The board of directors of Wema Bank has appointed Dr. Oluwayemisi Olorunshola and Mr.s Bolarin Okunowo as independent non-executive directors of the bank.
The lender disclosed in a statement signed by Johnson Lebile, Company Secretary/Legal Adviser, Wema Bank.
Dr. (Mrs) Oluwayemisi Olorunshola Profile
Dr. (Mrs) Oluwayemisi Olorunshola is an experienced Supply Chain professional and a business associate with over 15 years’ experience in multinational organisation and over 10 years as a business manager. She possesses a B.Sc. Education degree in Education & Economics from the prestigious Obafemi Awolowo University, Ile Ife, a Master of Business Administration degree from University of Liverpool, UK, and a Doctorate degree in Business Administration from Walden University, USA.
She is a well trained professional in various aspects of business management and her work experience spans every aspect of the supply chain including Business & Production Planning, Procurement, Distribution, Import & Export, and Logistics Services. She is a lover of education. Her widely read publication on small business sustainability strategies published in the Journal of Functional Education (FEAcademia), Proquest.com, and Academia.edu, has been referenced by many scholars.
Dr. Olorunshola is a fellow of the International Institute for African Scholars and a chartered member of the Nigerian Chartered Institute of Personnel Management. An ardent believer in community development and in pursuant of this interest, she is a volunteer in many civic activities where she has contributed greatly to the development of her community and other areas of influence.
Mrs. Bolarin Okunowo Profile
Mrs. Bolarin Okunowo is a seasoned business leader and finance specialist with over 17+ years’ experience in a range of roles spanning investment banking and financial services, manufacturing, oil and gas, real estate, and hospitality. She is the Managing Director/Chief Executive Officer of Chemical and Allied Products PIC (“CAP plc”), a subsidiary of UAC of Nigeria Plc (“UACN”), and the manufacturers of leading paint brands – Dulux, Sandtex and Caplux in Nigeria.
Prior to her executive appointment at CAP Plc, Bolarin served as the immediate past Managing Director/CEO of Portland Paints and Products Nigeria Plc (“Portland Paints”) a subsidiary of UACN. At Portland Paints she led a turnaround of the business and the implementation of the successful merger with CAP Plc in July 2021.
Prior to joining the UACN Group, she was the Head, Energy & Infrastructure Finance at Stanbic IBTC Capital (“Stanbic”) with responsibility for the oil and gas, power, and infrastructure debt finance portfolio. Prior to Stanbic, Bolarin worked with ARM Investments Managers and PricewaterhouseCoopers. Bolarin is a qualified Chartered Accountant; she holds a bachelor’s degree in Commerce from the University of Birmingham UK and a master’s degree in Information Systems from the prestigious London School of Economics.
Bolarin has served in various capacities on the boards of various publicly listed companies. She is currently a Non-Executive Director of Livestock Feeds Plc and chairs the Board Risk Management Committee.
Seplat Energy Appoints Basil Omiyi, Charles Okeahalam as Independent Non-Executives
Seplat Energy Plc has appointed Basil Omiyi, CON, as the company’s new independent non-executive chairman following the retirement of Dr. A.B.C Orjiako from the board.
According to the company, Omiyi’s appointment follows a broad assessment of internal and external candidates and was approved after a unanimous vote by all Directors of Seplat Energy, in compliance with the Companies and Allied Matters Act in Nigeria (“CAMA”).
In addition, Dr. Charles Okeahalam succeeds Mr. Omiyi as the Senior Independent Non-Executive Director.
Basil Omiyi Background
Mr. Omiyi has been a member of Seplat Energy’s Board of Directors since March 2013 and as Senior Independent Non-Executive Director from 1 February 2021. During this period, he sat on the Company’s Remuneration, Nominations & Governance, Energy Transition, and Risk Management & HSSE committees.
His experience in the energy industry is extensive, with more than 40 years at Royal Dutch Shell, during which time he held senior roles in Nigeria and Europe, including becoming Managing Director of Shell Petroleum Development Company of Nigeria in 2004 and in addition, Country Chairman of Shell Companies, Nigeria, until his retirement in 2009.
Mr. Omiyi has held several leadership positions in the Nigerian oil and gas industry, including: Chairman, Upstream Industry Group (Oil Producers Trade Section, Lagos Chambers of Commerce & Industry) from 2007-2010; Chairman of the Energy Sector of NEPAD Business Group, Nigeria, and Board Member NEPAD Business Group, Nigeria from 2005-2010; Chairman, of the Oil & Gas Commission of the Nigerian Economic Summit Group from 2005-2010; and Board Member, Nigerian Extractive Industry Transparency Initiative (NEITI) 2007-2010.
Mr. Omiyi is also the Independent Non-Executive Chairman of Stanbic IBTC Holdings, a subsidiary of Standard Bank Group, a post he has held since 2015.
In 2011, he was awarded the national honour of Commander of the Order of the Niger for pioneering leadership in Nigeria’s oil and gas sector. Dr. Charles Okeahalam joined the Board in March 2013 as an Independent Non-Executive Director, and is Chairman of Seplat Energy’s Finance Committee, and a member of the Energy Transition, Remuneration, and Nominations & Governance committees.
Charles Okeahalam Background
Dr. Okeahalam has extensive corporate finance and capital markets expertise and in particular, detailed knowledge of African financial markets, economies and the investment industry. He was a co-founder of AGH Capital Group, a private equity and diversified investment holding company based in Johannesburg, with assets in several African countries. Prior to co-founding AGH Capital Group in 2002, he was a Professor of Financial Economics and Banking at the University of the Witwatersrand in Johannesburg.
His other roles have included advising a number of African central banks and government ministries, the World Bank and the United Nations. He has held several board positions and is a former non-executive chairman of Heritage Bank Limited, Nigeria. Since March 2016 he has served as the non-executive chairman of the Nigeria Mortgage Refinance Company.
Roger Brown, Chief Executive Officer of Seplat Energy, said: “As the founders of Seplat Energy Dr. ABC Orjiako and Mr. Austin Avuru step off the board and the Company moves into the next chapter of its development, Seplat has once again demonstrated its commitment to strong corporate governance in delivering on its promise of appointing an Independent Non-Executive Chairman.
“Mr. Basil Omiyi has been a leading figure in the Nigerian oil and gas sector and also with Seplat Energy, having joined its Board in 2013 and helped it to achieve a dual listing in April 2014. The vast depth of experience and his detailed knowledge of Seplat Energy will be invaluable as we continue to evolve and mature the company. He has provided invaluable guidance as an Independent Director and I look forward to his continued leadership as our new Independent Non-Executive Chairman.
“We will also benefit from the considerable expertise of Dr. Charles Okeahalam as Senior Independent Non-Executive Director, especially his experience and knowledge of Africa’s economies and its financial markets. Under their guidance we will continue to expand and consolidate our position as Nigeria’s leading energy company and the partner of choice to deliver energy transition for Africa’s largest economy and its rapidly growing population.”
Sterling Bank Appoints Two New Directors
Sterling Bank Plc has appointed Mr. Olatunji Mayaki as a Non-Executive Director and Mrs. Olusola Oworu as an Independent Non-Executive Director of Sterling Bank Plc (the Bank).
According to the bank, the approval of the Central Bank of Nigeria has been obtained for both appointments.
Profile of Mrs. Olusola
Mrs. Olusola Oworu is a seasoned professional with a strong bias for credit analysis, risk management and marketing.
She worked with Coopers and Lybrand (now PricewaterhouseCoopers), NAL Merchant Bank (now Sterling Bank Plc.) and Citibank Nigeria where she rose to the position of Vice President.
Mrs. Oworu served as a Special Adviser on Commerce & Industry to the erstwhile Governor of Lagos State, Mr. Babatunde Raji Fashola SAN. She was also an Honourable Commissioner for Commerce & Industry with the primary
responsibility to develop several greenfield projects, initiate schemes to improve the investment climate and lead the drive to attract new investments to Lagos State.
Mrs. Oworu holds a Bachelor of Arts (Honours) in Accounting and is a fellow of the Institute of the Chartered Accountants of Nigeria. Mrs. Oworu was an Independent Director of First Bank of Nigeria Limited from January 2016 to April 2021. She is currently the Chairperson, Lekki Concession Company, and a member of the Advisory Board of Landmark Village, Lekki.
Profile of Mr. Olatunji Mayaki
Mr. Olatunji Mayaki is currently an Executive Management Consultant at Welton Energy/Addax Petroleum Development Nigeria Ltd. Prior to this, he was the Deputy Managing Director at Addax Petroleum Development Nigeria Ltd.
Mr. Mayaki has over 35 years of experience in Corporate Law, Banking & Finance, Asset and Wealth Management and the Upstream Oil and Gas Business. He worked with Shell Nigeria where he was Country Head, Legal & Company Secretary, delivering broad-based Legal advice on in-country and West African regional issues. Before his time with Shell Nigeria, Mr. Mayaki served as Vice President, Legal /Compliance & Company Secretary with ARM
where he provided general legal advice, specifically on money/capital market transactions and wealth creation initiatives.
Abbey Mortgage Bank Plc Appoints Mobolaji Adewumi as Acting Managing Director, Madu Hamman Becomes MD of FMBN
In the wake of her 30th Anniversary, Abbey Mortgage Bank Plc announces the appointment of her MD/CEO Mr. Madu Hamman by President Muhammed Buhari, as the new MD of Federal Mortgage Bank, the apex Mortgage Bank in Nigeria.
Mr. Madu Hamman has over 34 years of banking experience in Mortgage and Credit Analysis, Banking Operations, Business Development, Business Support Services, and Human Resource Management. He has anchored and directed the planning, integration, and implementation of critical projects for the Bank. In the past 2 years under his leadership, the Bank has moved into profitability with a balance sheet size of N34.46bn. In addition, the CBN recently approved the Bank’s Rights Issue of 3.692bn ordinary shares of 50keach at N0.82 per share. This appointment is indeed an endorsement of the Abbey brand.
Consequently, at an emergency meeting held on the 14th of April 2022, the Board named Mr. Mobolaji Adewumi, the current ED Finance & Admin as the Acting Managing Director of the Bank. Mobolaji Adewumi is an experienced professional with a deep knowledge of the financial services industry. He possesses an extensive working knowledge of sub-Saharan Africa. He obtained his MBA (specializing in Finance) from Judge Business School, University of Cambridge, UK, and his BSc in Management and Accounting from the Obafemi Awolowo University, Ile-Ife. Bolaji became a Chartered Accountant (ACCA) in 2007. He worked for KPMG as Audit Senior between 2006 to 2009 before joining UBA from 2009 to 2011 where he worked in various capacities.
Mr. Adewumi also worked for Africa Finance Corporation, Egon Zehnder International London Office, and Fairtrade International before joining Aso Savings and Loan Plc as Special Adviser to the MD/CEO & Head, Strategy between 2012 to 2015. Bolaji Adewumi later moved to First Bank of Nigeria Limited, where he was Special Assistant to the MD/CEO between 2016 to 2019 and later joined VFD as the Group Executive Director, Finance from April 2019 to March 2020.
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