Wema Bank Nigeria Promotes Oluwole Ajimisinmi to Deputy MD and Appoints Olukayode Bakare as Executive Director

Wema Bank, the Nigerian lender, has announced two senior executive appointments that will take effect from 1 December 2024. Oluwole Ajimisinmi has been named Deputy Managing Director, succeeding Oluwole Akinleye, who retires on 30 November 2024, while Olukayode Bakare has been appointed as Executive Director to fill the vacancy created by Ajimisinmi's elevation to the higher role. Moruf Oseni continues in post as Wema Bank's Managing Director and Chief Executive Officer.

DEPUTY MANAGING DIRECTOR

Nigerian banking regulation requires that appointments to roles at the level of Deputy Managing Director receive prior clearance from the Central Bank of Nigeria.

Wema Bank operates ALAT, a digital bank.

EXECUTIVE DIRECTOR APPOINTMENT

Executive Director appointments at Nigerian deposit money banks are subject to the Central Bank of Nigeria's fit-and-proper assessment framework, which evaluates candidates against criteria covering professional qualifications, governance track record and relevant experience.

Ajimisinmi has served as an Executive Director since July 2020, having joined Wema Bank in 2009 as Company Secretary/Legal Adviser, while Bakare was previously the Divisional Executive overseeing Treasury, Wholesale Funding and Global Trade Business.