I asked a similar question. Just like Office365, or similar services the admin account should not be taking up a license. That doesn't make sense for small business where the IT person is a office worker.
An admin is a user with topmost authority and access level to the data on your Egnyte account. At the moment there is no way to hide any folder or restrict an admin's access to a folder on Egnyte. The only way this can be achieved is by keeping only one administrator. This way the permissions to the required folder can be concentrated only to the admin.
Your point is very well understood. I recommend submitting this as a feature request in the Ideas board. This will put the idea directly in front of our Products team and can also attract votes onyour suggestion from other members of the community. They can show their support for this feature there.
PS. Help others find answers by selecting "Accept as Solution" if a post answers your question."