• About Us
    • Àtẹ́lẹwọ́ Podcast
  • Contact
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Sitemap
Freelanews
Advertisement
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
Freelanews
No Result
View All Result
Home Business & Finance Business

‘Massive sell-off’ GTCO left in the dust as Segun Agbaje loses N98.04m in five days

Freelanews by Freelanews
March 29, 2022
in Business
0
MR SEGUN AGBAJE GTB CEO
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0

Segun Agbaje, the Chief Executive Officer of Guaranty Trust Holding Company (GTCO) and other shareholders of the firm lost -11.64% of their investment as investors took out their funds ahead of its annual general meeting.

GTCO is the parent company of Guaranty Trust Bank Limited.

Investors are selling off their Holdings in GTCO, taking out profits, as the board moved to approve its N2.70kobo per share final dividend paid to shareholders for the 2021 period, which will take its total dividend for the year to N3.

It was gathered that the April 8 Meeting will also have the shareholders voting on the uninsured shares, considering its existence creates a possibility of diluting shareholders’ stakes and depleting share value.

Investigative report by an online newspaper tracked Agbaje’s investment movement in GTCO, alongside other stakeholders, and noticed they are suffering from declining confidence in the capital market, amid fear that the bank stock will struggle to attract investors optimistic about its future growth.

With the bearish sentiment trailing Guaranty Trust, investors engaged in massive sell-off which resulted in GTCO’s stock losing value, with its share becoming cheaper, falling to N23.15kobo, against its asking price of N26.20kobo per share on March 18.

As the share of GTCO lost -11.64%, Agbaje lost N98.04 million within the five days of trading last week, out of his N842.24 million direct investment in the company as of March 18.

However, the loss of Agbaje was more significant compared to that of GTCO chairman, Hezekiah Oyinlola, who lost N1.07 million from the N9.24 million indirect shares he owned before last week’s trading.

While the total shareholder loss was N89.76 billion, with total investment held by stakeholders now worth N681.33 billion as of Friday last week, against the N771.09 billion owned on March 18.

This further extends the gap between GTCO and its market rival, Zenith Bank, on the most capitalised or valuable company and financial institutions in Nigeria, as the Jim Ovia-led bank is worth N844.56 billion.

Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
freelanews
Freelanews

Freelanews is a potpourri of news, entertainment, business, events and photos. This is no fake news.


Discover more from Freelanews

Subscribe to get the latest posts sent to your email.

Related Posts

274101175 10228185812008294 8840322873953131664 n
Business

‘Obey court orders’ COSON fights Access Bank, demands corporate responsibility

by Freelanews
June 22, 2022
Afreximbank Internship Program
Sustainability

Afreximbank launches paid internship program to cultivate future African leaders

by Quadri Olaitan
April 24, 2025
PalmPay Youth Training
Sustainability

PalmPay youth training launch empowers young Nigerians with digital safety

by Quadri Olaitan
August 20, 2025
UBA PS
Business

‘Impressive growth’ UBA assets now worth N8.3trillion

by Freelanews
September 17, 2021
Dangote refinery uses local crude
Business

Dangote crude oil deal tops N219bn despite supply suspension, pricing concerns

by Oreoluwa Ojelabi
June 26, 2025

Discussion about this post

ADVERTISEMENT

Recent News

Makinde

Makinde receives strong push for 2027 presidential bid

October 8, 2025
Rotary Club cataract surgery

Rotary Club cataract surgery transforms 30,000 lives

October 8, 2025
Ikechukwu N arrest

Ikechukwu N arrest shocks Argentina after INTERPOL raid

October 8, 2025
CBN monetary stability

CBN assures Nigerians of monetary stability progress

October 8, 2025

Search

  • Trending
  • Comments
  • Latest
Political persecution in Ogun State

Political persecution in Ogun State: Abiodun moves against Otunba Gbenga Daniel with demolition threats again

August 9, 2025
Abdul-Muiz Olanrewaju Animashaun

Abdul-Muiz Olanrewaju Animashaun remembered with love

September 14, 2025
Taylor Swift deepfake scandal

Taylor Swift faces deepfake scandal as Swifties call for stricter regulation

January 25, 2024
April Wind Couture

April Wind Couture thrives in Nigeria’s tough economy with bold Ankara vision

September 12, 2025
amoke

‘Meals by Amoke’ We serve traditional dishes in a modern way, Bukoye Fasola reveals

0
Image 2024 03 26 at 120645 AM jpeg

Charles Inojie, Ali Nuhu call on communities to #MakeWeHalla against domestic violence

0
Meran Primary Health Centre

Lagos father shares heartbreaking experience at Meran Primary Health Centre (Photos)

0
fls2

‘Disarticulated system’ Gov’t confused about Nigerian education, expert laments

0
Makinde

Makinde receives strong push for 2027 presidential bid

October 8, 2025
Rotary Club cataract surgery

Rotary Club cataract surgery transforms 30,000 lives

October 8, 2025
Ikechukwu N arrest

Ikechukwu N arrest shocks Argentina after INTERPOL raid

October 8, 2025
CBN monetary stability

CBN assures Nigerians of monetary stability progress

October 8, 2025
October 2025
MTWTFSS
 12345
6789101112
13141516171819
20212223242526
2728293031 
« Sep    
Freelanews

Freelanews is a Nigerian digital news platform that delivers timely, credible, and engaging stories across politics, business, entertainment, lifestyle, and the creative industry, with a strong focus on promoting innovation, integrity, and inclusivity in storytelling.

Follow Us

  • Facebook
  • TikTok
  • YouTube
  • Instagram

Editor’s Pick

  • OGD vs DA
    OGD vs DA: The real story never told
    • August 22, 2025
  • Toyota Sienna harassment
    Why is Lagos State govt harassing Toyota Sienna users?
    • August 19, 2025
  • Otunba Gbenga Daniel
    Who really is Otunba Gbenga Daniel?
    • August 18, 2025

Hot!

Makinde

Makinde receives strong push for 2027 presidential bid

October 8, 2025
Rotary Club cataract surgery

Rotary Club cataract surgery transforms 30,000 lives

October 8, 2025
No Result
View All Result
  • About Us
  • Contact
  • Advertisement
  • Sitemap

© 2025 Freelanews | by Iretura.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Total
0
Share
0
0
0
0
0
0
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events

© 2025 Freelanews | by Iretura.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Discover more from Freelanews

Subscribe now to keep reading and get access to the full archive.

Continue reading