The Deputy Managing Director/Chief Executive Officer of Wema Bank Plc, Mr Moruf Oseni, has been elevated to the position of the MD/CEO following the retirement of Mr Ademola Adebise.
In a statement on Friday, the bank said Adebise will retire from his current position on March 31, 2023. However, he will be proceeding on terminal leave from January 2, 2023.
The outgoing MD/CEO of Wema Bank joined the board of the financial institution over 13 years ago. He took over the helms of affairs in June 2018 from Segun Oloketuyi.
Under his leadership, Adebise has expanded the lender’s footprints to other locations in Nigeria, improving the performance of the bank and spearheading the first dividend payment in 13 years.
Since then, he has ensured consistent dividend payments over the last four years, with the organisation growing its total assets by 155 per cent from N470 billion to over N1.2 trillion and deposits growing by 214 per cent from N350 billion to N1.1 trillion.
He initiated the partnership with the 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 per cent of industry volumes.
Wema Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. Its rating by agencies was upgraded to BBB investment grade.
Further, the bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came top 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.
In addition, the bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses. Wema 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, in a statement, thanked Adebise on behalf of the board and management for his service and wished him the best in his future endeavours.
Meanwhile, the appointment of Mr Oseni as the MD/CEO of Wema Bank is subject to the approval of the Central Bank of Nigeria (CBN).
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. The banker was an executive director for six years and DMD for the last four years and has demonstrated the capacity to lead the bank.
He presently has responsibility for the Digital Optimization Directorate, which includes the Digital, Retail, Treasury, Operations, and Technology Divisions.
Oseni is also the Executive Compliance Officer of the bank and supervised the launch of ALAT.
Before joining Wema Bank, he was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, he was a Vice President at Renaissance Capital and an Associate at Salomon Brothers/Citigroup Global Markets in London.
The new MD/CEO 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 the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.
Also, Wema Bank has appointed Mr Wole Akinleye as the new DMD. He has over 32 years of banking experience and presently oversees Corporate Banking and South West Business Directorate for the company.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and 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.
Further, Wema Bank has appointed Mr Tunde Mabawonku as an executive director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services.
He has a master’s in finance from the London Business School and a first degree in Economics from the University of Ibadan. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) & Chartered Institute of Taxation of Nigeria (CITN) and an honorary member of the Chartered Institute of Bankers (HCIB).
These appointments, according to the financial institution, take effect from April 1, 2023, and are subject to the approval of the CBN and other regulatory authorities.
A statement issued on Saturday by the spokesman of the police, Mr Olumuyiwa Adejobi, disclosed that Mr Mba is now the CP for Border Patrol Force in Abuja.
The police officer left the post after he was nominated for the Senior Executive Course at the National
Institute, between February and December 2022, holds a Masters’ Degree in Law and was enlisted into the security agency in 1992.
Also, the police IG has appointed Mr Sadiq Abubakar as the new CP for the Federal Capital Territory (FCT) Abuja.
Just like Mr Mba, the new FCT Abuja CP joined the police in 1992 as a cadet Assistant Superintendent of Police (ASP). He was the Commissioner of Police Peacekeeping Operations and Coordinator of Police Special Forces before his nomination for the Senior Executive Course at the National Institute between February and December 2022.
The other CPs redeployed by Mr Baba are CP Arungwa N. Udo to CP DFA Force Intelligence Bureau, Force Headquarters, Abuja; CP Bardaru B. Lawal to CP General Investigations, Force Criminal Investigations Department Annex, Kaduna; CP Suleiman A. Yusuf to CP Admin, Research and Planning, Force Headquarters, Abuja; CP Ebong E. Ebong to CP Admin DFA, Force Headquarters, Abuja; and CP Babaji Sunday to Commandant, Police College Maiduguri.
In the statement, the IGP charged the newly posted officers to hit the ground running in the areas of crime-fighting, public cooperation, and safety.
He also called for support and cooperation from members of the public to the new Police helmsmen to enable them to perform optimally on their mandate.
The General Counsel and Company Secretary of Nigeria LNG Limited, Mr Akachukwu Nwokedi, has emerged as the President-elect of the Nigerian Gas Association (NGA).
He will take over the position from Mr Ed Ubong, whom he worked under. Following his ascension, he will be tasked with the role of piloting and steering the affairs of the gas industry association for the next two years.
Mr Nwokedi, who is a former Managing Director of NLNG Ship Management Limited, is a long-standing active member of the association and was the first Vice President before emerging as President-elect.
The election was conducted recently as part of the Annual General Meeting (AGM) of the association, which was held in Lagos.
He has also, over the years, occupied several positions in the Association, namely Legal Advisor, Secretary General and Chairman, NGA Conference Committee
The newly elected Executive Council will formally assume office during the Association’s International Conference, which would hold in April 2023.
The council governs the activities of the NGA. It consists of eight elected members and several nominated ex-officials, who all on a voluntary basis for a tenure of two years.
The NGA was set up in 1999 as the umbrella professional body of the gas industry responsible for lead advocacy, promotion and protection of the interest of the gas industry and players in Nigeria.
NGA is the apex organisation representing the varied and numerous stakeholders in the gas sector within the Nigerian oil and gas industry.
The association is a non-political association that was formed to promote the development of gas in Nigeria for the benefit of the nation and the various stakeholders. It is the largest gas-focused volunteer/individual-member organisation, the umbrella association and voice of the gas industry in Nigeria.
