First City Monument Bank (FCMB) recently announced that Ademola Adebise, a known figure in the Nigerian finance industry, joined its board of directors following the approval of the Central Bank of Nigeria (CBN).
Appointed MD/CEO of Wema Bank in June 2018, Mr Adebise put in over 13 years of service on the board of the bank.
He joined Wema Bank in June 2009 as an executive director and rose to become the deputy managing director in 2015.
Under his leadership as MD, he expanded the bank’s footprints to other locations in Nigeria, improved the performance of the bank and spearheaded the first dividend payment in 13 years and maintained consistent dividend payment till he retired in 2022.
He grew the bank’s total assets by 155%, from N470 billion to over N1.2trillion. Under him, deposits grew by 214% from N350 billion to N1.1 trillion. Two million customers opened accounts in the bank under his watch.
Wema Bank’s ALAT platform began during his tenure. As of 2022, 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.
Also, during Adebise’s tenure, the bank launched the first SME Business School for capacity building and empowerment of small and medium-scale enterprises which has benefitted over 20,000 small businesses.
Speaking on Adebise’s appointment as director, the FCMB said in a statement that it marks a significant addition to the company’s leadership team as the seasoned banker comes with over three decades of experience.
“Adebise, who most recently served as the Managing Director of Wema Bank Plc, brings a wealth of knowledge and expertise to FCMB. Recently, he was appointed by the federal government as the Chairman of the Board of Directors of Family Homes Funds Limited. His career spans various sectors of the financial industry, including technology, risk management, and strategic planning.
“He has also held key positions at prominent Nigerian banks and non-banking financial institutions, including the legacy Chartered Bank, Nigeria Inter-Bank Settlement System Plc and Accenture (a global Consulting firm). Adebise currently serves on the Board of AIICO Insurance, AIICO Capital and Duchess International Hospital,” the statement said.
Adebise has a bachelor’s degree in computer science from the University of Lagos and an MBA from Lagos Business School.
He is also a fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers. He has completed executive programmes at prestigious institutions such as the University of Cambridge and Harvard Business School.
