Personality in Focus
Wema Bank Gets New MD/CEO As Adebise Retires
Wema Bank Plc has appointed Mr. Moruf Oseni as the new Managing Director/Chief Executive Officer of the bank as Mr. Ademola Adebise proceeds on a terminal leave effect from January 2, 2023, after 13 years of meritorious service on the Board of the Bank, pending his final disengagement from the bank in March 2023.
A statement signed by the Bank’s Company Secretary/Legal Adviser, Johnson Lebile, disclosed that Ademola Adebise was appointed as the Managing Director/Chief Executive Officer of Wema Bank Plc in June 2018. He joined the Bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015. Under his leadership, he expanded the bank’s footprints to other locations in Nigeria, he improved the performance of the Bank and spearheaded the first Dividend payment in 13 years, since then, he has ensured consistent dividend payment over the last 4 years. The Bank has grown its Total Assets by 155%, from N470 billion to over N1.2trillion. Deposits also grew by 214% from N350 billion to N1.1 trillion. He initiated the partnership with Bank of Africa to support its customers across the African continent which has increased the Bank’s market share and customer base. All these led to an additional growth of 2 million customer accounts in Nigeria and a market share of 3% of industry volumes. The Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. The Bank’s rating by agencies was upgraded to BBB investment grade.
The Bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came tops in the KPMG Digital Scorecard for leading retail banks in Nigeria and this was based on in-depth insights into the state of user experience on retail banks’ digital channels. Furthermore, the Bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses. The Bank also became one of the founding members of the United Nations Environmental plan for financial institutions (UNEP- FI) and continues to provide digital solutions for societal impact.
The Chairman of the Board, Mr. Babatunde Kasali on behalf of the Board and Management expressed its profound gratitude to Ademola for his service and wish him the best in his future endeavors.
Further, Wema Bank Plc is pleased to announce the appointment of Mr. Moruf Oseni as the Managing Director/CEO subject to the approval of the Central Bank of Nigeria.
Moruf Oseni joined Wema Bank in June 2012 as an Executive Director. He has over 25 years of experience with more than 16 years at Senior and Executive Management levels. Moruf Oseni was an Executive Director for 6 years and Deputy Managing Director for the last 4 years and has demonstrated capacity to lead the Bank. He presently has responsibility for the Digital Optimization Directorate which includes – Digital, Retail, Treasury, Operations, and the Technology Divisions. Moruf is also the Executive Compliance Officer of the Bank. He supervised the launch of ALAT – Nigeria’s 1st digital Bank that has received local and global awards and multiple accolades. Before joining Wema Bank, Moruf was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, Moruf was a Vice President at Renaissance Capital, and an Associate at Salomon Brothers/Citigroup Global Markets in London.
Moruf holds an MBA degree from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MiF) from the London Business School and a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. He is also an alumnus of both the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.
Other Board appointments include:
Wole Akinleye: Appointed as the Deputy Managing Director. Wole has over 32 years Banking experience. He presently oversees Corporate Banking and South West Business Directorate for the Bank. A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Wole is an alumnus of the Advanced Management Program of the Harvard Business School. He obtained his first degree in Accounting from Obafemi Awolowo University in 1989 and subsequently, a master’s degree in Business Administration (Finance) from the same University.
Tunde Mabawonku: Appointed as Executive Director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services. Tunde has a master’s in finance from the London Business School and a first degree in Economics from University of Ibadan. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) & Chartered Institute of Taxation of Nigeria (CITN) and is an Honorary member of the Chartered Institute of Bankers (HCIB). He has also attended several Senior Leadership programs.
In conclusion, the Board of Directors are confident that the appointment of the Executives will lead to the continued transformation and growth of the Bank, particularly as the Bank positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.
The appointments take effect from April 1, 2023 and are subject to the approval of the Central Bank of Nigeria and other regulatory authorities.
Pascal Dozie, a renowned Nigerian entrepreneur and business leader has died. He was 86.
According to sources close to the deceased, Dozie died a battle with old age-related illness.
Dozie, was a man of many parts, best known for founding Diamond Bank and serving as chairman of Pan-Atlantic University.
He was born on April 9, 1939, in Egbu, Owerri, Imo State, Nigeria. Dozie’s educational background includes a degree in Economics from the London School of Economics and a master’s in Administrative Science from City University in London.
Dozie also founded theAfrican Development Consulting Group, which worked with notable clients like Nestle and Pfizer. He served as MTN Group chairman but later resigned and was succeeded by Ernest Ndukwe.
Dozie received the prestigious National Award of the Order of the Niger (OON) for his contributions to Nigeria’s banking industry.
Dozie is survived by his wife Chinyere Dozie, and five children among other relatives.
A former governor of Oyo State, Dr. Victor Olunloyo, is dead.
According to a statement by his family on Sunday, he died a few days before his 90th birthday.
The statement titled ‘Victor Olunloyo goes home’ was signed by Oladapo Ogunwusi on behalf of the family.
It read, “With a heavy heart but gratitude to the Almighty, we announce the passing into glory of Dr. Victor Omololu Olunloyo, former governor of Oyo State, mathematician and engineer and renowned technocrat, a few days before his 90th birthday.
“The Balogun of Oyo and Otun Bobasewa of Ife, Dr. Olunloyo was first Rector, Ibadan polytechnic and first Rector, Kwara State Polytechnic among other notable appointments.
“His long record of service to the nation and humanity is a source of pride to his family and associates even as we come to grip with this devastating event.
“The Olunloyo family will appreciate the understanding of the press and the public as they commence efforts to give him a befitting burial.
“Even from everlasting to everlasting, He is God.”
About a year ago in April 2024, the rumour of the death of the elder statesman was reported by some news platforms.
But speaking with The PUNCH correspondent who visited his Molete residence in Ibadan, the state capital, he debunked the rumour, saying he was hale and hearty.
“I’m still here, not yet gone,” he declared then.
He also expressed worry over the rumour and asked who would live forever, stressing, “Those breaking death news and the person presumed dead will all die one day.
“I’ve been lucky. My father died at 42, while my mother died at 102. I’m 89. I’ve crossed the expected life age.”
The elder statesman also illustrated how the rumour of his death hit several news platforms on June 7, 2022.
He noted that the rumour mongers claimed that he died at the University College Hospital, Ibadan.
A few days later, the family issued a statement, declaring that he was not dead but suffering from old age ailment and asked Nigerians to pray for him to survive the health complications.
The leadership of the Real Estate Developers Association of Nigeria (REDAN), has congratulated Aare Adetola Emmanuel-King as he clocked 50 years.
Speaking on behalf of the Association,
President & Chairman of Council, Prince Akintoye Adeoye, celebrated Emmanuel-King’s passion and dedication, which continues to inspire the real estate sector.
Below is the detailed statement:
It is with great pleasure that I, Prince Akintoye Adeoye, President and Chairman of Council of the Real Estate Developers Association of Nigeria (REDAN), on behalf of the entire Association, extend my warmest birthday wishes to you.
As you celebrate your birthday today, we recognize your outstanding contributions to the real estate industry. Your visionary leadership in making homeownership accessible and building Adron Homes & Properties into a leading brand sets a high standard for excellence. Your passion and dedication continue to inspire many of us in the real estate sector.
Today is not just a birthday; it is a celebration of your remarkable achievements, wisdom, and the abundant grace of God. From a visionary start to shaping the future of affordable housing in Nigeria, your leadership in the real estate sector has been ground-breaking.
REDAN is proud to recognize your invaluable contributions to the real estate sector and our association. As you step into this new age, may you be blessed with continued success and even greater accomplishments in all your endeavors.
Turning 50 is a momentous occasion, offering a time for reflection on the many successes and cherished memories that have shaped your journey. At REDAN, we wish you continued good health, wisdom, and divine grace as you keep contributing to the advancement of the real estate sector and our beloved nation.
May this year and the ones ahead be filled with even greater achievements, joy, and fulfillment.
Once again, happy 50th birthday, Aare Adetola Emmanuel King.
