Guaranty Trust Holding Company Plc (GTCO) has announced major changes to its board, including the appointment of Babatunde Soyoye as an independent non-executive director and Suleiman Barau as chairman.
The moves follow the retirement of two long-serving board members.
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The announcement was made public on 5 June in a disclosure by Erhi Obebeduo, the company secretary.
Hezekiah Oyinlola, who has been chairman of the GTCO board since its formation, is stepping down. The company said his leadership helped shape its governance structure and long-term strategy.
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Suleiman Barau, a former deputy governor of the Central Bank of Nigeria (CBN), will replace him as chairman, subject to regulatory approval. He previously served as a special adviser to the CBN governor and was involved in key financial reforms, particularly in banking, payments, and monetary policy.
“We are honoured to have Mr Suleiman Barau assume the role of chairman,” said Segun Agbaje, group chief executive officer of GTCO. “His deep regulatory experience and proven leadership within the financial sector will be instrumental in guiding the board’s oversight as we execute our strategic intent.”
Also retiring from the board is Helen Bouygues, an American businesswoman who served as an independent non-executive director. GTCO described her tenure as valuable and praised her “dedication, independence, and strategic insights.”
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She will be replaced by Mr Soyoye, co-founder and managing partner of Helios Investment Partners LLP, a London-based private investment firm that specialises in growth capital, restructurings, and structured investments in Sub-Saharan Africa. He brings over 33 years of experience, 30 of which are in investment and financial advisory services. The CBN has approved his appointment.
“We are pleased to welcome Mr Babatunde Soyoye to the board,” said Mr Agbaje. “His extensive experience in strategic investment, combined with a strong track record of driving growth across sectors, makes him a valuable addition. We are confident that his insights and guidance will significantly enrich the board’s deliberations and contribute meaningfully to the company’s long-term success.”
GTCO said the changes align with its commitment to strong corporate governance, diversity, and board effectiveness.
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