Moruf Oseni, the immediate past deputy managing director of Wema Bank, has assumed the position of substantive managing director and chief executive officer of the lender effective 1 April, 2023.
The appointment was first announced in December following the retirement of Ademola Adebise, allowing Oseni to serve in an acting capacity in the three months to March before his appointment was confirmed.
According to a statement from Wema Bank over the weekend, the Central Bank of Nigeria has endorsed the decision to appoint Moruf Oseni, thereby confirming his appointment.
Wole Akinleye, until recently, the executive director superintending the bank’s corporate banking segment and the South West business, takes over as the deputy managing director just as Tunde Mabawonku, Wema Bank’s former chief financial officer, is also now an executive director.
Both appointments have been approved by the CBN and are effective from April 1, 2023.
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Moruf Oseni joined the Lagos-based lender in 2012 as an executive director and rose to become the deputy CEO, holding the role for four years.
The statement said that “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.”
it added that “He had also served as Vice President at Renaissance Capital and was an Associate at Schroder Salomon Smith Barney/Citigroup Global Markets in London.”
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.
Oseni is a graduate of Computer Engineering from the Obafemi Awolowo University, Ile Ife and an alumnus of the Advanced Management Programme of the Harvard Business School.
The statement explained that “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.”
