Ecobank appoints MD-designate for Nigerian subsidiary as Akinwuntan bows out

Ecobank Group, a pan-African banking group, announced on Monday that Mobolaji Lawal has been appointed as Regional Executive and Managing Director designate of Ecobank Nigeria, subject to the approval of the Central Bank of Nigeria.

The appointment is made ahead of Patrick Akinwuntan’s upcoming retirement, due to him reaching retirement age in January 2022, according to a statement.

It said Lawal joined Ecobank having been a versatile senior banking executive and digital transformation specialist for over 28 years with Guaranty Trust Bank Plc.

The statement said, “He has deep involvement and experience in digital and retail banking, corporate and commercial banking, credit risk management and corporate finance.

“His previous experience includes being Executive Director at GTBank Plc Nigeria, and Non-Executive Director roles at both GTBank Ghana Limited and Nigeria Interbank Settlement Systems Plc.”

It said Lawal led the team that envisioned and implemented GTBank Plc’s retail and digital banking strategy to achieve industry-wide leadership over a 10-year period, adding that he introduced new products and solutions that have helped to deepen payments and access to digital financial services in Nigeria.    

Ecobank said he was selected and appointed as MD-designate following a keenly contested selection process, which included both internal and external candidates.  

Commenting on the appointment, the Chief Executive Officer, Ecobank Group, Ade Ayeyemi, said, “We welcome Mobolaji Lawal to the Ecobank Group and we stand to benefit from the extensive experience that he has acquired in various fields across banking, which will play a major role in continuing to rebuild our franchise in Nigeria.

“Nigeria is a key market for us, in which we have seen significant improvement over the past three years as we reposition and leverage upon our pan-African strengths in digital products and services, payments and as the go-to-bank for businesses seeking to grasp the growth opportunities being created by the AfCFTA, across all our markets on the continent. I wish Mobolaji the best and assure him of both my support and that of the entire Ecobank Group.”  

The Chairman of the Board of Ecobank Nigeria, Mrs. Bola Adesola, said, “We look forward to working with Mobolaji and assure him of the full support of the Board, Management and all the staff of Ecobank Nigeria.

“The business in Nigeria is on the path of transformation and we are confident that Mobolaji will have a significant impact in advancing our positive trajectory.“  

Ecobank said Lawal would assume the position of MD, Ecobank Nigeria, upon receiving the approval of the CBN and after Patrick Akinwuntan retires.  

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