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Moruf Oseni to take over from Ademola Adebisi as Wema Bank MD April, 2023

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The board of directors of Wema Bank Plc has appointed Moruf Oseni as its Managing Director/Chief Executive Officer, effective from April 1st, 2023.

In a statement by the bank, Oseni will take over from Ademola Adebisi upon the latter’s retirement on march 31st 2013. Adebisi has served meritoriously for over 13 years on the board of the bank.

Commenting on the appointment, Board Chairman Babatunde Kasali expressed profound gratitude to Ademola for his service and wished him the best in his future endeavours.

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.

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. He is currently the Deputy Managing Director of the bank.

He led the bank as an Executive Director for 6 years and Deputy Managing Director for the last 4 years.

He presently has responsibility for the Digital Optimization Directorate which includes – Digital, Retail, Treasury, Operations, and 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. Earlier, he served as the Vice President at Renaissance Capital and an Associate at Salomon Brothers/Citigroup Global Markets in London.

Also in the same vein, the bank announced Wole Akinleye, an Executive Director, as its new Deputy Managing Director, while Tunde Mabawonku, its Chief Financial Officer has been elevated to become Executive Director.

According to the statements, the appointments are subject to the approval of the Central Bank of Nigeria and other regulatory authorities.

Akinleye has over 32 years of Banking experience. He presently oversees Corporate Banking and South West Business Directorate for the Bank.

Tunde Mabawonku has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services.

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