Ademola Adebise, the Managing Director/CEO of Wema Bank Plc, has announced his retirement. Ademola Adebise has served the bank honorably for more than 13 years and will now enter terminal leave.
Moruf Oseni, the current Deputy Managing Director, will follow Adebise upon his retirement on March 31, 2023.
In June 2018, Ademola Adebise was chosen to serve as the managing director and chief executive officer of Wema Bank Plc. He began working for the Bank in June 2009 as an Executive Director and in 2015 was promoted to the position of Deputy Managing Director.
He increased the bank’s presence throughout Nigeria under his direction.
He enhanced the bank’s efficiency and oversaw the first dividend payment in 13 years. Over the past four years, he has made sure dividend payments have been constant.
The bank’s total assets have increased from N470 billion to nearly N1.2 trillion, a growth of 155%. Additionally, deposits increased by 214%, from N350 billion to N1.1 trillion.
In order to service its customers across the continent, Adebise established the relationship with Bank of Africa, which has boosted the bank’s market share and clientele.
As a result, Nigeria added two million new user accounts, increasing its market share to 3%. Due to its effective platform, Wema is currently the leading collection bank for state and government entities, according to a statement by the bank.
Through the ALAT platform, the Bank dramatically altered the digital landscape. Based on in-depth analyses of the state of user experience on retail banks’ digital channels, the innovative platform won the top spot in the KPMG Digital Scorecard for leading retail banks in Nigeria.
For the purpose of empowering SMEs and increasing their capacity, it established the first SME Business School. A total of 20,000 small enterprises have benefited from this.
The bank continues to offer digital solutions for societal impact and was one of the original members of the UNEP-FI (United Nations Environmental Plan for Financial Institutions).
Adebise received heartfelt gratitude for his work from Babatunde Kasali, the board chairman.
Oseni, who will replace the departing chief executive subject to the Central Bank of Nigeria’s clearance, started working for the bank in June 2012 as an Executive Director. With more than 16 years in senior and executive management, he has more than 25 years of experience.
Oseni has proven she is capable of leading the bank throughout her six years as an executive director and her four years as deputy managing director.
He is currently in charge of the directorate for digital optimization, which consists of the divisions for technology, operations, treasury, retail, and digital. He serves as the bank’s Executive Compliance Officer as well.
He oversaw the opening of ALAT, Nigeria’s first digital bank, which won accolades on both a local and international scale.
Oseni was the CEO of MG Ineso Limited, a principal investment and financial advice firm, prior to joining Wema Bank. Prior to joining Renaissance Capital, he held the positions of associate and vice president at Salomon Brothers/Citigroup Global Markets in London.
He has a Master of Finance (MiF) from the London Business School, a Bachelor of Science in Computer Engineering from Obafemi Awolowo University, and an MBA from the Institut European d’Administration des Affaires (INSEAD) in France (OAU).
He also graduated from King’s College in Lagos as well as the Harvard Business School’s Advanced Management Program (AMP).
Other board appointments include Tunde Mabawonku and Wole Akinleye (Deputy Managing Director) (Executive Director).
