Jobs/Appointments
Wema Bank Appoints Adebise Acting MD/CEO as Oloketuyi Retires
By Modupe Gbadeyanka
Mr Ademola Adebise has been appointed as the acting Managing Director/Chief Executive Officer of Wema Bank Plc.
Mr Adebise, according to a statement made available to Business Post, will assume his new role with effect from Sunday, July 1, 2018, subject to regulatory approvals.
According to Wema Bank, the new appointee is taking over the position because the former occupier of the seat, Mr Segun Oloketuyi, is retiring from the financial institution with effect from September 30, 2018 almost a decade at the helm of the bank.
“On behalf of the board and management of [Wema] Bank, I want to thank Mr Oloketuyi for his service and wish him the best in his future endeavours,” said Oluwole Ajimisinmi, Wema Bank’s Company Secretary and Legal Adviser.
Mr Oloketuyi was named MD/CEO of Wema Bank Plc in June 2009, with the task of returning the bank to profitability following the 2008 banking crisis which saw the collapse of many banks.
At the time, Wema Bank had negative retained earnings in excess of N45 billion and was declared a bank in grave financial situation by the regulatory authority.
However, under his leadership, fortunes of the Wema Bank were completely turned around, leading to the recapitalization of the bank and its return to profitability. The lender is now positioned to deliver dividends to shareholders.
As part of a turnaround plan which Mr Oloketuyi led, the bank also regained its national banking license from the Central Bank of Nigeria (CBN), which has allowed it to expand to the northern and eastern parts of the country, significantly increasing its market share and customer base in the process.
The outgoing Wema Bank MD prioritized the use of technology to deliver improved service to customers, culminating into the launch of ALAT, which offers branchless banking services.
He will proceed on a terminal leave from July 1, 2018 and will be succeeded by Mr Adebise, who is currently the Deputy Managing Director of the bank.
Mr Adebise has been part of the Wema Bank’s Executive management team since 2009 and has played a pivotal role in the execution of the strategic turnaround plan of the financial institution.
He has over 28 years’ experience in the banking industry (inclusive of 4 years in management consulting), and has worked in various capacities in Information Technology, Financial Control & Strategic Planning, Treasury, Corporate Banking, Risk Management and Performance Management.
Before joining Wema Bank, Mr Adebise was Head, Finance & Performance Management Practice at Accenture (Lagos Office) where he led various projects for banks in Business Process Re-engineering, Information Technology and Risk Management.
He 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’s degree in Business Administration (MBA) from the Lagos Business School.
Mr Adebise is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also an Associate of the Chartered Institute of Taxation and Computer Professionals (Registration Council of Nigeria). He is an honorary Member of the Chartered Institute of Bankers of Nigeria (HCIB) and a member of the Institute of Directors.
In the statement, the board of Wema Bank expressed confidence that Mr Adebise’s appointment will lead to the continued transformation and growth of the Bank as it positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.
By Adedapo Adesanya
Global blockchain ecosystem behind the world’s largest digital asset exchange by trading volume and users, Binance, has appointed its co-founder, Ms Yi He, as its co-CEO.
“Yi has been an integral part of the executive leadership team since the launch of Binance. Her innovative and user-focused approach has been instrumental in shaping the company’s vision, culture, and bottom-up business strategy,” said Binance CEO, Mr Richard Teng. “This appointment is a natural progression and she will continue to guide the organization from strength to strength.”
“We remain dedicated to being the most trusted and regulated exchange in the world, always putting our users first. Yi plays a critical role in growing our community and driving product innovation as we work to reach one billion users. Together, we are focused on building the Web3 infrastructure and promoting financial freedom, empowering people to participate in a more open and fair financial system,” added Mr Teng.
“I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate crypto in its early days,” said Ms He. “Together, we bring diverse perspectives and are confident in leading the future of the industry during this pivotal time, as we responsibly expand our global presence and drive sustainable innovation with our users always at the center.”
Binance remains one of the world’s largest players in crypto trading, and leadership changes within the company continue to draw attention due to its scale and influence.
The appointment of a co-CEO adds structure during a period when global exchanges emphasize compliance, operational clarity and more formal management frameworks.
The company did not announce changes to its product lineup or platform priorities alongside the leadership update, and no financial terms were disclosed. The addition of a co-CEO role reflects an internal effort to distribute responsibilities as the firm works with regulators and seeks stability in a competitive and closely watched industry.
By Adedapo Adesanya
The African Petroleum Regulators Forum (AFRIPERF) has chosen Nigeria as its official headquarters and also elected the chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, as its chairman.
Recall that in September, 16 countries, led by Nigeria, gathered in Accra, Ghana, to witness the signing of the charter establishing the forum, which seek to harmonise oil regulation in Africa.
Others include Ghana, Somalia, Gambia, Madagascar, Sudan, Guinea, and Togo among others.
The decisions were announced at the inaugural executive committee meeting of the forum which took place virtually on December 2, 2025. The meeting which was attended by the 16 African countries, was convened to pick its leadership, headquarters and logo.
Prior to his endorsement as the substantive pioneering chairman, Mr Komolafe acted in interim capacity.
Also, Mrs Eyoanwan Ndiyo-Aiyetan also emerged as the secretary of AFRIPERF.
According to a statement on Wednesday, NUPRC notes that the development affirms Nigeria’s central role in the African petroleum regulatory space and as Africa’s largest producer of crude oil.
In his acceptance speech, Mr Komolafe thanked his African counterparts for the trust and honour, promising to ensure that no member country is left behind.
AFRIPERF aims to strengthen regional petroleum governance by fostering collaboration, cooperation and coordination among member regulators.
Its mission includes creating standards, enhancing transparency and addressing cross-border challenges such as gas trade, emissions, and digitalisation while making the African continent energy sector attractive for crucial investments.
By Adedapo Adesanya
The immediate past Chief of Defence Staff (CDS), General Christopher Gwabin Musa, has been nominated by President Bola Tinubu as the new Minister of Defence, replacing Mr Mohammed Badaru Abubakar.
The erstwhile minister resigned from his position with immediate effect for health reasons, the president’s spokesman, Mr Bayo Onanuga, had said on Monday night.
The 63-year-old’s departure coincides with a period of heightened security challenges across Nigeria, with the government under pressure to deal with a spate of mass kidnappings.
In a letter to Senate President, Mr Godswill Akpabio, President Tinubu conveyed Mr Musa’s nomination as the successor to Mr Abubakar, according to statement on Tuesday by Mr Onanuga, the Special Adviser to the President on Information and Strategy.
The 58-year-old retired military chief is described as a distinguished soldier who served as the CDS from 2023 until October 2025. He won the Colin Powell Award for Soldiering in 2012.
Born in Sokoto in 1967, Mr Musa received his primary and secondary education there before attending the College of Advanced Studies in Zaria. He graduated in 1986 and enrolled at the Nigerian Defence Academy the same year, earning a Bachelor of Science degree upon graduation in 1991.
He was commissioned into the Nigerian Army as a Second Lieutenant in 1991 and has since had a distinguished career. His appointments included General Staff Officer 1, Training/Operations at HQ 81 Division; Commanding Officer, 73 Battalion; Assistant Director, Operational Requirements, Department of Army Policy and Plans; and Infantry Representative/Member, Training Team, HQ Nigerian Army Armour Corps.
In 2019, he served as Deputy Chief of Staff, Training/Operations, Headquarters Infantry Centre and Corps; Commander, Sector 3, Operation Lafiya Dole; and Commander, Sector 3 Multinational Joint Task Force in the Lake Chad Region.
In 2021, Mr Musa was appointed Theatre Commander, Operation Hadin Kai. He later became Commander of the Nigerian Army Infantry Corps before being appointed CDS by President Tinubu in 2023.
In the letter to the Senate, Mr Tinubu expressed confidence in Mr Musa’s ability to lead the Ministry of Defence and further strengthen Nigeria’s security architecture.
If confirmed by the upper legislative chamber, he will take up the ministry at a crucial time when security challenges including terror and kidnappings are plaguing the country.
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