THEY DARED, THEY DID: THE STORY OF YOUNGSTERS THAT FOUNDED GTB

By Femi Pedro

Excerpted from his 2015 article, The Curious Case of Young Generations

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Sometime in 1988, I received a call from a good friend, Mr Akin Akintoye, about an interesting investment opportunity with a few colleagues. After a series of meetings, it became very clear to me that we were about to embark on an audacious but incredibly special journey, and I was excited about the prospect of being a part of such a project. For almost 2 years, I worked alongside the likes of Akin Akintoye, Fola Adeola, Tayo Aderinokun (of blessed memory), Gbolly Osibodu, Bode Agusto and a few others on this investment project. As of 1988 when we began the journey, Fola was 34, Tayo was 33, Gbolly was 33, Bode was 33, Akin was 35 and I was 33. The objective: To own a BANK.

It was a bold objective considering our respective ages at the time, but certainly not an impossible task in our eyes. So we began to hold countless meetings at Fola’s residence in 1988, until we eventually shifted base to Tayo’s First Marina Trust office in Victoria Island. By late 1989, we were ready to put in our bank application at CBN, along with the required minimum capital.

This effort was spearheaded by Fola and Tayo (the two brains behind the entire operation), and supported by about 40 persons (including myself), most of whom were in their early 30s and working for different organizations at the time. The end product? We formed arguably one of the finest financial institutions Nigeria has ever seen- Guaranty Trust Bank (known as GT Bank today). The bank was licensed on the 1st of August, 1990 and we commenced banking operations later that year. A group of young boys in their early/mid 30s OWNED a bank! We simply dreamt big, and turned this dream into reality.

See also: FROM BARBERS TO BANKERS: THE STORY OF FOLA ADEOLA & TAYO ADERINOKUN

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