FBN Holdings, Zenith Bank Plc announce two top appointments

While the Board of Directors of FBN Holdings Plc has announced the appointment of Adebowale (Wale) Oyedeji as the Group Managing Director (GMD), effective November 13, that of Zenith Bank Plc also announced the appointment of Mr Abiodun Durosinmi as the new Chief Financial Officer (CFO), effective October 14.

Durosinmi’s appointment has received approval from the Central Bank of Nigeria (CBN), just as Oyedeji’s is pending approval from the CBN and ratification by the shareholders at the company’s next Annual General Meeting (AGM), which is in line with the Nigerian Exchange Group Rulebook.

Mr Wale Oyedeji holds a Bachelor of Science in Agricultural Economics from the University of Ibadan and a Master of Science in Financial Economics from the University of London. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of the Advanced Management Programme of Harvard Business School.

He has over 30 years of banking experience in corporate banking, treasury, commercial banking and general management. He served as Managing Director of Guaranty Trust Bank, UK, between 2008 and 2011.

He was appointed to the Board of Guaranty Trust Bank Plc in October 2011, where he served as Executive Director for the Corporate Banking Group and contributed immensely to the business’ growth and transformation. Oyedeji also served as an Independent Non-Executive Director of Stanbic IBTC Bank.

Before he was appointed the GMD of FBN Holdings, Oyedeji was the MD/CEO of Nova Commercial Bank and contributed to the institution’s conversion to a commercial bank and foray into retail banking. He began his early career with Ernst & Young, where he trained as an Accountant.

In a statement signed by the Acting Company Secretary, Adewale Arogundade, FBN Holdings Plc announced that Wale Oyedeji will lead the executive teams at the Holdco and its subsidiaries in implementing the newly developed five-year strategic plan.

FBN Holdings Group Chairman, Mr Femi Otedola, expressed the Board’s confidence in Wale Oyedeji’s leadership following his appointment as Group Managing Director. Otedola noted that the Board is eager for Oyedeji to build on the company’s 130-year legacy and reinforce its position in the financial sector.

Similarly, Mr Durosinmi succeeds Dr Mukhtar Adam, who has served as CFO for six years between May 2018 and October 2024.

Durosinmi brings over 20 years of experience with Zenith Bank PIc. He has held significant roles with the Zenith Group, including CFO/Head, Accounts Department, Zenith Pensions Custodian Limited, Head of Oil and Gas Upstream and Deputy Group Chief Compliance Officer. Until his appointment, he was the Chief Operation Officer/General Manager, Finance, Operations and Technology at Zenith Bank (Ghana) Limited, where he was instrumental in strengthening the bank’s overall growth and profitability and supporting the subsidiary’s regional growth.

A qualified Chartered Accountant and Fellow (FCA) at the Institute of Chartered Accountants of Nigeria, Mr Durosinmi holds an MSc in Finance from the University of Leicester and a Global MBA from Alliance Manchester Business School.

He has attended several Executive Management Programmes within and outside the country, including Harvard Business School and London Business School. His extensive experience in financial management, corporate governance and capital markets will ensure that Zenith Bank remains well-positioned for continued growth and strong investor engagement.

According to the statement signed by the Company Secretary, Michael Osilama Otu, the company stated that this transition reinforces Zenith Bank’s commitment to strong financial leadership and continued success in a dynamic global market.

In the statement, Zenith Bank Plc emphasised that the leadership transition underscores the bank’s commitment to maintaining robust financial management and sustaining its success in an increasingly dynamic global market.

READ ALSO: Why we rejected IPPIS — ASUU