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Wema Bank Appoints Moruf Oseni New MD/CEO as Ademola Adebise Retires

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Wema Bank Moruf Oseni

By Aduragbemi Omiyale

The Deputy Managing Director/Chief Executive Officer of Wema Bank Plc, Mr Moruf Oseni, has been elevated to the position of the MD/CEO following the retirement of Mr Ademola Adebise.

In a statement on Friday, the bank said Mr Adebise will retire from his current position on March 31, 2023. However, he will be proceeding on terminal leave from January 2, 2023.

The outgoing MD/CEO of Wema Bank joined the board of the financial institution over 13 years ago. He took over the helms of affairs in June 2018 from Mr Segun Oloketuyi.

Under his leadership, Mr Adebise has expanded the lender’s footprints to other locations in Nigeria, improving the performance of the bank and spearheading the first dividend payment in 13 years.

Since then, he has ensured consistent dividend payments over the last four years, with the organisation growing its total assets by 155 per cent from N470 billion to over N1.2 trillion and deposits growing by 214 per cent from N350 billion to N1.1 trillion.

He initiated the partnership with the Bank of Africa to support its customers across the African continent, which has increased the bank’s market share and customer base. All these led to an additional growth of 2 million customer accounts in Nigeria and a market share of 3 per cent of industry volumes.

Wema Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. Its rating by agencies was upgraded to BBB investment grade.

Further, the bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came top in the KPMG Digital Scorecard for leading retail banks in Nigeria, and this was based on in-depth insights into the state of user experience on retail banks’ digital channels.

In addition, the bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses. Wema Bank also became one of the founding members of the United Nations Environmental plan for financial institutions (UNEP- FI) and continues to provide digital solutions for societal impact.

The Chairman of the board, Mr Babatunde Kasali, in a statement, thanked Mr Adebise on behalf of the board and management for his service and wished him the best in his future endeavours.

Meanwhile, the appointment of Mr Oseni as the MD/CEO of Wema Bank is subject to the approval of the Central Bank of Nigeria (CBN).

Mr Oseni joined Wema Bank in June 2012 as an Executive Director. He has over 25 years of experience, with more than 16 years at senior and executive management levels. The banker was an executive director for six years and DMD for the last four years and has demonstrated the capacity to lead the bank.

He presently has responsibility for the Digital Optimization Directorate, which includes the Digital, Retail, Treasury, Operations, and Technology Divisions.

Mr Oseni is also the Executive Compliance Officer of the bank and supervised the launch of ALAT.

Before joining Wema Bank, he was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, he was a Vice President at Renaissance Capital and an Associate at Salomon Brothers/Citigroup Global Markets in London.

The new MD/CEO holds an MBA degree from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MiF) from the London Business School and a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. He is also an alumnus of the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.

Also, Wema Bank has appointed Mr Wole Akinleye as the new DMD. He has over 32 years of banking experience and presently oversees Corporate Banking and South West Business Directorate for the company.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of the Advanced Management Program of the Harvard Business School. He obtained his first degree in Accounting from Obafemi Awolowo University in 1989 and, subsequently, a master’s degree in Business Administration (Finance) from the same University.

Further, Wema Bank has appointed Mr Tunde Mabawonku as an executive director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services.

He has a master’s in finance from the London Business School and a first degree in Economics from the University of Ibadan. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) & Chartered Institute of Taxation of Nigeria (CITN) and an honorary member of the Chartered Institute of Bankers (HCIB).

These appointments, according to the financial institution, take effect from April 1, 2023, and are subject to the approval of the CBN and other regulatory authorities.

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UAC Foods Elevates CFO Temitope Omodele to CEO

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Temitope Omodele

By Adedapo Adesanya

Nigerian fast-moving consumer goods (FMCG) powerhouse, UAC Foods Limited, has promoted its Chief Financial Officer, Mrs Temitope Omodele, to the position of chief executive.

The company, a subsidiary of UAC of Nigeria Plc (UACN), officially made the announcement on its official LinkedIn page.

The ex-KPMG executive has a big task ahead of her, particularly with UAC Foods now a N340 billion revenue company buoyed by its recent acquisition of CHI Limited. With the new appointment, the company positions the seasoned finance executive as the driving force to further increase the value of brands like Gala Sausage Roll, Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.

In its announcement, UAC Foods described the appointment as “an exciting new chapter,” affirming that Mrs Omodele will continue to “drive operational excellence, innovation, sustainable growth and long-term

Mrs Omodele began her career at KPMG Professional Services, where she rose through the ranks, from Senior Associate to Senior Manager, providing audit and assurance services across Nigeria’s financial services, FMCG, power and utilities, and energy and natural resources sectors.

Her time at KPMG was marked by an unusual distinction where she was seconded to the Department of Professional Practice at KPMG Inc. South Africa, gaining cross-border exposure to international standards and methodologies.

Following her return to Nigeria, she helped found the Department of Professional Practice for KPMG Professional Services Nigeria.

She joined the UAC of Nigeria Plc group in September 2020, initially as Technical Accounting and Reporting Lead and quickly advanced to Senior Vice President of Finance, with oversight of group-wide finance operations and reporting for the holding company. In this role, she served as a Non-Executive Director on the Board of Livestock Feeds Plc, a fellow UACN subsidiary.

She was then promoted to the role of Chief Financial Officer at UAC Foods Limited, expanding her operating-company exposure particularly around brand strategy, supply chain economics, and P&L accountability.

Mrs Omodele holds a Bachelor of Science in Accounting from the University of Lagos, supplemented by an Executive MBA from Lagos Business School at Pan-Atlantic University. She further completed Executive Education in data analytics and emerging technologies at the W. P. Carey School of Business, Arizona State University.

She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Fellow of the Association of Chartered Certified Accountants (ACCA).

Originally established as the United African Company in 1879, the company has evolved into one of Nigeria’s oldest and firmest companies. The UAC Foods unit was formally constituted in 2010 through a joint venture with Tiger Brands, the South African packaged food giant. In 2021, UACN acquired Tiger Brands’ minority stake, assuming full ownership and with it, full strategic responsibility for the subsidiary’s future.

The company is best known for its flagship Gala Sausage Roll, which has led Nigeria’s sausage roll market for over 60 years, alongside other popular brands including Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.

In 2025, UACN’s consolidated revenue surged further to N340.47 billion, bolstered by the landmark acquisition of CHI Limited (the maker of Chivita juice and Hollandia dairy products), though profitability came under pressure from elevated financing costs tied to that acquisition.

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Tinubu Okays Recruitment of 1,000 Forest Guards in Oyo

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Forest Guards

By Aduragbemi Omiyale

President Bola Tinubu has approved the recruitment of 1,000 forest guards in Oyo State in collaboration with the state government.

This was disclosed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, in a statement on Sunday.

The recruitment follows a visit to Esiele and Yawota communities in Oriire Local Government Area of Oyo State by a high-powered federal government delegation on Sunday, May 31, 2026.

The team, led by the President’s Chief of Staff, Mr Femi Gbajabiamila, was in the local council following the abduction of pupils and teachers from Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School on May 15, 2026.

Residents of the communities were promised the safe return of the victims. They were also informed that their request for the establishment of a military base in the area would be conveyed to the President for consideration and approval.

In addition, Mr Tinubu has directed a specialised security unit with advanced rescue capabilities to intensify efforts to secure the release of the abducted pupils and teachers.

Mr Gbajabiamila, while addressing residents in both English and Yoruba, said the President’s decision to dispatch the nation’s top security leadership to the affected communities reflected his determination to deploy every available resource towards securing the victims’ release.

“Mr President is deeply troubled by this incident. Whatever it takes, our children and teachers will be brought back home safely. He has issued all necessary directives and is providing every support required by our security agencies to achieve that objective.

“Your pain and anxiety are understood. By the grace of God, your children will return safely to your arms.

“Mr President also saw the appeals from some parents and community members urging caution in the rescue efforts. Let me assure you that the operation will be intelligence-led and carefully coordinated, deploying both kinetic and non-kinetic measures to secure the safe return of the victims,” he said.

The delegation was also at the palace of the Soun of Ogbomoso land, Mr Ghandi Afolabi Olaoye, to commiserate with him and his people. The group also met with the wife of the deceased school teacher, Mrs Mary Oyedokun, and her two children.

Other members of the team were the National Security Adviser, Mr Nuhu Ribadu; the Inspector-General of Police, Mr Tunji Disu; the Minister of Defence, Mr Christopher Musa; and the Special Adviser to the President on Media and Public Communications, Mr Sunday Dare.

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NCC Appoints Funke Opeke, ipNX’s Olusola Teniola to IPv6 Board

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olusola teniola ipNX

By Modupe Gbadeyanka

The duo of Mr Olusola Teniola and Ms Funke Opeke are now on the newly inaugurated Internet Protocol version 6 (IPv6) council board of the Nigerian Communications Commission (NCC).

The team was constituted as part of a broader industry effort to accelerate Nigeria’s transition to IPv6.

It has Mr Muhammed Rudman as Chairman, Mr Chris Uwaje as Vice Chairman, and Ms Mary Uduma, Mr Gbenga Adebayo, Mr Lanre Ajayi, and Mr Latif Ladid as members.

At the inauguration in Ikeja, Lagos, NCC said it created the group as part of its renewed commitment to accelerating Nigeria’s transition to IPv6, a critical enabler of the country’s digital future.

Speaking on his appointment, Mr Teniola, a director at ipNX, expressed appreciation to the NCC for the opportunity to serve and reiterated the importance of collaborative action in driving Nigeria’s digital transformation.

“The transition to IPv6 is no longer a future consideration; it is an immediate priority for Nigeria’s digital economy. As data consumption grows and emerging technologies such as 5G, IoT, and AI become more pervasive, we must ensure that our underlying infrastructure is scalable, secure, and globally competitive,” he said.

He further emphasised that achieving meaningful IPv6 adoption will require strong alignment across stakeholders, including telecom operators, internet service providers, enterprises, academia, and government.

“This is a collective responsibility. We must invest in capacity building, drive awareness, and create the right policy and regulatory environment to accelerate adoption. Nigeria cannot afford to lag in an increasingly connected world,” he added.

The IPv6 Council Board has been tasked with developing and overseeing the implementation of a national IPv6 strategy, monitoring progress, and providing periodic updates on adoption levels across the country.

The team will also play a key role in addressing infrastructure challenges, strengthening technical expertise, and recommending policy incentives to support nationwide deployment.

Mr Teniola’s appointment reflects ipNX’s continued commitment to shaping Nigeria’s digital ecosystem and advancing the development of resilient, future-ready network infrastructure across the country.

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