Banking
Adebise Assumes Office as MD/CEO of Wema Bank
By Dipo Olowookere
After acting as the Managing Director of Wema Bank Plc since July 2018, Mr Ademola Adebise will finally resume office as the MD/CEO of the financial institution from Monday, October 1, 2018.
This followed the retirement of Mr Segun Oloketuyi in September 2018 after proceeding on a terminal leave in July 2018.
Prior to this appointment, Mr Adebise was the Deputy Managing Director of Wema Bank, a role he held since January 2017.
A statement issued by the lender disclosed that the new MD/CEO has been part of the bank’s executive management team since 2009 and has played a pivotal role in the execution of the strategic turnaround plan of Wema Bank.
Also, Wema Bank has announced the appointment of Mr Moruf Oseni as its Deputy Managing Director from October 1, 2018.
The financial institution said both the appointments of Mr Adebise and Mr Oseni have been ratified by the Central Bank of Nigeria.
“In Ademola and Moruf, the Bank has two financial veterans with a wealth of experience in senior executive positions across a wide range of countries,” said Mr Babatunde Kasali, the Chairman of Wema Bank.
“With their proven track record in the financial services sector, the Board is confident that their appointments will lead to the continued transformation of the Bank as it positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation,” he added.
Mr Adebise has over 28 years’ experience in the banking and has worked in various capacities in Information Technology, Financial Control & Strategic Planning, Treasury, Corporate Banking, Risk Management and Performance Management.
It was disclosed that before joining Wema Bank Plc, Mr Adebise was the Head, Finance and Performance Management Practice at Accenture (Lagos Office), where he led multiple successful projects for banks in Business Process Re-engineering, Information Technology and Risk Management.
Mr Adebise is an alumnus of the Advanced Management Program (AMP) of the Harvard Business School and a holder of a bachelor’s degree in Computer Science from the University of Lagos.
He also holds a Master of Business Administration (MBA) from the Lagos Business School.
On his part, Mr Moruf Oseni, the new Deputy Managing Director of Wema Bank, since joining the bank Board in 2012, has contributed immensely to the growth of the bank’s retail business.
Until his appointment, he was the Executive Director in charge of Retail business and ALAT, the Nigeria’s first digital bank.
Mr Moruf Oseni brings a wealth of banking and non-banking experience to his new role.
Before joining Wema Bank, Mr Oseni was the CEO of MG Ineso Limited, a principal investment and financial advisory firm with interests in various sectors of the economy.
Prior to his time at MG Ineso, he was a Vice President at Renaissance Capital, where he was responsible for debt capital markets (DCM), equity capital markets (ECM) and structured finance origination and execution for sub-Saharan African corporates and financial institutions.
He was also an Associate at Salomon Brothers/Citigroup Global Markets in London and New York where he was involved in credit market origination and execution for European financial institutions.
He commenced his career as an IT officer with Nigeria Liquefied Natural Gas Company (NLNG) and holds an MBA from the prestigious Institut European d’Administration des Affaires (INSEAD) in France, a master’s in finance (MiF) from London Business School, London and a BSc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria.
He is also an alumnus of King’s College, Lagos and a member of the Institute of Directors (IoD), an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN) and a member of Nigerian Institute of Management (NIM).
He serves on the board of Continental Broadcasting Services Limited and is a member of the Lagos State Economic Advisory Committee.
By Modupe Gbadeyanka
The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.
The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.
The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.
They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.
They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.
The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.
In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.
The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.
After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.
“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.
“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.
“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.
“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.
“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.
This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.
“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”
Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.
He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.
By Aduragbemi Omiyale
The deputy managing director of First Bank of Nigeria (FBN) Limited, Mr Ini Ebong, has offloaded some shares of FBN Holdings Plc, the parent firm of the banking institution.
A regulatory notice from the Nigerian Exchange (NGX) Limited confirmed the development on Thursday.
It was disclosed that the transaction occurred on Friday, December 12, 2025, on the floor of the stock exchange.
The sale involved about 11.8 million shares, precisely 11,783,333 units traded at N31.14 per share, amounting to about N366.9 million.
Mr Ebong, who studied Architecture from University of Ife and obtained Bachelor and Master of Science degrees, became the DMD of First Bank in June 2024. Prior to this appointment, he was Executive Director, Treasury and International Banking since January 2022.
He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the bank’s Treasurer from 2011 to 2016.
Before joining First Bank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital. He also worked with Citigroup for 14 years as Country Treasurer and Sales and Trading Business Head.
He has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities.
He has worked closely with regulatory bodies such as the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) in assisting with the development of fresh monetary and foreign exchange policies, to broaden and deepen markets and open them up to international practices.
At various times he has facilitated and delivered courses and seminars on a wide variety of subjects covering Money Markets, Securities and Foreign exchange trading and market risk management subjects to regulators, corporate customers, banks and market participants.
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