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Wema Bank Appoints Oseni As New MD


 Wema Bank Plc has appointed Moruf Oseni as its Managing Director/Chief Executive Officer. The appointment will be effective from 1 April 2023.

According to a statement from the bank, Mr. Oseni will take over from Ademola Adebisi upon the latter’s retirement on 31 March 2023.

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. He is currently the Deputy Managing Director of the bank and has led the bank as an Executive Director for 6 years and Deputy Managing Director in the last 4 years.

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

Mr. Oseni is also the Executive Compliance Officer of the Bank. He supervised the launch of ALAT – Nigeria’s 1st digital Bank that has received local and global awards and multiple accolades.

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

On his part, Mr. Adebisi has served meritoriously for over 13 years on the board of Wema Bank.

He joined the bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015. Under his leadership, the bank expanded its footprints to other locations in Nigeria. He improved the performance of the Bank and spearheaded the first Dividend payment in 13 years.

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% of industry volumes. 

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