November 2004.

He was hand-picked as a member of of the National Honours and Awards Committee. The former managing director was among the Solid Minerals Committee and chaired Ogun State Development Trust Fund Committee. He also served as a council member of the Olabisi Onabanjo University.

His Humanitarian Works

Besides being a businessman and investor, Fola is also a philanthropist. He launched the FATE Foundation in 2000. The non-governmental organisation focuses on encouraging entrepreneurship, loan support, mentoring and supporting to help young Nigerians. Over 30,000 entrepreneurs have benefited from this scheme.

FATE, in alliance with the Centre for Design Research at Stanford University established an innovation centre, the Institute for Venture Design in Abeokuta. Fola was a member of the Global Advisory Committee on Philanthropy of the World Economic Forum for four years.

Subsequently, he was hosted alongside twenty-four other business leaders at the Aspen Institute ISIB Annual Business Leaders Dialogue in Aspen, Colorado in 2001. In May 2004, he was selected as the Commissioner on the Commission for Africa by Tony Blair, former British prime minister.

Fola Adeola’s Relationship and Family Life

Fola is happily married to Hajara and they are blessed with six children.

Awards and Recognition

Officer of the Order of the Federal Republic (OFR) (2002)

Distinguished Famous Alumni, Yaba Tech Zik Leadership ( 2003)

Banker of the Decade, Vanguard Newspaper Group (2009)

Honorary doctorate, Nkumba University, Ntebbe, Uganda

Change Makers in Social Entrepreneurship, This Day

Fola Adeola’s Net Worth

Fola Adeola is ranked amongst the richest bankers in Nigeria. He’s worth billions of Naira.

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