Access Bank Plc has announced the elevation of Oluseyi Kumapayi to the position of Deputy Managing Director overseeing African Subsidiaries, alongside the appointment of Olanrewaju Bamisebi as the Executive Director in charge of Information Technology and Digitalisation. These strategic leadership changes, which took effect on October 27 and October 28 respectively, received formal endorsement from the Central Bank of Nigeria, as outlined in a regulatory disclosure signed by Group Company Secretary Sunday Ekwochi.
According to the regulatory filing, the leadership restructuring aligns with the financial institution's ongoing transition from a growth model anchored heavily on scale to one focused on value creation, capital efficiency, and profitability. The primary objective is to optimize the lender's extensive footprint across the African continent and international markets to deliver superior returns for investors while streamlining technological frameworks.
What led to the executive restructuring?
Addressing the appointments, the Group Chairman of Access Holdings, Aigboje Aig-Imoukhuede, emphasized that the decision mirrors the organization's overarching objective to leverage its vast banking network for enhanced financial performance and operational excellence. He noted that Mr. Kumapayi's new portfolio will bolster oversight on regional subsidiaries, whereas Mr. Bamisebi's integration into the bank's direct board will align digital strategies closer to commercial operations and customer delivery.
Echoing similar sentiments, the Managing Director and Chief Executive Officer of Access Bank, Roosevelt Ogbonna, explained that the lender is dedicated to constructing a more productive commercial entity through prudent capital utilization and innovative technological solutions. Mr. Ogbonna highlighted that the transfer of IT governance directly to the bank aims to accelerate digital transformation, cut operational expenditures, and strengthen overall service reliability.
What is the professional background of the newly appointed executives?
Mr. Kumapayi transitions into his new office after serving as the Executive Director for African Subsidiaries since November 2020, bringing over 25 years of diverse banking experience in financial planning, treasury, and risk management. He joined Access Bank in 2002 and previously functioned as the Group Chief Financial Officer from 2007 to 2020. He holds professional qualifications including a fellowship with the Institute of Chartered Accountants of Nigeria, alongside degrees from reputable domestic and international business institutions.
Conversely, Mr. Bamisebi joins the commercial banking board from Access Holdings, carrying more than two decades of expertise in enterprise systems, digital banking, and technological transformation across various financial sectors. His career history features significant leadership tenures at Equity Group Holdings Limited and Diamond Bank. He is an alumnus of the University of Derby and Durham Business School, tasked with modernizing platforms and fortifying cybersecurity architecture across the lender's network.