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Wema Bank Plc has appointed Moruf Oseni as its new Managing Director/CEO. Oseni, currently the Deputy Managing Director, takes over from Ademola Adebise whose retirement has been announced.
Oseni currently manages the Digital Optimization Directorate which includes – Digital, Retail, Treasury, Operations, and the Technology Divisions. Moruf is also the Executive Compliance Officer of the Bank. He supervised the launch of ALAT – Nigeria’s 1st digital bank.
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Adebise will be proceeding on terminal leave from January 2nd, 2023, after more than 13 years of meritorious service on the board of the bank.
The bank also announced the appointment of Wole Akinleye, an Executive Director as Deputy Managing Director and Tunde Mabawonku as Executive Director.
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, he improved the performance of the Bank and spearheaded the first Dividend payment in 13 years, since then, he has ensured consistent dividend payment 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.
He initiated the partnership with 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 two million customer accounts in Nigeria and a market share of 3% of industry volumes.
The bank is now the leading collection bank for government agencies due to its efficient platform. The bank’s rating by agencies was upgraded to BBB investment grade.
Wema Bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came tops in the KPMG Digital Scorecard for leading retail banks in Nigeria and this was based on in-depth insights into the state of user experience on retail banks’ digital channels.
Wema Bank’s Chairman, Mr. Babatunde Kasali, commended Adebisi for his commitment.
