Jobs/Appointments
Wema Bank Appoints Moruf Oseni New MD/CEO as Ademola Adebise Retires
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.
By Aduragbemi Omiyale
The conclusion of the 2025 Performance Appraisal Exercise of Abuja Electricity Distribution Company (AEDC) has resulted in the promotion and step increments of about 1,126 employees of the organisation.
The reward for performance involved the promotion of 547 employees and 579 step increments, reaffirming the company’s unwavering commitment to recognising excellence, rewarding performance and building one of Africa’s most admired workplaces.
AEDC disclosed that these actions reflect its deliberate investment in its people as the energy firm accelerates its transformation into a customer-centric, high-performing electricity distribution company with global standards and Pan-African aspirations.
The promotions and step increments, approved by the management, recognise employees who have demonstrated exceptional commitment, professionalism and outstanding performance in advancing AEDC’s strategic objectives.
However, employees who were not successful in the current appraisal cycle have been urged to remain committed, emphasising that the performance management process is designed to support continuous growth, capability development and future advancement opportunities.
“Our people remain our greatest asset and the foundation upon which AEDC’s future will be built. Today’s announcement is more than a reward for performance; it is a reaffirmation of our belief that excellence should always be recognised, talent should be nurtured and hard work should create opportunities for growth.
“As we continue our transformation journey, we are building an organisation where our employees can develop rewarding careers, realise their full potential and proudly contribute to creating one of Africa’s leading electricity distribution companies,” the chief executive of AEDC, Mr Chijioke Okwuokenye, stated.
He added that AEDC is intentionally creating a workplace where merit, continuous learning, innovation and collaboration drive career progression, while employee wellbeing remains central to its long-term strategy.
By Adedapo Adesanya
Nigerian international lawyer and anti-corruption specialist, Mr Ibrahim James Pam, has been appointed Acting Director-General of the World Bank Group’s Compliance Advisor Ombudsman (CAO), a key independent accountability body within the institution.
The appointment, approved by the boards of the World Bank Group, will take effect on August 2, 2026.
Mr Pam, who currently serves as Chair of the World Bank Inspection Panel, will oversee the CAO on an interim basis pending the appointment of a substantive Director-General and Vice President of the World Bank Group Independent Accountability Mechanism.
The development was announced in a statement issued by the Head of Communications of the Compliance Advisor Ombudsman, Emily Horgan, who said the arrangement was designed to ensure continuity during the organisation’s leadership transition.
“In view of the forthcoming leadership transition at the Compliance Advisor Ombudsman (CAO), the World Bank Group Boards have designated Ibrahim Pam, Chair of the Inspection Panel, to concurrently serve as acting CAO Director General, effective August 2, 2026,” the statement said.
“Mr Pam will serve in this role until the new World Bank Group Independent Accountability Mechanism Director General/Vice President is appointed.”
The Compliance Advisor Ombudsman is the independent accountability mechanism for projects financed by the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both members of the World Bank Group.
Created in 1999, the CAO reports directly to the boards of IFC and MIGA and handles complaints from individuals and communities affected by projects supported by the two institutions, while promoting environmental and social accountability.
Mr Pam, who is married with children and grandchildren, brings extensive experience in international law, anti-corruption, compliance, human rights and criminal investigations to the role.
He is the son of the late Lt. Col. James Pam, a former Adjutant General of the Nigerian Army, and Mrs Ngo Elizabeth Pam, a human rights advocate who served on the Human Rights Violations Investigation Commission, popularly known as the Oputa Panel, as well as the Plateau Peace Conference.
Over the years, Mr Pam has built a distinguished international career investigating human rights violations, financial crimes, fraud, institutional misconduct and mass atrocities across several jurisdictions.
He has served as a member of the World Bank Inspection Panel since January 2023. Prior to that, he was Head ad interim of the Independent Redress Mechanism of the Green Climate Fund in Songdo, South Korea, between August 2022 and March 2023, after leading the Fund’s Independent Integrity Unit from November 2016 to November 2022.
His professional experience also includes roles with the United Nations Office of Internal Oversight Services (OIOS), where he served as Resident Investigator with the UN Mission in South Sudan, the African Development Bank’s Integrity and Anti-Corruption Department, and the Office of the Prosecutor at the International Criminal Court in The Hague.
Earlier in his career, he provided legal support to Nigeria’s Human Rights Violations Investigation Commission (Oputa Panel) between 2000 and 2002.
A graduate of the University of Jos, Mr Pam began his legal career at J.Y. Pam & Co. before working in private legal practice, the banking sector and later the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
While at the ICPC, he received the prestigious Chevening Scholarship, which enabled him to earn a Master’s degree in International Law and Justice Policy from the London School of Economics in 2005
His appointment is expected to strengthen the World Bank Group’s accountability and oversight framework, given his extensive background in governance, integrity, compliance and international justice.
Jobs/Appointments
UNIZIK Appoints Nicholas Okoye Visiting Senior Lecturer, to Strengthen Digital Assets Education
Nnamdi Azikiwe University (UNIZIK) has appointed veteran investment banker and capital markets expert, Nicholas “Nicky” Okoye, as a Visiting Senior Lecturer in a move aimed at strengthening its capital markets and digital assets curriculum amid the growing global adoption of virtual assets and blockchain-based finance.
The appointment, which takes immediate effect, is expected to deepen the university’s capacity to train enterprise executives, entrepreneurs and policymakers in emerging areas such as cryptocurrencies, stablecoins, Central Bank Digital Currencies (CBDCs), tokenisation of real-world assets and other digital financial innovations.
UNIZIK, which hosts one of Africa’s few dedicated Capital Markets faculties, said the appointment aligns with its strategy of equipping students and professionals with the knowledge and practical skills required to navigate the rapidly evolving financial ecosystem.
The university, in its statement, described the appointment as a significant milestone for the institution.
“Securing someone of Nicky Okoye’s calibre is a game-changer. As global finance evolves, we must equip enterprise executives, entrepreneurs and policymakers with the technical knowledge required to build long-term capital formation strategies. His real-world experience is invaluable.”
Okoye brings decades of experience across global and Nigerian financial institutions. His career includes serving as a Financial Consultant at Merrill Lynch in the United States, Chief Strategy Officer at the Nigerian Exchange Group, and Founding Group Executive Director of Operations and Strategy at Transcorp Group Plc, where he led fundraising initiatives that collectively exceeded $1 billion.
He currently leads the Global Investment Advisory Community (GIAC), a coalition of local and international banks, asset managers and fintech firms working to develop a digital assets ecosystem across Africa and the Caribbean.
Beyond the private sector, Okoye has contributed to public policy, providing advisory support to the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on capital market regulatory frameworks.
Stakeholders in the financial services sector have welcomed the appointment, expressing optimism that his academic engagement would help build capacity among investors and professionals as Nigeria expands its digital finance ecosystem.
Okoye also holds an honorary Doctor of Business Administration from Enugu State University of Technology, awarded in recognition of his contributions to enterprise development and business excellence.
He previously served on the Presidential Jobs Board and the National Council of Small and Medium Scale Enterprises, where he provided strategic advice on economic development. Between 2014 and 2018, he advised the Nigeria Content Development and Monitoring Board (NCDMB) on Project Triple E, an initiative designed to strengthen indigenous participation in the upstream oil and gas value chain by integrating community-based contractors.
The appointment comes as Nigeria intensifies efforts to establish a robust regulatory framework for digital assets. The Federal Government recently inaugurated a National Virtual Assets Council to coordinate the oversight and regulation of virtual and digital assets in the country.
The council is chaired by the Central Bank of Nigeria, with support from the Securities and Exchange Commission and the Nigeria Revenue Service, as part of broader efforts to promote innovation while ensuring investor protection and financial system stability.
