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Ecobank Transnational Incorporated (ETI), plans to hold its 32nd Annual General Meeting (AGM) by proxy 30th June. The Company Secretary, Madibinet Cisse said the meeting would be in two sessions. The first one is “Annual General Meeting of Ecobank”, that will focus on the Approval of the accounts, Appropriation of the Profits, Election of Directors, Ratification of the co-option of directors, Renewal of the appointment of the joint auditors and Approval of the Final Board Fees for Retiring Directors.
However, the second session of the meeting tagged as “Extraordinary General Meeting”, would concentrate on the Withdrawal of resolution on consolidation of shares and Amendment of the Articles. The leading Independent Regional bank nnoted that the meeting attendance would be mainly by proxies in accordance with the Articles of Association of the Company and applicable law.
Ecobank said, “As a result of the significant public health concerns associated with the Covid-19 pandemic, the various governments and regulators in the countries where Ecobank operates including the Federal Government of Nigeria, the Nigerian Centre for Disease Control (NCDC) and the Government of Lagos State (the host state of the meeting) have issued new orders and directives limiting the number of people at public gatherings”.
As a responsible corporate citizen, ETI intends to strictly comply with this restriction in addition to other applicable health and safety measures. Accordingly, attendance at this year’s General Meetings shall be mainly by proxies in accordance with the Articles of Association of the Company and applicable law.
The bank said, “In view of the above reasons, a shareholder may choose any of the following persons as her/his proxy to represent her/him; Mr Emmanuel Ikazoboh (Chairman), Mr Patrick Akinwuntan (Managing Director, Ecobank Nigeria), Mr Olayiwola Olaleru (Managing Director, EDC Securities Limited), Mr Akeem Oyewole (Managing Director of Stanbic Nominees), Sir Sunny Nwosu (President, Independent Shareholders’ Association)”.
Adding that, “Shareholders are encouraged to submit in advance the proxy form available on the Ecobank website duly completed indicating their voting intentions and deposit same at Ecobank Transnational Incorporated, 2365 Boulevard du Mono, B.P. 3261 Lomé, Togo, or send an email to [email protected] by close of business on 26 June 20203 .
Also, Shareholders will also be able to submit questions in advance of the General Meetings by sending an email to [email protected] Answers to the questions on key themes will be displayed on the Investor Relations page of the Ecobank website (www.ecobank.com/group/investorrelations) as soon as possible.
All relevant documents in connection with the meeting are available to all shareholders from the date of this notice at the Registered Office of the Company at the address above as well as on the Company’s website (www.ecobank.com).

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Last Set of Winners Emerge in Season 2 of Wema Bank’s 5for5 final Promo Draw

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Winners have emerged in the ground-breaking final live draw of the 5for5 promo event held in Lagos on January 20, 2023. This event featured mouth-watering cash prizes of N10,000, N100,000, and the star prize of N1,000,000, which 2 lucky customers won.

 

Abubakar Bisoye Bisi of Broad Street Branch, Lagos and Toyeeb Hussain of Ondo Branch emerged the two lucky winners of N1 million each. 55 other customers won N10,000 each, while another 20 others won N100,000 each in electronic draws conducted at the bank’s Head Office.

 

Season 1 of the promo began in 2021 as part of activities to reward its customers and encourage a healthy savings culture. This second edition closed the curtains on the second season of the 5for5 promo with an impeccable event line-up, social networking, and entertainment, which created a memorable experience for participants that participated physically in Lagos and virtually on Instagram Live on @alat_ng.

 

Speaking to pressmen during the event, The Chief Finance and Strategy Officer, Tunde Mabawonku, in his closing remarks, emphasized the uniqueness of the 5for5 promo grand finale, stating that it was designed to give a personalized feel to the event. “One of the highlights of the event is to remind our customers that the bank and all of the activities we host are designed to help them navigate the various financial services we offer and make their experiences the best in the history of the Nigerian banking industry,” he stated. “This is our way of thanking and rewarding customers for their loyalty.

 

Speaking further, he said, “This season’s grand finale has been a success, and it is already generating considerable interest in the banking industry and among shareholders.”

 

The Divisional Head, Retail Banking, Mr. Dotun Ifebogun, said the promo is a way of promoting the savings culture among customers as well as encouraging the use of the bank’s alternate digital channels.

 

He explained that participating customers needed to do five transactions using the alternate channels as qualification criterion.

 

During the cheque presentation ceremony, the newly appointed Managing Director, Moruf Oseni, expressed his unwavering faith in the promo event and its enormous impact on the banking community. In addition, he praised the efforts of the organizing committee, the able knights, and every other participant in the event’s success.

 

The stakeholders of the Nigerian banking behemoth Wema Bank praised the bank’s management and board for their shrewd leadership and customer-centric values, which contributed to the success of the second season of the promotion.

 

Wema bank pledges to return with a bigger and better third season of the 5for5 promo and urges customers to keep an eye out for this upcoming event and many other opportunities to improve their lives.

 

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WEMA Bank MD, Adebise Drops Baton for Deputy, *Oseni* After 13 Yearsome

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Wema Bank Plc has announced the retirement of its Managing Director/CEO, *Ademola* *Adebise* . He will be proceeding on terminal leave from January 2nd, 2023, after over 13 years of meritorious service on the Board of the Bank. He will be succeeded by *Moruf* *Oseni* , currently the Deputy Managing Director.

 

Ademola Adebise was appointed as the Managing Director/Chief Executive Officer of Wema Bank Plc in June 2018. He joined the Bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015.

Under his leadership, he expanded the bank’s footprints to other locations in Nigeria, he improved the performance of the Bank and spearheaded the first Dividend payment in 13 years, since then, he has ensured consistent dividend payment over the last 4 years. The Bank has grown its Total Assets by 155%, from N470 billion to over N1.2trillion. Deposits also grew by 214% from N350 billion to N1.1 trillion.

 

He initiated the partnership with Bank of Africa to support its customers across the African continent which has increased the Bank’s market share and customer base.

 

All these led to an additional growth of 2 million customer accounts in Nigeria and a market share of 3% of industry volumes. The Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. The Bank’s rating by agencies was upgraded to BBB investment grade.

 

The Bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came tops in the KPMG Digital Scorecard for leading retail banks in Nigeria and this was based on in-depth insights into the state of user experience on retail banks’ digital channels. Furthermore, the Bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses.

 

The Bank also became one of the founding members of the United Nations Environmental plan for financial institutions (UNEP- FI) and continues to provide digital solutions for societal impact.

 

The Chairman of the Board, Mr. Babatunde Kasali on behalf of the Board and Management expressed its profound gratitude to Ademola for his service and wish him the best in his future endeavors.

 

Further, Wema Bank Plc. is pleased to announce the appointment of Mr. Moruf Oseni as the Managing Director/CEO subject to the approval of the Central Bank of Nigeria.

 

Moruf Oseni

 

Moruf Oseni joined Wema Bank in June 2012 as an Executive Director. He has over 25 years of experience with more than 16 years at Senior and Executive Management levels. Moruf Oseni was an Executive Director for 6 years and Deputy Managing Director for the last 4 years and has demonstrated capacity to lead the Bank. He presently has responsibility for the Digital Optimization Directorate which includes – Digital, Retail, Treasury, Operations, and the Technology Divisions. Moruf is also the Executive Compliance Officer of the Bank.

 

He supervised the launch of ALAT – Nigeria’s 1st digital Bank that has received local and global awards and multiple accolades. Before joining Wema Bank, Moruf was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, Moruf was a Vice President at Renaissance Capital, and an Associate at Salomon Brothers/Citigroup Global Markets in London.

 

Moruf holds an MBA degree from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MiF) from the London Business School and a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. He is also an alumnus of both the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.

 

Other Board appointments include

 

Wole Akinleye: Appointed as the Deputy Managing Director. Wole has over 32 years Banking experience. He presently oversees Corporate Banking and South West Business Directorate for the Bank. A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Wole is an alumnus of the Advanced Management Program of the Harvard Business School. He obtained his first degree in Accounting from Obafemi Awolowo University in 1989 and subsequently, a master’s degree in Business Administration (Finance) from the same University.

 

Tunde Mabawonku: Appointed as Executive Director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services. Tunde has a master’s in finance from the London Business School and a first degree in Economics from University of Ibadan. He is a Fellow of the Chartered Institute of Taxation of Nigeria (CITN) and is an Honorary member of the Chartered Institute of Bankers (HCIB). He has also attended several Senior Leadership programs.

 

In conclusion, the Board of Directors are confident that the appointment of the Executives will lead to the continued transformation and growth of the Bank, particularly as the Bank positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.

 

The appointments take effect from April 1, 2023 and are subject to the approval of the Central Bank of Nigeria and other regulatory authorities.

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