New leadership for Ecobank Nigeria

Following the retirement of a veteran executive, there will be a new managing director for the pan-African bank in Nigeria.

Ecobank Group has appointed a successor to retiring regional executive and managing director of Ecobank Nigeria , Patrick Akinwuntan.

Jubril Mobolaji Lawal will succeed Akinwuntan in January 2022, joining from Lagos-headquartered Guaranty Trust Bank , where he has spent the past 28 years, subject to approval by the Central Bank of Nigeria .

“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,” said Ecobank Group chief executive Ade Ayeyemi, in a statement.

“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 (African Continental Free Trade Area), across all our markets on the continent.”

Ecobank Nigeria chair Bola Adesola endorsed the appointment, promising Lawal “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,” she added.

It marks the end of 25 years with Ecobank for Akinwuntan, spread across roles in Ghana, Togo and Nigeria, including group executive for consumer banking across the entire Ecobank Group.

Ayeyemi praised his “25 years of solid contributions to Ecobank” and extended “immense gratitude” for his “invaluable” service and contributions.

Earlier this year, Ecobank Nigeria put USD 300 million in bonds on the London Stock Exchange .

Ecobank’s parent company raised USD 350 million from sustainability notes in June and shortly afterwards formed a partnership with the United Kingdom’s development finance institution .The bank’s Tanzanian subsidiary appointed new leadership last year .

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