Wema Bank Plc’s board of directors has appointed Moruf Oseni as its Managing Director/Chief Executive Officer, effective April 1st, 2023.
According to a statement obtained by Naijaonpoint, Oseni will succeed Ademola Adebisi, who will retire on March 31, 2013. Adebisi has served on the bank’s board of directors with distinction for over 13 years.
In a statement on the appointment, Board Chairman Babatunde Kasali thanked Ademola for his service and wished him the best in his future endeavours.
About Adebisi
Adebisi joined the bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015.
- Under his leadership, the bank expanded its footprints to other locations in Nigeria. He improved the performance of the Bank and spearheaded the first Dividend payment in 13 years.
- The Bank has also grown its Total Assets by 155%, from N470 billion to over N1.2 trillion, while Deposits increased by 214%, 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% of industry volumes.
About Oseni
Moruf Oseni joined Wema Bank as an Executive Director in June 2012. He has over 25 years of experience, including over 16 years in Senior and Executive Management. He is currently the bank’s Deputy Managing Director.
He was the bank’s Executive Director for six years and its Deputy Managing Director for the last four.
He is currently in charge of the Digital Optimization Directorate, which includes the divisions of Digital, Retail, Treasury, Operations, and Technology.
Moruf is also the bank’s Executive Compliance Officer. He oversaw the launch of ALAT, Nigeria’s first digital bank, which received local and global awards and numerous accolades.
Moruf was the CEO of MG Ineso Limited, a principal investment and financial advisory firm, before joining Wema Bank. He previously worked in London as a Vice President at Renaissance Capital and as an Associate at Salomon Brothers/Citigroup Global Markets.
Other appointments
Furthermore, the bank named Wole Akinleye, an Executive Director, as its new Deputy Managing Director and Tunde Mabawonku, its Chief Financial Officer, to the position of Executive Director.
According to the statements, the appointments are subject to approval by the Central Bank of Nigeria and other regulatory authorities.
Akinyeke has been in the banking industry for over 32 years. He is currently in charge of the Bank’s Corporate Banking and South West Business Directorate.
Tunde Mabawonku, the Chief Finance Officer and Divisional Head of Finance & Corporate Services, has over 23 years of experience.
