Wema Bank announces Moruf Oseni as new MD/CEO

After approval by the Central Bank of Nigeria (CBN), Wema Bank has announced Moruf Oseni as the substantive Managing Director/Chief Executive Officer (CEO) with effect from April 1, 2023. Oseni will succeed Ademola Adebise, who has been serving in an acting capacity since January 1, 2023.

Oseni started working at Wema Bank in 2012 as an Executive Director. He held the position of Deputy Managing Director during the bank's last four years before being named MD/CEO, when he showed the ability to guide the organization to even greater heights as it develops into a financial powerhouse.

Oseni was the MD/CEO of MG Ineso, a principal investment and financial advice firm, and had over 25 years of experience, including more than 16 years at senior to executive management levels. In addition, he worked in London as an associate at Schroder Salomon Smith Barney/Citigroup Global Markets and as a vice president at Renaissance Capital.

He holds a Master of Business Administration (MBA) from the London Business School, a Master of Finance (MIF) from the Institut European d'Administration des Affaires (INSEAD) in France, and a Bachelor of Science in Computer Engineering from Obafemi Awolowo University (OAU). He also graduated from King's College in Lagos and the Advanced Management Program (AMP) of the Harvard Business School.

The CBN also authorized the hiring of Wole Akinleye as Deputy Managing Director and Tunde Mabawonku as Executive Director, in addition to Oseni's appointment.

Before, Tunde Mabawonku was the bank's Chief Financial Officer, and Akinleye was the Executive Director in charge of Corporate Banking and the South-West Business.

The bank's board is optimistic that these new hires will be essential to the bank's future transformation and expansion as it establishes a leading position in Nigeria's banking sector through technology and innovation. Every appointment will start to take effect on April 1, 2023.

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