The developments were disclosed on June 5 in a statement by Erhi Obebeduo, company secretary of GTCO. The appointments are part of a broader board refresh aimed at enhancing corporate governance and strategic oversight.
Leadership Transition at the Top
Hezekiah Oyinlola, who has served as chairman since GTCO’s formation, is stepping down from the role. The company praised his contributions, noting that his tenure was marked by strong leadership that helped define GTCO’s governance framework and long-term growth strategy.
Succeeding Oyinlola is Suleiman Barau, a seasoned financial expert and former deputy governor of the Central Bank of Nigeria (CBN). His appointment is subject to regulatory approval.
Barau has held several high-profile roles in Nigeria’s financial sector, including serving as special adviser to the CBN governor. He played a key role in banking, monetary policy, and payment reforms. His regulatory experience is expected to bring deep insight to the board’s strategic direction.
“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.”
Board Refresh and New Appointment
Also stepping down is Helen Bouygues, an American business executive who served as an independent non-executive director. GTCO acknowledged her “dedication, independence, and strategic insights,” which helped strengthen the company’s board deliberations and governance culture.
Bouygues will be replaced by Babatunde Soyoye, co-founder and managing partner of Helios Investment Partners LLP, a London-based private investment firm focused on Sub-Saharan Africa. His appointment has been approved by the CBN.
Soyoye brings over 33 years of experience, with expertise in growth capital, corporate restructurings, and financial advisory services. GTCO noted that his track record in driving strategic investments across sectors would add significant value to the board.
“We are pleased to welcome Mr Babatunde Soyoye to the board,” Agbaje said. “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.”
Commitment to Governance and Board Effectiveness
GTCO said the appointments reflect its commitment to board diversity, effectiveness, and strong corporate governance. The board refresh comes at a time when the company is deepening its strategic focus across its subsidiaries in banking, asset management, and fintech services across Africa.
The company reaffirmed its intention to maintain high governance standards in line with global best practices as it enters a new phase of leadership and growth.