GT Bank and Transition

It is no surprise that Nigerian Inflation is galloping. It would have been

surprising, if the Economy were to behave like things are stable.

Insecurity cannot give rise to productive activities and where printing of money takes the centre stage instead of buying and selling, then more money would be chasing few available goods leading to Inflation.

Banks have a vital role to play in the Economy for money creation and safe keeping of money not forgetting lubricating the Economy through facilitating transfers.

Their role in foreign trade is also paramount.

Today, the news coming from the all important banking sector is a mirror of the chaos all over the country.

First, it was the macabre dance from First Bank and the intervention from the Apex regulator, the Central Bank of Nigeria.

Next is the muffled sound from one of the better banks in Nigeria: GT Bank.

The orange bank seems to be caught up in its carelessness. Founded by Fola Adeola and Tayo Aderinokun, GT Bank over the years proved a good service provider and Investors delight.

Fola Adeola was founding Chief Executive officer with Tayo Aderinokun as deputy.

Tayo succeeded Fola but died and was succeeded by Segun Agbaje.

Was it Tayo's death that prevented a succession plan beyond Segun?

Who takes over from Segun is generating unnecessary anxiety as a good succession plan would have taken care of the present tension.

Going forward, GT Bank should not fail to put in place a good succession plan. That is what good companies do and I expect that from an organization of GT Bank's calibre.