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Moruf Oseni Takes Over as Wema Bank MD/CEO



Moruf Oseni Takes Over as Wema Bank MD/CEO

By Rosemary Iwuala

Wema Bank Plc has announced the appointment of Moruf Oseni as the substantive Managing Director and Chief Executive Officer effective April 1, 2023.

The appointment was first announced in December following the retirement of Ademola Adebise.

The bank in a statement said, “After serving in acting capacity since January 1, 2023, Oseni will succeed Ademola Adebise, following approval by the Central Bank of Nigeria(CBN).”

It stated that Oseni’s journey with Wema Bank began in 2012 when he joined as an executive director. Before his appointment as MD/CEO, he served as deputy managing director for the last four years, a role where he demonstrated the capacity to lead the bank to greater heights, as it continued to evolve into a financial powerhouse.

“With over 25 years of experience, including more than 16 years at senior to executive management levels, Oseni was the MD/CEO of MG Ineso, a principal investment and financial advisory firm.

He had also served as vice president at Renaissance Capital, and was an Associate at Schroder Salomon Smith Barney/Citigroup Global Markets in London.

“Oseni’s credentials speak for themselves, he holds a Master of Business Administration degree from the Institut European d’Administration des Affaires(INSEAD) in France as well as a Master’s in Finance from the London Business School, and a B.Sc. in computer engineering from Obafemi Awolowo University, Ile Ife.

“He is also an alumnus of the Advanced Management Program of the Harvard Business School and King’s College, Lagos,” the statement said.

In addition to Oseni’s appointment, the bank also said the Central Bank of Nigeria has (CBN) approved the appointments of Wole Akinleye as deputy managing director, and Tunde Mabawonku as executive director.

According the statement, “Akinleye previously served as the executive director in charge of corporate banking and the South-West business, while Mabawonku served as the bank’s chief finance officer.

“The board is confident that these new appointments will be crucial to the continued transformation and growth of the bank as it positions itself as a market leader in Nigeria’s banking industry through technology and innovation,” it added.

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