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Skye Bank Appoints Abiru As New GMD/CEO, Releases Profiles Of New Board And Senior Management Members.

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Tokunbo Abiru Skye Bank CEO

The Central Bank of Nigeria has approved the reconstitution of the Board of Skye Bank Plc.

By the reconstitution, Alhaji M.K. Ahmad has been appointed as the new Chairman of the Board, while Tokunbo Abiru has been appointed as the new Group Managing Director and CEO.

Other members of the reconstituted Board are Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu, all of whom were serving in the capacity of Executive Director of the Bank prior to now.

The reconstitution of the Board followed the voluntary resignation of the former Chairman, Dr. Tunde Ayeni, and other Non-Executive Directors of the Bank, namely Victor Odozi, Babajide Agbabiaka, Dr. Jason Fadeyi, Kunle Aluko, Victor Adenigbagbe, Abdul Bello and Hajiya Amunna Lawan Ali.
In the same vein, Timothy Oguntayo had resigned his position as Group Managing Director/CEO, alongside Amaka Onwughalu, Dotun Adeniyi and Ibiye Ekong, who resigned their positions as DMD and Executive Directors.

All the resignations take immediate effect.

The former leadership of the Bank voluntarily resigned their positions in order to pave the way for a new team to further the new strategic direction of the Bank in the retail and commercial business space, having laid the foundations and set the necessary processes and structures.

In this wise, the challenge of accelerating growth in the new strategic direction becomes more urgent and compelling, given the economic challenges in the global and domestic operating environment, and the attendant challenges.

The Bank thanked the former Board, led by Ayeni, and the former management team, led by Oguntayo, for their service, sacrifice and dedication to the institution.

The new Chairman of the Bank, Ahmad, in a statement earlier on Monday, expressed optimism about the Bank, given its vast potentials and its strategic position in the economy.

He stated that the Bank is well positioned to deepen the retail and commercial banking services in the economy, having put in place the critical building blocks to win in this sector.

He stated that the immediate priorities of the Board and the new Management team is to quickly begin to leverage the huge investment in the enhanced branch network, technology and alternative channels to improve stakeholder value in a sustainable manner.

He assured the shareholders, customers and depositors of the Bank of his commitment to preserve their investments and deposits, while further assuring that the support and backing of the CBN and other relevant stakeholders have been obtained in this respect.

Ahmad has about 35 years distinguished experience leading and working in various public sector organizations and financial services institutions in Nigeria.

He was the pioneer Director General and Chief Executive Officer of the National Pension Commission and also a pioneer staff of the Nigeria Deposit Insurance Corporation and rose to become Director/Head of Department and member of the Interim Management Board.

Ahmad has served on the boards of various corporate and not-for-profit organisations as well as presidential committees.

He chaired the Technical Committee that produced the North East Transformation Strategy, a medium term Regional Development Strategy for the sustainable socio-economic transformation and reconstruction of the region and currently supervises its implementation.

Ahmad is also a member of the Presidential Committee for the North East Intervention. Prior to his appointment, he was a Director on the Board of FBN Holdings Plc, where he brought his rich experience in the financial services industry to bear on the institution.

He strongly promotes building institutions based on the highest corporate governance and ethical standards and would bring his extensive experience to bear on his role on the board of Skye Bank Plc as Chairman.

Ahmad has a Masters Diploma in Innovation and Strategy from University of Oxford and has also attended courses and programmes in various first-rate business and management schools, including Harvard Business School, IMD and INSEAD.

A co-author of the book: “The Extent and Effectiveness of Bank Supervision in Nigeria,” Ahmad is married with children.

The new MD/CEO, Abiru, is an alumnus of Harvard Business School (Advanced Management Programme) and Lagos Business School (Senior Management Programme).

He holds a B.Sc (Economics) from the Lagos State University and is a Fellow of The Institute of Chartered Accountants of Nigeria and an Honorary Senior Member of The Chartered Institute of Bankers of Nigeria.

Abiru has had a distinguished career in banking spanning about 26 years, of which his early 10 years were spent in the formative years of Guaranty Trust Bank Plc.

Thereafter, he spent about 14 years with the premier and most valuable banking brand in Nigeria, First Bank of Nigeria Limited, where he functioned as Executive Director, Corporate Banking between 2013 and 2016.

Equally during his banking career, he was at various times between 2013 and 2016 a Non-Executive Director in the following companies: Airtel Mobile Networks Limited, FBN Capital Limited (now FBN Merchant Bank Limited); and FBN Bank Sierra Leone Limited.

Abiru was the Commissioner of Finance for Lagos State Government (2011-2013), the economic capital of Nigeria, during the dynamic and transformational leadership of Governor Babatunde Fashola (SAN).

BUSINESS

FCMB SheVentures Nominates Whiterose Properties for African Marketplace Dubai 2026

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We are pleased to announce that Whiterose Properties has been nominated and sponsored by FCMB through its SheVentures initiative to participate in African Marketplace Dubai 2026, scheduled for 10–12 October 2026.

This opportunity marks an important step in our journey to expand Whiterose’s international presence, build business relationships and introduce our offerings to a wider audience.

African Marketplace was founded by Mrs. Ibukun Awosika through the Ibukun Awosika Leadership Academy (IALA). The platform brings African and Caribbean businesses together to showcase their products and services and connect with international buyers, distributors and investors.

Mrs. Awosika, an entrepreneur, author and the first female Chair of First Bank of Nigeria, has demonstrated a longstanding commitment to enterprise and leadership. We commend her vision of creating a platform that gives African businesses greater visibility and access to global markets.

The Whiterose delegation will be led by our Founder and Chief Executive Officer, Shakirat Ayobami Kareem. At the exhibition, we will showcase our property portfolio alongside our furnishing and interior offerings, including products from Kirah Homes, our bedding and home accessories brand.

For us, this participation is an opportunity to explore distribution partnerships, engage prospective clients and strengthen relationships with businesses that share our ambitions for growth. We are proud to join other Nigerian enterprises showcasing their capabilities internationally.

We extend our sincere appreciation to FCMB SheVentures for the nomination and sponsorship, and for its continued support of female entrepreneurs. This support creates practical opportunities for women-led businesses to reach new markets.

We also thank our team, clients and partners whose dedication and trust continue to support the Whiterose journey.

We invite prospective buyers, investors, distributors and partners to connect with us at African Marketplace Dubai

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BUSINESS

UBA Opens Subscription Channel for Dangote Refinery IPO, Invites Investors to Participate

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has been named as an authorised financial institution through which eligible investors can subscribe to acquire shares of the highly anticipated Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE.

This means that UBA can provide investors with access to the landmark public offer, which presents Nigerians and eligible international investors with an opportunity to become shareholders in one of Africa’s most significant industrial investments.

The Dangote Refinery IPO offers 4.1 billion ordinary shares at ₦525 per share, with a minimum subscription of 10 shares valued at ₦5,250, and investors can apply for additional shares in accordance with the terms of the offer.

The offer, scheduled to open on Monday, September 14, 2026 will close on October 13, 2026, subject to the terms contained in the offer documents.

UBA is encouraging interested investors, including its customers and members of the investing public, to take advantage of its approved channels to participate in the offer.

Commenting on the development, Executive Director Designate, UBA Group, Tosin Adewuyi said:, said: “We are pleased to be named as one of the approved financial institutions providing access to the Dangote Refinery public offer. At UBA, we remain committed to deepening financial inclusion and expanding opportunities for individuals and businesses to participate meaningfully in Nigeria’s capital market.»

“This public offer provides eligible investors with an opportunity to participate in the ownership of a major Nigerian industrial enterprise. We encourage interested investors to obtain and carefully review the offer documents, understand the terms and risks involved, and make informed investment decisions,” Adewuyi said.

He explained that eligible investors can subscribe for the Dangote Refinery shares through UBA’s approved subscription channels.

Investors are advised to ensure that their personal and banking details, including their BVN information, are accurate and up to date before submitting their applications.

UBA customers can access the offer through the Bank’s designated channels, subject to the applicable subscription process and terms via https://www.ubagroup.com/nigeria/self-service/

The Dangote Refinery IPO is expected to be a landmark transaction for Nigeria’s capital market, with the public offer designed to broaden participation in the ownership of the refinery and provide retail investors with an opportunity to invest in the business.

The bank therefore invites individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible investors interested in participating in the offer to subscribe through UBA.

Investors are, however, advised to read the Prospectus and other offer documents carefully and seek appropriate professional advice where necessary before investing. An investment in shares carries risks, and the value of an investment may rise or fall.

UBA also advises investors to subscribe only through approved channels and to remain vigilant against fraudulent investment schemes. The official Dangote Refinery IPO website specifically warns investors never to disclose their PIN, password or OTP or pay money into a personal account.

The Bank advises subscribers to read the Prospectus and relevant offer documents before subscribing.

United Bank for Africa is one of Africa’s largest financial institutions, serving over 45 million customers globally. Operating in 20 African countries, as well as the United Kingdom, the United States, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services while championing financial inclusion, innovation and sustainable development across its markets.

 

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BUSINESS

Wema Bank Wins Euromoney’s Nigeria’s Best Digital Bank for Consumers 2026 Award

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Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT, has been named Nigeria’s Best Digital Bank for Consumers 2026 by Euromoney, one of the world’s most respected authorities on financial services and banking excellence.

The prestigious recognition affirms the Bank’s sustained leadership in digital innovation, customer experience and financial inclusion, reinforcing its position as one of Nigeria’s leading technology-driven financial institutions.

Presented annually, the Euromoney Awards for Excellence celebrate banks that are redefining financial services through innovation, measurable impact and outstanding customer value. In selecting Wema Bank for the award, Euromoney recognised the Bank’s successful digital transformation journey, its continuous innovation through ALAT, Africa’s first fully digital bank, and its unwavering commitment to delivering simpler, smarter and more accessible banking experiences for customers.

Commenting on the recognition, the Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni, said: “This award is a strong validation of the deliberate investments we have made over the years to build a truly digital bank that puts customers at the centre of everything we do. Innovation for us has never been about technology for its own sake. It has always been about creating solutions that make banking easier, faster, safer, and more rewarding for every customer.

“From pioneering Africa’s first fully digital bank with ALAT to continuously evolving our digital capabilities, we have remained focused on anticipating customer needs and building experiences that create real value. We are honoured by this recognition from Euromoney and inspired to continue pushing the boundaries of innovation as we shape the future of banking in Nigeria.” He concluded.

A key milestone in Wema Bank’s digital transformation has been the evolution and upgraded version of ALAT, which introduced next-generation capabilities including voice banking, tap-to-pay functionality, personalised financial services and integrated investment opportunities through strategic partnerships. Together with faster digital onboarding, AI-powered fraud monitoring, intelligent customer personalisation and an expanding agency banking network, these innovations continue to enhance customer experience while extending financial services to more Nigerians.

Euromoney also recognised Wema Bank’s ability to leverage technology to build deeper customer relationships through data-driven personalisation, enabling customers to receive tailored recommendations across savings, investments and credit products based on their financial needs and behaviour.

For over eight decades, Wema Bank has remained at the forefront of innovation in Nigeria’s financial services industry. As the pioneer of Africa’s first fully digital bank, the Bank continues to redefine banking by combining technology, customer insight, and innovation to deliver seamless, secure, and inclusive financial solutions for individuals, businesses, and communities.

The Euromoney recognition further reinforces Wema Bank’s commitment to building the future of banking through continuous innovation, operational excellence and customer-centric solutions that create lasting value.

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