Wema Bank Plc has announced the appointment of Moruf Oseni as its Managing Director designate, subject to the approval of the Central Bank of Nigeria.
The appointment follows the retirement of its Managing Director/CEO, Ademola Adebisi. He will be proceeding on terminal leave from January 2nd, 2023, after over 13 years of meritorious service on the board of the bank.
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. Moruf Oseni was an Executive Director for 6 years and Deputy Managing Director for the last 4 years and has demonstrated the capacity to lead the bank.
He presently has responsibility for the Digital Optimisation Directorate, which includes – digital, retail, treasury, operations and the technology divisions.
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Moruf holds an MBA degree from the Institut Europeen 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 both the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.
The Chairman of the board, Mr. Babatunde Kasali on behalf of the board and management expressed its profound gratitude to Ademola for his service and wished him the best in his future endeavors.
Ademola Adebise was appointed as the Managing Director/Chief Executive Officer of Wema Bank Plc in June 2018. He joined the bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015.
Under his leadership, he expanded the bank’s footprints to other locations in Nigeria, improved its performance and spearheaded the first dividend payment in 13 years, since then, he has ensured consistent dividend payments over the last 4 years.
The bank has grown its total assets by 155%, from N470 billion to over N1.2 trillion. Deposits also grew by 214% from N350 billion to N1.1 trillion.
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