Personality in Focus
Wema Bank Gets New MD/CEO As Adebise Retires
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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.
The Ooni of Ife, Oba Adeyeye Ogunwusi, Ojaja II, has announced the passing of his immediate elder brother, Prince Adetunji Ogunwusi.
The monarch made the announcement in a statement released on Sunday through the Director of Media and Public Affairs at the Ooni’s Palace, Sodiq Lawal.
Describing the late prince as a respected businessman and compassionate leader, the Ooni said Prince Adetunji lived a life dedicated to service, humility and the wellbeing of others.
According to the statement, the death of Prince Adetunji has left a deep void in the Ogunwusi family, the Ojaja Royal Dynasty and the entire Ile-Ife Kingdom.
Prince Adetunji, who was born on December 8, 1967, was a member of the Ojaja lineage of the Giesi Ruling House in Ile-Ife. He was also the Group Chairman of Primewaterview Holdings, where he earned recognition for his contributions to business development and entrepreneurship.
The Ooni noted that his late brother built a reputation as an innovative entrepreneur and visionary leader. Through his business activities, he created opportunities for many people and contributed to economic growth in different sectors.
The monarch further stated that beyond his achievements in business, Prince Adetunji was known for his generosity, kindness and commitment to humanitarian causes. He was said to have quietly supported many individuals and families, offering assistance, guidance and encouragement whenever needed.
The statement added that Prince Adetunji’s influence extended beyond the corporate world, as he remained deeply connected to his roots and maintained a strong interest in the progress and development of Ile-Ife and its people.
The Ooni described his late brother as a dependable adviser, a loving family member and a man whose legacy would continue to inspire future generations.
Family members, friends, associates and well wishers have continued to pay tribute to the late prince, remembering him for his humility, wisdom and positive impact on society.
The palace said further details regarding funeral arrangements and other ceremonies would be announced by the family in due course.
Prince Adetunji’s death marks a significant loss to the royal family and the people of Ile-Ife, who will remember him for his service, leadership and dedication to humanity.
The Nigerian Bar Association (NBA) has elected Oyinkansola Badejo-Okusanya, a Senior Advocate of Nigeria (SAN), as its next president after she polled the most votes when voting officially ended Sunday morning.
Mrs Badejo-Okusanya, the only female among the three presidential candidates, polled 12,317 votes to emerge the winner of the election, which was held through electronic voting for 24 hours. from 7:35 a.m. on Saturday to 7:34 a.m. on Sunday
She defeated her two challengers, polling 47.18 per cent of the 26,106 ballots cast in the presidential election, based on the final tally…
Nearly a month after Keir Starmer’s resignation, former Manchester Mayor Andy Burnham, one of the most popular politicians in Britain, will become the country’s seventh prime minister in 10 years.
The move was made possible after Burnham won a byelection in the Makerfield constituency by a wide margin. He was then appointed as the leader of the ruling Labour Party on Friday, confirming him as Starmer’s successor.
A long political career
“Everyone can feel the country isn’t where it should be,” 56-year-old Burnham said after his Makerfield election victory, in remarks that already sounded distinctly prime ministerial. “From here on I will give everything I have got to make it so. To ensure the name Makerfield is forever synonymous with bringing about the change this country needs, bringing back something we’ve lost ― hope ― hope for the future.”
Burnham is seen as a leading figure on Labour’s moderate-left wing and has decades of experience in both national and regional politics. He first entered Parliament in 2001. Under Prime Minister Tony Blair, he served as a junior minister at the Home Office before Blair’s successor, Gordon Brown, appointed him to roles at the Finance Ministry, the Department for Culture, and later as health secretary.
Burnham even ran for the Labour leadership twice, in 2010 and 2015. In 2017, he left Parliament to become mayor of Greater Manchester, a region of around 2.8 million people in northern England. He has since won reelection twice, most recently getting nearly two-thirds of the vote.
Among Burnham’s most notable achievements in Manchester is the expansion of affordable public transportation. Housing and health care have also been central priorities throughout his time as mayor. He is critical of Brexit, the UK’s exit from the European Union in 2020, and describes himself as an advocate of “pro-business socialism.”
During the COVID pandemic, Burnham locked horns with then-Prime Minister Boris Johnson, demanding greater financial support for businesses and workers affected by lockdown restrictions. The confrontation and his general success in Manchester earned him the nickname “King of the North.”
In the past few years, Burnham’s main criticism of his Labour Party colleague Keir Starmer has focused on the prime minister’s cuts to welfare spending. Which policies Burnham would pursue should he succeed as prime minister has so far largely remained undefined.
A working-class northerner
Burnham is deeply rooted in the former mining and industrial communities of northern England. Born in 1970 in Aintree, near Liverpool, he grew up in the village of Culcheth with his father working as a technician and his mother as a medical assistant.
While studying English at Cambridge University, Burnham later said he often felt like an outsider. Inspired by the miners’ strike of the mid-1980s, he joined the Labour Party at the age of 14.
He’s been a lifelong supporter of Everton Football Club. His wife is Dutch, and the couple has three children. Burnham also has a tattoo of the worker bee — a symbol of industry and solidarity — on his right upper arm.
Today, Burnham is among the most popular politicians in the United Kingdom, and many supporters see him as Labour’s best hope of countering the rise of the right-wing populist Reform UK party of Nigel Farage.
Yet since the Brexit referendum in 2016, the office of British prime minister has become somewhat precarious. Burnham would be the seventh person to hold the position since the referendum a decade ago. If he does succeed Starmer, he will inherit a country still grappling with deep political, economic, and social challenges.
This article was originally published in German on June 22 and updated on July 17 to reflect Andy Burnham being appointed Labour Party leader.
Culled from DW.com
