Paragraph 1: Leadership Transition at Unity Bank
Unity Bank Plc, a prominent financial institution in Nigeria, has announced a significant leadership transition. Mrs. Tomi Somefun, the Managing Director/Chief Executive Officer (MD/CEO), has retired after completing her tenure and has proceeded on terminal leave. Stepping into the role of Acting MD/CEO is Mr. Ebenezer Kolawole, a seasoned banker with a wealth of experience within the financial services sector. This transition, announced at the bank’s 18th Annual General Meeting (AGM) in Lagos, marks a pivotal moment in Unity Bank’s journey and signals a continued commitment to its strategic objectives. The Central Bank of Nigeria (CBN), the primary regulator of the Nigerian banking industry, has granted the necessary approval for Mr. Kolawole’s appointment, ensuring a smooth and compliant transition of leadership.
Paragraph 2: Ebenezer Kolawole’s Ascent in the Financial World
Mr. Kolawole’s appointment as Acting MD/CEO is the culmination of a distinguished career spanning over three decades. His journey with Unity Bank began in 2015 when he joined as the Chief Financial Officer (CFO). Recognizing his expertise and leadership qualities, he was subsequently appointed as the Executive Director overseeing Finance, Operations, and Information Technology in February 2018. This progressive trajectory within the bank has provided him with an intimate understanding of Unity Bank’s operations, finances, and strategic direction, making him a well-suited choice to lead the institution during this transitional period.
Paragraph 3: A Rich Tapestry of Experience
Prior to joining Unity Bank, Mr. Kolawole honed his skills at several prominent financial institutions. His career began at Caribbean Finance Limited in Kaduna in 1992. He then moved to Ecobank, where he gained valuable experience in both operations and finance, rising to the position of Deputy Financial Controller. At Standard Trust Bank, he played an instrumental role in the merger with United Bank for Africa (UBA), further solidifying his reputation for navigating complex financial transactions. Following the merger, he served as CFO of UBA, showcasing his ability to manage the finances of a large, complex organization.
Paragraph 4: Turnaround Expertise and Corporate Development
Mr. Kolawole’s career trajectory also includes a period at Mainstreet Bank, where he served as Group Chief Finance Officer and spearheaded turnaround and transformation initiatives. This experience demonstrates his proficiency in navigating challenging financial landscapes and driving strategic change. Beyond traditional banking, he also gained experience in the telecommunications industry with Globacom, Nigeria’s leading indigenous telecommunications giant, where he contributed to corporate business development. This diverse background adds a unique perspective to his leadership approach.
Paragraph 5: Academic and Professional Accomplishments
Mr. Kolawole possesses a strong academic foundation with a First-Class Honors degree in Accounting from Obafemi Awolowo University. He has further enhanced his knowledge and skills through executive education programs at prestigious institutions such as Columbia Business School and The Wharton School of the University of Pennsylvania. His commitment to continuous learning reflects a dedication to staying at the forefront of industry best practices. He is also a member of several professional bodies, including the Institute of Chartered Accountants of Nigeria (ICAN), the Institute of Credit Administration (ICA), the Chartered Institute of Bankers of Nigeria (CIBN), the Nigeria Institute of Management (NIM), and the Institute of Directors (IoD). These affiliations underscore his commitment to upholding the highest professional standards.
Paragraph 6: Strategic Focus and Future Outlook
As Acting MD/CEO, Mr. Kolawole is entrusted with the responsibility of overseeing the completion of Unity Bank’s ongoing corporate programs and strategic business initiatives. This includes navigating the recently approved merger with Providus Bank, a significant undertaking that will require skillful leadership and meticulous execution. The CBN’s approval of a N700 billion support package for the merger highlights the significance of this transaction and the potential for a strengthened and more resilient financial institution. Mr. Kolawole’s experience, combined with the support of the regulatory body, positions Unity Bank for a promising future, marked by growth, stability, and a continued commitment to serving its customers and stakeholders.
