WEMA Financial institution Appoints New CEO As Adebise Retires

WEMA Financial institution Appoints New CEO As Adebise Retires

Life-style Nigeria gathered that Wema Financial institution Plc has introduced the retirement of its Managing Director/CEO, Ademola Adebise.

He shall be continuing on terminal go away from January 2nd, 2023, after over 13 years of meritorious service on the Board of the Financial institution. He shall be succeeded by Moruf Oseni, at the moment the Deputy Managing Director.

The financial institution additionally introduced the appointment of Wole Akinleye, an Government Director, as Deputy Managing Director and Tunde Mabawonku as Government Director.

Adebise was appointed because the Managing Director/Chief Government Officer of Wema Financial institution Plc in June 2018.

He joined the Financial institution in June 2009 as an Government Director and rose to change into the Deputy Managing Director in 2015.

Below his management, he expanded the financial institution’s footprints to different places in nigeria, he improved the efficiency of the Financial institution and spearheaded the primary Dividend cost in 13 years, since then, he has ensured constant dividend cost over the past 4 years.

The Financial institution has grown its Whole Belongings by 155%, from N470 billion to over N1.2 trillion. Deposits additionally grew by 214% from N350 billion to N1.1 trillion.

He initiated the partnership with Financial institution of Africa to assist its clients throughout the African continent which has elevated the financial institution’s market share and buyer base. All these led to an extra development of two million buyer accounts in nigeria and a market share of three% of business volumes.

The financial institution is now the main assortment financial institution for state and authorities companies as a consequence of its efficient and environment friendly platform.

The financial institution’s score by companies was upgraded to BBB funding grade.



The financial institution considerably modified the digital panorama via the ALAT platform.

The modern platform additionally got here tops within the KPMG Digital Scorecard for main retail banks in nigeria and this was based mostly on in-depth insights into the state of consumer expertise on retail banks’ digital channels.

Moreover, the financial institution launched the primary SME Enterprise College for capability constructing and empowerment of SMEs – this has benefitted over 20,000 small companies. The financial institution additionally turned one of many founding members of the United Nations Environmental plan for monetary establishments (UNEPFI) and continues to offer digital options for societal influence.

The Chairman of the Board, Mr. Babatunde Kasali on behalf of the Board and Administration expressed its profound gratitude to Ademola for his service and need him one of the best in his future endeavors.

Additional, Wema Financial institution introduced the appointment of Mr. Moruf Oseni because the Managing Director/CEO topic to the approval of the Central Financial institution of nigeria.

Moruf Oseni joined Wema Financial institution in June 2012 as an Government Director. He has over 25 years of expertise with greater than 16 years at Senior and Government Administration ranges. Moruf Oseni was an Government Director for six years and Deputy Managing Director for the final 4 years and has demonstrated capability to guide the Financial institution.

He presently has accountability for the Digital Optimization Directorate which incorporates – Digital, Retail, Treasury, Operations, and the Expertise Divisions. Moruf can also be the Government Compliance Officer of the Financial institution. He supervised the launch of ALAT – nigeria’s 1st digital Financial institution that has obtained native and international awards and a number of accolades. Earlier than becoming a member of Wema Financial institution, Moruf was the CEO of MG Ineso Restricted, a principal funding and monetary advisory agency. Previous to MG Ineso, Moruf was a Vice President at Renaissance Capital, and an Affiliate at Salomon Brothers/Citigroup International Markets in London.

Different board appointments introduced by the financial institution embody Wole Akinleye, appointed because the Deputy Managing Director. Wole has over 32 years Banking expertise. He presently oversees Company Banking and South West Enterprise Directorate for the financial institution. A Fellow of the Institute of Chartered Accountants of nigeria (ICAN), Tunde Mabawonku was appointed as Government Director. He has over 23 years of expertise and is presently the Chief Finance Officer and the Divisional Head of Finance & Company Providers.

The appointments take impact from April 1, 2023 and are topic to the approval of the Central Financial institution of nigeria (CBN) and different regulatory authorities.

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