Wema Bank Plc has announced the appointment of Mr. Moruf Oseni as the managing director/CEO subject to the approval of the Central Bank of Nigeria (CBN). Alongside Oseni, the bank also appointed Wole Akinleye as the deputy managing director and Tunde Mabawonku as executive director. 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. Oseni was an executive director for six years and deputy managing director for the last four years and has demonstrated capacity to lead the bank.
The bank also announced the retirement of its former Managing Director/CEO, Ademola Adebise, who proceeds on terminal leave from today after over 13 years of meritorious service to the bank.
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.
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. He has ensured consistent dividend payments over the last four years.
The bank has grown its total assets by 155 per cent, from N470 billion to over N1.2 trillion. Deposits also grew by 214 per cent, from N350 billion to N1.1 trillion.
Adebise initiated the partnership with Bank of Africa to support its customers across the continent, which has increased the bank’s market share and customer base.
These led to an additional growth of two million customer accounts in Nigeria and a market share of three per cent. Wema is now the leading collection bank for state and government agencies owing to its efficient platform, a statement by the bank said.
