Jobs/Appointments
Omoluabi Mortgage Bank Awaits CBN Approval of Adekunle as MD
By Dipo Olowookere
The board of Omoluabi Mortgage Bank Plc has announced a change to its composition with the appointment of few individuals, though subject to the approval of the Central Bank of Nigeria (CBN).
In a statement signed by the company secretary, Olabisi Fayombo, it was disclosed that the organisation has a new Managing Director and he is Mr Adewole Adekunle.
Others appointed to the board were Mr Yemi Adefisan as a non-executive director, Mrs Feyintola Ibidunni Olatunde-Agbeja as an independent director, Mr Olufemi Adesina as a non-executive director, and Mr Oyewole Olowu as an executive director.
The new Managing Director, Mr Adewole Adekunle, is a thorough-bred banking professional with over 22 years’ experience cutting across retail, commercial, corporate banking, public sector, corporate strategy, corporate & structured finance, risk management, credit collections & recoveries and legal.
He was at various times head of branch operations, profit centre manager, branch manager, regional director and Group Head in Omega Bank (now Keystone Bank), Standard Trust Bank (now UBA), Broad Bank (now Union Bank) and Sterling Bank where he left in 2018 on General Management Cadre.
He has honed relevant skills in building and leading high performing teams and brings on board a deep knowledge of the market, personal acumen, team leadership skills and business fundamentals relevant to mortgage banking.
Mr Adekunle holds a Bachelors of Technology degree in Applied Meteorology from the Federal University of Technology, Akure, two Master in Business Administration degrees in Marketing and Finance from University of Ado Ekiti and Metropolitan School of Business & Management, UK respectively.
He also holds a Master in Business Law (LLM) from the Metropolitan School of Business & Management, UK and a Certificate in Global Management (CGM) from the Institut Européen d’Administration des Affaires (INSEAD), Fontainebleau, France.
He is a member of the Nigeria Institute of Management, Honorary Senior Member of the Chartered Institute of Bankers of Nigeria, Alumnus of the prestigious INSEAD Global Management Program and Lagos Business School’s Advanced Management Program.
On his part, Mr Adefisan has been widely exposed to business formation, strategy and planning in the course of his career spanning over 20 years, traversing through banking, oil and gas, real estate, manufacturing and logistics industry.
He is a consummate banker and financial expert having previously worked with Seven Up Bottling Company Plc, Pacific Bank Limited (Unity Bank Plc), Crystal Microfinance Bank Limited, Skye Bank Plc and Fast Credit Limited.
He holds two Master in Business Administration degrees from Ladoke Akintola University and Metropolitan School of Business and Management, United Kingdom.
A Fellow of Microfinance Association UK, National Institute of Marketing of Nigeria and Institute of Management Consultants. He is also a member of the Nigerian Institute of Management (Chartered), Institute of Directors Nigeria and Nigerian Economic Summit Group (NESG). He seats on the board of over 15 companies across Africa and currently serves as the Group Chief Executive of CITITRUST Holdings Plc.
For Mrs Olatunde-Agbeja, she is a Fellow of the Institute of Chartered Accountants of Nigeria who graduated in 1980 with a Bachelor of Science Degree in Computer Science and Mathematics from the University of Lagos, Lagos.
Thereafter, she became an Audit Trainee at the accounting firm of Peat, Marwick, Ani, Ogunde & Co. (now KPMG) and qualified as a Chartered Accountant in 1987.
She joined the services of the Central Bank of Nigeria (CBN) as a Senior Supervisor in 1986 and her experience spanned over 32 years in the key areas such as banking operations, internal audit, banking and other financial institutions supervision amongst others.
She was appointed an Assistant Director of the CBN in 2006, and further appointed as the Branch Controller of CBN Abeokuta Branch, Ogun State where she retired as a Director in September 2018. She joined Boff & Company as Executive Director, Finance and Administration in February 2019.
On the part of Mr Adesina, a financial, marketing and management professional, he is armed with over 20 years of extensive and diverse experience in finance, private equity, banking, and venture capital marketing, marketing communication, sales and administration.
He started his career with KPMG before moving to the business group of a top Nigerian bank. He later moved to the Financial Control and Strategic Planning unit of the bank. He has worked with a number of other firms. In 2005, he became the pioneer Managing Director of Fluffy Enhancing lives Funds Limited, a private equity firm.
He consults for a lot of businesses, including Oasis Shefa Int’l Limited, Jineda Global Limited (both oil brokerage firms) and Consultoria Foresighta Limitada, a Brazillian firm.
He is a fellow of the National Institute of Marketing of Nigeria, fellow of the Certified Institute of Purchasing Supply of Nigeria. He holds MBA from Kensington University, Glendale, California. He also sits on the board of Fluffy Funds Limited, WheelyWheely Logistics Limited and Livingsprings Helicopters Limited.
Another appointee, Mr Adewole, is an Estate Management graduate of Obafemi Awolowo University, Ile-lfe, Osun State. He also has a National Diploma in Surveying and Geoinformatics from the Federal polytechnic, Ado- Ekiti.
He worked with Zain Nigeria and then moved on to Portal Realties Limited where with diligence and hard work he rose to the position of the General Manager Sales Division. He co-founded Capital Metropolis Synergy Limited, a real estate development and consultancy outfit in Abuja.
For Mr Olowu, he is a graduate of Accounting from the Lagos State University. His experience cuts across both the public sector and the banking industry. He worked with the Raw Materials Research Development Council (RMRDC), Federal Ministry of Science & Technology as a State Accountant in the Lagos State Liaison Office for 10 years before joining the banking sector.
He is a versatile mortgage banker with over 15years experience in banking operations, e-banking, credit, business development and retail banking. He had worked with Lagoon Homes Savings and Loans Limited (Mortgage Bankers), Resort Savings and Loans Plc. (Mortgage Bankers) and Jubilee-Life Mortgage Bank Plc, from where he joined Omoluabi Mortgage Bank Plc.
He holds an MBA (Finance) and an Honorary Fellow Institute of Corporate Administration (FCA).
By Adedapo Adesanya
Nigerian human resources management company, SeamlessHR, has raised a $9 million Series-A extension round, three years after it raised $10 million Series A funding.
The company plans to use the new funding to drive its expansion across Africa, which may include acquisitions.
The fresh funding was backed the Gates Foundation and Helios Digital Ventures. This is a change from the norm as the raise in 2022 was led by TLcom Capital, with significant contributions from Capria Ventures, Lateral Capital, Enza Capital, Ingressive Capital, and some private investors.
The startup builds world-class cloud solutions to help organisations manage most HR processes on one platform, will be looking to acquire a firm in Nigeria and set its sight on new frontiers in Southern and East Africa.
The new round of funding brings SeamlessHR’s total fund raised to about $25 million.
Before it raised the $10 million in 2022, it raised an undisclosed seed round from the same investors and Consonance Investment Managers in 2020. SeamlessHR, founded in 2018, raised a $150,000 pre-seed round from Tofino Capital and Ventures platform in 2019.
Announcing the raise, Mr Emmanuel Okeleji, SeamlessHR’s Co-founder and CEO said the raise will allow it to continue serving both private and public entities.
“Over the last 5 years, we have expanded across the continent to become the dominant HR and Payroll Software for medium to large enterprises in Africa.
“While we continue to accelerate our work to optimize workforce productivity in both the public and private sectors across the continent, much of our attention will also be on empowering hardworking Africans with responsible credit products that will help them use their employment as collateral to enjoy a better life,” he said.
SeamlessHR comprehensive suite of tools covers everything from core HR functions and performance management to payroll and recruitment. In 2024, they added an e-procurement platform to their product offerings.
Among some of its customer base including PwC, Sterling Bank, and Lagos Business School as well as entities in Ghana and Tunisia.
By Adedapo Adesanya
The Lagos State House of Assembly on Friday named four new principal officers, following the impeachment of the former Speaker, Mr Mudashiru Obasa, on Monday.
Mr Obasa, who was ousted as Speaker in absentia, a position he has held for the last nine years, was replaced by Mrs Mojisola Meranda (APC-Apapa 1).
Mr Obasa was impeached on Monday over alleged gross misconduct by 32 out of the 40 members.
The Clerk of the House, Mr Lekan Onafeko, was also suspended over alleged gross financial impropriety.
The House also dissolved all the standing committees inaugurated by the former speaker.
On Friday, Mrs Meranda, while presiding over plenary as Speaker, said the appointment of new officers arose from the change in the leadership of the House.
“The House has named Mr Temitope Adewale (APC-Ifako-Ijaiye 1) as the new Majority Leader, while Mr Adedamola Kasunmu (APC- Ikeja 1) is the new Deputy Majority Leader.
“This House has also named the Chief Whip, Mr Setonjo David (APC-Badagry 2), while the Deputy Chief Whip is now Mr Babatunde Saani (APC-Kosofe 2),” she said.
Before Mr Obasa’s impeachment, Mr Mojeed Adams was the Majority Leader, while Adedamola Kasunmu was the Deputy Leader.
Mr Mojeed Adams, the new Deputy Speaker, was the former Chief Whip, while Mr Setonji David was the Deputy Chief Whip.
Business Post reports that three lawmakers, primarily Mr Obasa, Mr Adams and Mr Akinsanya, were absent at the first plenary presided over by the new leadership.
By Aduragbemi Omiyale
Fidelity Bank Plc has received the authorisation of the Central Bank of Nigeria (CBN) to appoint three directors to its board, a statement from the lender has disclosed.
Business Post reports that the bank picked Mr Abdullahi Sarki Mohammed as an independent non-executive director, Ms Obiaku Augusta Okam as a non-executive director, and Mr Sufiyanu Ibrahim Garba as an executive director, all effective January 14, 2025.
The company disclosed that the three directors were chosen to strengthen its leadership in a strategic move to sustain its impressive performance, as Mr Isa Mohammed Inuwa and Mr Chidi Agbapu retired from the board as an independent non-executive director and a non-executive director, respectively.
The chairman of Fidelity Bank, Mr Mustafa Chike-Obi, in a notice to the Nigerian Exchange (NGX) Limited, welcomed the appointees to the board and looked “forward to leveraging their extensive experience to drive the bank’s strategic objectives and further its growth trajectory.”
Mr Mohammed brings over 36 years of experience in financial services, public administration, and human resources development, having held key leadership and executive roles at prestigious institutions including First Bank of Nigeria Plc and Polaris Bank Limited. His extensive expertise encompasses banking, public service, and business advisory.
On her part, Ms Okam boasts more than 30 years of impressive experience across the banking, financial services, real estate, and retail sectors. Currently the Managing Director/CEO of Skycurve Nigeria Limited, she has held leadership positions at Zenith Bank Plc and Nigeria International Bank Limited (Citibank).
As for Mr Garba, he has over 30 years of multifunctional and cross-border experience at leading financial institutions in Nigeria and the United Kingdom including executive and leadership roles at prestigious financial and non-financial institutions such as Access Bank Plc, Union Bank of Nigeria Plc and Keystone Bank Limited. His career background spans banking, financial services, public service, general management and business origination across a broad range of segments.
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