Guaranty Trust Bank (GTBank) is facing serious allegations regarding nepotism and ethical breaches under the leadership of Chairman Segun Agbaje, following revelations from whistleblowers within the organization. Sources claim Agbaje has been using his sister, Kofo Dosekun, as a conduit for securing lucrative contracts, raising significant concerns about conflicts of interest and adherence to corporate policies.
Insiders allege that Dosekun, who chairs the Aluko & Oyebode Management Board, has benefited from the bank’s business opportunities without proper due diligence or oversight. Despite her qualifications, the familial connection to Agbaje has sparked fears of favoritism and unethical practices.
GTBank’s internal policies explicitly prohibit nepotism and any business dealings that favor family members of executives. However, whistleblower accounts suggest that Agbaje has consistently awarded contracts to Dosekun, bypassing standard competitive bidding processes. “It is brazen nepotism at its finest,” remarked a senior management source who requested anonymity. “Checks and balances are ignored when family is involved.”
The growing concern among senior staff is compounded by a culture of fear within the organization. Employees reportedly refrain from raising issues regarding Agbaje’s behavior due to potential retaliation. Insiders indicate that dissent is met with intimidation, leading to a toxic work environment where morale is suffering.
The implications of these allegations are troubling for GTBank. Trust, both internally among employees and externally with clients and shareholders, is critical for any financial institution. If these nepotism claims hold true, they could severely damage GTBank’s reputation, prompting disillusionment among staff and eroding public confidence.
Moreover, the allegations threaten to expose the bank to legal liabilities and regulatory scrutiny, particularly if contracts are awarded without appropriate due diligence. Such practices may deter top talent from joining or remaining with GTBank, as skilled professionals seek more transparent environments.
As these serious accusations unfold, questions about GTBank’s corporate governance practices arise. Without accountability, the integrity of the bank—and its future—remains precarious. Moving forward, external investigations may be necessary to restore trust and integrity within the institution, as it faces significant challenges to its standing in the banking sector.