Wema Bank Plc, has announced the retirement of its Managing Director/CEO, Ademola Adebise, effective March 31, 2023.

The bank said: “He will be on terminal leave effective January 2, 2023, after more than 13 years of meritorious service on the bank’s board of directors. He will succeed Moruf Oseni, currently deputy director general.

“Adebise was appointed Managing Director/CEO of Wema Bank in June 2018. He joined the bank in June 2009 as CEO and was promoted to Deputy Managing Director in 2015.”

Wema Bank stated that, “under his leadership, he expanded the bank’s footprints to other locations in Nigeria, improved the Bank’s performance and spearheaded the first dividend payment in 13 years, since then, he has ensured consistent dividend payment for the past few years. four years.

“The bank has increased its total assets by 155%, from 470 billion naira to over 1.2 trillion naira. Deposits also grew in 214, from 350 billion naira to 1.1 trillion naira.

“Initiated the partnership with Bank of Africa to support its clients across the African continent, which has increased the bank’s market share and customer base. All of this led to further growth of two million customer accounts in Nigeria and a three per cent market share of industry volumes.

“The bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. The agencies’ rating of the bank was upgraded to BBB investment grade. The bank significantly changed the digital landscape through the ALAT platform.”

He added that the bank launched the first SME Business School for capacity building and empowerment of SMEs, which has benefited more than 20,000 small businesses, and said that the bank also became one of the founding members of the Plan United Nations Environmental Fund for Financial Institutions (UNEPFI). and continues to provide digital solutions for social impact.

Wema Bank Chairman Mr. Babatunde Kasali expressed his deep appreciation to Ademola for his service and wished him well in his future endeavors, saying that the bank is pleased to announce the appointment of Mr. Moruf Oseni as CEO. /CEO. subject to the approval of the Central Bank of Nigeria (CBN).

Moruf Oseni joined Wema Bank in June 2012 as CEO. He has over 25 years of experience with over 16 years at senior management and executive management levels. Oseni was CEO for six years and Deputy CEO for the past four years and has demonstrated the ability to lead the bank.

The bank said the appointment of the executives will lead to the bank’s continued transformation and growth, particularly as the bank positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation, and said the appointments will take effect from April. 1, 2023 and are subject to approval by the CBN and other regulatory authorities.

Along with Oseni, the bank also appointed Wole Akinleye as deputy general manager and Tunde Mabawonku as chief executive officer.