CBN Okays Oluseyi Kumapayi as Access Bank DMD

By Aduragbemi Omiyale

Access Bank Plc has secured the approval of the Central Bank of Nigeria (CBN) to appoint Mr Oluseyi Kumapayi as its Deputy Managing Director for African Subsidiaries, effective October 27, 2026.

This information was disclosed by Access Holdings Plc, the parent firm of the banking institution, in a notice to the Nigerian Exchange (NGX) Limited.

It was also disclosed that the banking sector watchdog has authorised the appointment of Mr Olanrewaju Bamisebi as Access Bank’s Executive Director of Information Technology and Digitalisation, effective October 28, 2026.

Mr Kumapayi is elevated from his previous position as Executive Director of African Subsidiaries, while Mr Bamisebi joins the board of Access Bank from Access Holdings, where he previously served as Executive Director of Information Technology and Digitalisation.

It was stated that the elevation of Mr Kumapayi reinforces the strategic importance of the African subsidiaries and the need to translate their established market positions into stronger earnings, improved returns on capital and greater operational efficiency.

Equally significant is the group’s decision to relocate executive leadership responsibility for Information Technology and Digitalisation from the holding company to Access Bank, its flagship operating subsidiary. This decision reflects the recognition that technology transformation must be closely integrated with banking operations, customer service, revenue generation and cost management.

By placing technology leadership at the heart of the Bank’s executive decision-making, the Group intends to accelerate digital transformation, simplify operating platforms, strengthen resilience and improve execution across its banking franchise.

“Access Holdings has built a substantial banking franchise across Africa and beyond. Our strategic priority is now to translate that scale into superior performance, greater efficiency, stronger returns on capital and sustainable value for shareholders.

“These appointments reflect that priority. Mr Kumapayi’s elevation reinforces our determination to improve the performance and contribution of our African subsidiaries, while Mr Bamisebi’s appointment reflects a deliberate decision to bring executive technology leadership closer to the Bank’s operations, customers and commercial priorities.

“We believe that clearer accountability, stronger execution and disciplined investment in technology will be critical to the next phase of our development. Both executives bring the experience and leadership required to advance these objectives,” the chairman of Access Holdings, Mr Aigboje Aig-Imoukhuede, commented.

The chief executive of Access Bank, Mr Roosevelt Ogbonna, said, “Our focus is on building a more productive, efficient and profitable banking institution, making better use of our capital, technology and established market presence.

“Across our African subsidiaries, the emphasis will be on improving returns, strengthening execution and capturing greater value from our existing franchise. In technology, our priority is to simplify platforms, improve reliability, accelerate innovation and deliver better outcomes for our customers at a lower cost to serve.

“By integrating executive technology leadership more directly into the Bank’s management structure, we are strengthening the connection between technology investment and business performance. I look forward to working with both executives as we deliver on these priorities.”

The new DMD brings over 25 years of banking experience spanning financial management, strategy, risk, treasury and business development. He joined Access Bank in 2002 and served as Group Chief Financial Officer from 2007 to 2020, playing an important role in strengthening the Bank’s financial management and supporting its strategic development.

He is a Fellow of the Institute of Chartered Accountants of Nigeria and holds an Executive MBA from IMD, Lausanne, and an Executive Master’s degree in Digital Transformation and Innovation Leadership from IE University, Madrid. He also holds degrees from the Universities of Lagos and Ibadan and is an alumnus of Harvard Business School’s General Management Program.

Mr Bamisebi, on his part, is an accomplished technology executive with over 20 years of experience in technology transformation, digital banking, enterprise systems and operational management across financial services and other industries.

In his new position, Mr Bamisebi will lead Access Bank’s technology and digitalisation agenda, with a particular focus on improving operating efficiency, modernising and simplifying technology platforms, strengthening cybersecurity and operational resilience, and accelerating the deployment of digital solutions that enhance customer experience and business performance.

He holds a B.Sc. in Computing and Information Technology from the University of Derby, an MBA from Durham Business School and qualifications in Computer Science and Accounting. He is an alumnus of the Cambridge Judge Business Senior Management Program.