Ecobank Appoints Lawal Managing Director as Akinwuntan Retires

The Ecobank Group has announced the appointment of Jubril Mobolaji Lawal as its Regional Executive and Managing Director designate of Ecobank Nigeria.

The appointment was announced ahead of the upcoming retirement of the current Managing Director of Ecobank Nigeria, Patrick Akinwuntan.

Akinwuntan is due to attain retirement age in January 2022. However, the appointment is subject to the approval of the Central Bank of Nigeria (CBN).

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

He has deep involvement and experience in digital and retail banking, corporate and commercial banking, credit risk management and corporate finance, the statement revealed.

His previous experience included being an Executive Director at GTBank Plc Nigeria, and Non-Executive Director at both GTBank Ghana Limited and Nigeria Interbank Settlement Systems Plc.

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

“Mobolaji was selected and appointed as Managing Director designate following a keenly contested selection process, which included both internal and external candidates,” it added.

The incoming bank chief holds a Bachelor of Law degree from the Obafemi Awolowo University, Nigeria; B.L. from the Nigerian Law School and a Master of Business Administration from Oxford University, United Kingdom.

He has also attended several executive management and banking specific developmental programmes at leading educational institutions including Harvard Business School, Stanford Graduate School of Business and Institute Européen d’Administration des Affaires (INSEAD).

Commenting on the appointment, the CEO, Ecobank Group, Ade Ayeyemi, was quoted to have 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.”

On her part, 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 significant impact in advancing our positive trajectory.“

Also Akinwuntan was quoted to have said: “It has been a rare privilege to have had the honour of serving for over a quarter of a century at Africa’s most exciting and unrivalled Pan-African Banking Champion, Ecobank.

“I am exceedingly thankful to God, my family, friends, all Ecobankers, our founders, shareholders, regulators and all our customers and stakeholders for the support and help that they have given on this journey.”

Akinwuntan started his career with Ecobank in 1996. He has held various senior and executive management positions in the over 25 years he has spent with the Ecobank Group, during which he has been based in Ghana, Togo and Nigeria.

Before his appointment as Regional Executive and Managing Director, Ecobank Nigeria, Akinwuntan was the Group Executive, Consumer Banking, where he was responsible for leading the Consumer Banking business across Ecobank’s global network of 39 countries, 35 of which are in Africa.

He managed the Group’s digital transformation journey and has been instrumental in the development of the world class digital products and services that Ecobank provides today.

Akinwuntan is a seasoned banker, who also previously was on the Board of ETI as a Group Executive Director and held the positions of Group Chief Finance Officer of ETI, Group Executive Director Domestic Bank, Operations, Technology, Transaction and Retail Bank, including Executive Director, Retail Bank at Ecobank Nigeria among others.

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